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TEJON RANCH CO Director's Dealing 2006

May 31, 2006

32894_dirs_2006-05-31_0795ee7e-654c-4f2e-af0f-8e1038f16cd1.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEJON RANCH CO (TRC)
CIK: 0000096869
Period of Report: 2006-05-30

Reporting Person: DREW JOSEPH E (Sr. Vice President)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-05-30 Tejon Ranch Co Common Stock A 10522 $42.40 Acquired 10522 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Tejon Ranch Co. Restricted Stock Units $ Tejon Ranch Co Common Stock () 4005 Direct
Tejon Ranch Co. Common Stock Options $ Tejon Ranch Co. Common Stock () 18000 Direct

Footnotes

F1: No new stock options or restricted stock units were granted. This is for information and update purposes only.