TEJON RANCH CO — Director's Dealing 2003

May 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEJON RANCH CO (TRC)
CIK: 0000096869
Period of Report: 2003-05-09

Reporting Person: STINE ROBERT A (President / CEO)

Footnotes

F1: These shares are in the name of Robert A. and Betty C. Stine, as trustees for the Stine Family Trust.

F2: Transaction occurred per a 10b5-1 trading plan.