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Newhall Land Promotes Kevin C. Farr.

Business Editors

VALENCIA, Calif.--(BUSINESS WIRE)--Jan. 19, 2001

The Newhall Land and Farming Company (NYSE:NHL) (PCX:NHL) announced that Kevin C. Farr has been promoted to vice president-Residential, Valencia Division.

Farr, age 39, rejoined Newhall Land in 1994 as controller for Valencia Company, a subsidiary of Newhall Land. He was promoted to senior vice president/controller of Valencia Company in 1996; senior vice president, Residential Finance and Operations for Valencia Company in 1998; and most recently has served as executive vice president, Residential Division for Valencia Company.

Farr received both his master of business administration in finance in 1988 and bachelor of arts in business economics in 1984 from the University of California, Los Angeles. Farr will oversee all Valencia residential development, including entitlements, marketing and land sales.

He previously was employed as assistant treasurer for Newhall Land from 1988 to 1992. Prior to joining Newhall Land, Farr served in various financial positions with First Interstate and City National Banks.

The company also announced that Stephen C. Schmidt, currently senior vice president-Residential Community Development, will be leaving the company upon completion of the sale of Newhall Land's option on its property located in Broomfield, Colo.

Newhall Land is a developer of new towns and master-planned communities in north Los Angeles County. Its primary activity is building the new town of Valencia. Newhall Ranch, its next new town, and Valencia together form one of the nation's most valuable landholdings. They are located on the company's remaining 19,400 acres in Los Angeles County, 30 miles north of downtown Los Angeles.

The company maintains a Web site at http://www.newhall.com.
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Publication:Business Wire
Date:Jan 19, 2001
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