TEJON RANCH CO — Director's Dealing 2005

Jan 13, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEJON RANCH CO (TRC)
CIK: 0000096869
Period of Report: 2005-01-11

Reporting Person: CADWALADER CRAIG (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-11	Tejon Ranch Co Restricted Stock Units	$41.25	A	364	Acquired		Tejon Ranch Co. Common Stock (364)	Direct

Footnotes

F1: Restricted stock units in the Tejon Ranch Nonqualied Deferred Compensation Plan, granted pursuant to the Non-Employee Director Stock Incentive Plan. 364 shares vest on December 15. 2005. Convertible to Common Stock based on director election.