Tejon Ranch and Rockefeller Group Development Corporation Name CB Richard Ellis to Represent Tejon Industrial Complex

Global Real Estate Firm to Market Joint Venture’s Industrial and Warehouse Locations at 1,450-Acre Master-Planned Logistics Hub Anchoring California’s Central Valley Trade Corridor

Tejon Ranch, CA., June 30, 2009 — The joint venture of Tejon Ranch Company (Tejon Ranch) and Rockefeller Group Development Corporation (Rockefeller Group) today announced that the brokerage professionals of CB Richard Ellis (CBRE) now exclusively represent the partnership for industrial real estate opportunities available at Tejon Industrial Complex (TIC), the 1,450-acre master-planned development anchoring California’s Central Valley trade corridor.

“Tejon Industrial Complex provides a real estate solution for California’s business community from a strategic Central Valley location,” said Barry Hibbard, Vice President of Commercial and Industrial Development with Tejon Ranch. “Our partnership is confident that CBRE’s strong international and regional presence coupled with an unrivaled services platform will communicate the unique advantages of this development to the broadest group of businesses looking to operate on the West Coast. Tejon Ranch is committed to bringing quality jobs and economic stimulus to the communities of Kern County through this master planned project.”

The CBRE industrial brokerage team representing the joint venture at TIC includes: Doug Sonderegger, Craig Peters, Bennett Robinson, Frank Geraci and Walt Chenoweth. The CBRE team will initially work with the joint venture on its first phase of speculative warehouse buildings and land sites for build-to-suit development within the current 177 acres of designated Foreign Trade Zone (FTZ) at TIC. The joint venture partnership has agreed to develop up to 500 acres dedicated to facilities for FTZ users in this initial period of development.

“The Tejon Ranch and Rockefeller Group Development Corporation partnership is focused on providing best-of-class operating locations for industrial real estate users,” said Tom McCormick with Rockefeller Group. “From move-in ready, modern warehouse facilities and entitled land for new development or expansions, to the benefits of Foreign Trade Zone status, immediate access to Interstate commercial corridors and links to the Ports of Los Angeles and Oakland, Tejon Industrial Complex offers a compelling location for California’s diverse business interests.”

The Tejon Ranch/Rockefeller Group partnership has already completed its first speculative 606,000-square-foot warehouse facility that is now ready for immediate occupancy. This modern facility is directly adjacent to current warehouse locations housing the operations of IKEA and Oneida Ltd at TIC, and is now being marketed by CBRE for long-term occupancy along with the additional first phase land sites within the FTZ for build-to-suit and spec development projects.

“We view this assignment as a strategic, long-term partnership similar to the one we’ve had over the years with Newhall Land,” said Doug Sonderegger, representing the CBRE industrial team. “Tejon Industrial Complex is in direct line to capture California’s next wave of economic progress tied to the state’s large consumer markets and an ever resilient import/export and manufacturing economy. This gateway project to California’s Central Valley has many of the fundamentals that existed in the now supply constrained Santa Clarita Valley that helped that area mature into an economic success story.”

TIC is a 1,450-acre master planned commercial and industrial development that anchors California’s central trade corridor. Strategically located for efficient logistics at the junction of Interstate 5 and Highway 99 just south of Bakersfield in Kern County, this signature development is already home to 3.3 million square feet of existing warehouse facilities and approximately 1,100 employees, including IKEA's North American Western Region Distribution Center, Brown Shoe/Famous Footwear’s West Coast Distribution Center, Oneida Ltd’s West Coast Distribution Center and more than 80-acres of retail offerings, including: a Petro Travel Plaza, TA Travel Center, Chevron, Best Western Hotel, In-N-Out Burger, a free-standing Starbucks, Panda Express, McDonald’s, Wendy’s and Iron Skillet Restaurant.

The TIC site is located between the Ports of Los Angeles / Long Beach and Oakland, putting warehouse operators approximately 60 minutes north of Los Angeles and four hours south of Oakland. This strategic position provides efficient access to the state’s two major port complexes for import diversification and contingency. The FTZ secured for the site will allow manufacturers and distributors to secure the many benefits associated with the streamlined movement, storage and use of imported goods and raw materials. TIC also allows for efficient outbound, roundtrip delivery service to 96 percent of California’s population and parts of Nevada and Arizona within the current Federal driver hours of service limitations, a key benefit to businesses serving California’s more than 37 million consumers and the Western Regions.

About CB Richard Ellis (CBRE)
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has more than 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company and Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.

About Rockefeller Group Development Corporation (RGDC)
RGDC is a national owner, developer, and manager of prestigious commercial real estate properties. Its development capabilities include corporate headquarters, landmark properties, multi-use urban complexes, multinational distribution facilities, suburban business parks, and foreign trade zones. RGDC, with locations in Mt. Olive, NJ, Miami, FL, and Irvine, CA, is an operating company of The Rockefeller Group, developer of the famed Rockefeller Center in New York City.

About Tejon Ranch Company (NYSE: TRC)
Tejon Ranch Company 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. For more information on the company, please go to www.tejonranch.com. For more information on Tejon Industrial Complex, please go to www.tejonranch.com/tic.