Tejon Ranch Conservation Agreement Wins Governor`s Award

Historic conservation pact receives prestigious environmental honor
LOS ANGELES--(Business Wire)--
Governor Arnold Schwarzenegger today announced that the Tejon Ranch Conservation
and Land Use Agreement has won the Governor's Environmental and Economic
Leadership Award (GEELA) in recognition of the historic conservation pact signed
by Tejon Ranch Company (NYSE:TRC) and America`s leading conservation and
environmental organizations.

The Governor's Award, California's highest and most prestigious environmental
honor, recognizes individuals, organizations and businesses that have
demonstrated exceptional leadership for voluntary achievements in conserving
California's resources, protecting and enhancing the environment, and building
public-private partnerships. Awards are given in ten categories. The landmark
agreement is a winner in the Environmental and Economic Partnerships category.

Past winners of this prestigious award in that category include the Hearst Ranch
Conservation Project and the Irvine Ranch Land Reserve Trust. Pardee Homes, one
of Tejon Ranch`s partners in the development of the community of Centennial, won
in 2005 in the category of Sustainable Practices for its "Living Smart" green
building program.

The unprecedented conservation pact is the largest private conservation
agreement in California history and will permanently preserve up to 240,000
acres - 90% of the historic Tejon Ranch. That`s nearly three times the size of
the Hearst Ranch Conservation Project. The agreement protects and expands
foraging habitat for the California condor, safeguards other threatened or
endangered species such as the San Joaquin kit fox, the blunt-nosed leopard
lizard and the Tehachapi slender salamander. It permanently protects an unbroken
expanse of open space more than seven times the size of San Francisco, open
space that`s home to native grasslands, oak woodlands, Joshua trees and conifer
forests.

The agreement between Tejon Ranch Company and Audubon California, Endangered
Habitats League, Natural Resources Defense Council, Planning and Conservation
League, and the Sierra Club, also created the Tejon Ranch Conservancy, an
independent non-profit organization that recently concluded its first year
overseeing continued stewardship of the conserved lands.

The award specifically recognizes Robert A. Stine, President and CEO of Tejon
Ranch Company, and Eneas Kane, President and CEO of DMB Associates, Tejon
Ranch`s partner in its Tejon Mountain Village development, for their leadership
in negotiating the Agreement.

"This historic agreement to protect a California treasure illustrates something
that I have stressed since taking office - we can protect California`s
environment at the same time we pump up our economy," Governor Arnold
Schwarzenegger said.

"The Tejon Ranch Conservation and Land Use Agreement is consistent with our
vision to preserve California`s legacy and provide for California`s future, as
the Agreement does both" said Robert A. Stine, Tejon Ranch Company`s President
and CEO. "This agreement is good for conservation, good for our company and good
for California."

"Our company has deep history and experience in forging accords and settlements
that work toward long-term solutions with the environmental and conservation
communities," said Eneas Kane, President and CEO of DMB Associates, "and we are
humbled to have been a part of one of the great conservation achievements in
California history."

Tejon Ranch is currently engaged in the development of the communities of Tejon
Mountain Village and Centennial. Tejon Mountain Village, a mountain resort
development in the Tehachapi Mountains is one of the greenest, most ecologically
sensitive communities of its type ever proposed in California. Centennial, a
master planned new town in northwest Los Angeles County, likewise places a
strong emphasis on sustainability and environmental sensitivity, evidenced by
the fact that Centennial will be the first major development in Los Angeles
County to comply with both the state`s greenhouse gas reduction goals and the
county`s green building ordinance. In addition to the aforementioned Pardee
Homes, Tejon Ranch Company`s partners in the development of Centennial include
Lewis Investment Company and Standard Pacific Homes.

About the Governor`s Environmental and Economic Leadership Award

The Governor`s Environmental and Economic Leadership Awards program was
established in 1993. The award program is administered by the California
Environmental Protection Agency and the Resources Agency in collaboration with
the State and Consumer Services Agency, the California Department of Food and
Agriculture, and the Business, Transportation and Housing Agency.

About Tejon Ranch

Tejon Ranch Company 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.

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
innovative 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. In California, in
addition to Tejon Mountain Village, DMB is partnering with Cargill in the
proposed Saltworks development in Redwood City. Additional DMB communities in
California include Martis Camp and Lahonton in the Lake Tahoe area, Santa Luz in
Rancho Santa Fe, and Ladera Ranch and Rancho Mission Viejo in southern Orange
County. More information about DMB Associates can be found online at
www.dmbinc.com.

Tejon Ranch
Barry Zoeller, Vice President
Director of Corporate Communications
(661) 663-4212
bzoeller@tejonranch.com
or
DMB
Lauren Charpio
Vice President, Communications
(480) 367-7617
lcharpio@dmbinc.com

Copyright Business Wire 2009