Kern County Board of Supervisors Unanimously Approve Tejon Mountain Village

BAKERSFIELD, Calif.--(Business Wire)--
The Kern County Board of Supervisors has unanimously voted to approve
development of Tejon Mountain Village, a remarkable mountain resort community
planned for the westernmost high country of Tejon Ranch. The new community is
being developed by Tejon Mountain Village LLC, a joint venture of Tejon Ranch
Company (NYSE:TRC) and DMB Associates.

"We are pleased the Kern County Board of Supervisors has decided to support
Tejon Mountain Village and the new jobs, enhanced public services and expanded
tourism economy it will bring," said Robert A. Stine, President and CEO of Tejon
Ranch Company.

Tejon Mountain Village is located approximately 40 miles south of Bakersfield
and 60 miles north of Los Angeles.

"A high-quality mountain resort community located just a short drive from both
Bakersfield and the large and affluent Los Angeles market will be a natural draw
for people who want to live in a beautiful natural setting, or for those who
will use the community's exceptional resort facilities for a relaxing respite
from the hustle and bustle of urban life," Stine added.

The Supervisors were effusive in their praise for the community, noting its
environmental sensitivity, the care and planning that went into its design, and
the role Tejon Mountain Village will play as a prestigious new gateway to Kern
County.

"Tejon Mountain Village reflects the highest standards and should serve as a
model for the rest of the state when it comes to development," said Supervisor
Michael Rubio.

Community Details

Tejon Mountain Village is planned on 26,417 acres in the Tehachapi Mountains.
The plan will preserve 80 percent of the land as open space; an area roughly
one-third the size of Bakersfield. The developed portion of the community will
consist of:

* Resort and recreational facilities, including up to 750 hotel rooms, golf and
equestrian opportunities and about 75 miles of hiking, biking and equestrian
trails;
* Up to 3,450 new homes (ranging from resort condominiums to multi-acre custom
lots); and
* 160,000 square feet of publicly accessible commercial space.

The community is expected to generate an estimated 3,100 new jobs, including
1,600 construction jobs during the expected 15- to 20-year build-out process and
1,500 permanent positions. The community will also provide funding for public
services such as fire stations and equipment, Sheriff facilities, libraries and
schools as well as provide improvements to local interchanges along Interstate
5.

The homes in Tejon Mountain Village will also help fund the Tejon Ranch
Conservancy, an independent body established to guide the stewardship of up to
90 percent of the Ranch (240,000 acres) that will be conserved as open space.

Next Steps

With today`s approval by the Board of Supervisors, Tejon Mountain Village will
begin the process of obtaining a number of discretionary permits and approvals
from regional, state and federal agencies, and will begin the detailed
engineering work necessary for construction to begin.

About Tejon Mountain Village

As a part of the Tejon Ranch Vision of conservation, continued ranching, and
limited development, Tejon Ranch and DMB Associates are carefully planning the
development of Tejon Mountain Village. With approximately 80 percent of its land
preserved as natural open space, Tejon Mountain Village will be a remarkable,
environmentally sensitive mountain resort community.
www.TejonMountainVillage.com.

About DMB Associates

DMB Associates is Tejon Ranch`s partner in Tejon Mountain Village. DMB is one of
the most respected real estate companies in the West, known for creating
sustainable communities that thoughtfully and responsibly address the
environment. DMB's business practices are predicated on creating truly great
places and on forging lasting, mutually beneficial partnerships with
stakeholders, municipalities, landowners and communities. More information about
DMB Associates can be found online at www.dmbinc.com.

About Tejon Ranch

Tejon Ranch Co. is listed on the New York Stock Exchange under the symbol TRC.
Tejon Ranch is a diversified real estate development and agribusiness company,
whose principal asset is its 270,000-acre land holding located approximately 60
miles north of Los Angeles and 30 miles south of Bakersfield. More information
about Tejon Ranch Co. can be found online at www.tejonranch.com.

Tejon Ranch Company
Barry Zoeller, Vice President
Director of Corporate Communications
661-663-4212
bzoeller@tejonranch.com

Copyright Business Wire 2009