-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 H8b7YpDiAfZnITCtbb5rnjzkaHZp8c57qOMdajJuveOElGs30wePZItPe2dhmyYY
 uYrTiW4GiKaygVKBbIABQA==

<SEC-DOCUMENT>0001179110-03-004059.txt : 20030724
<SEC-HEADER>0001179110-03-004059.hdr.sgml : 20030724
<ACCEPTANCE-DATETIME>20030723160154
ACCESSION NUMBER:		0001179110-03-004059
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030721
FILED AS OF DATE:		20030723

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DIERCKMAN THOMAS E
		CENTRAL INDEX KEY:			0001242752

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08885
		FILM NUMBER:		03798397

	MAIL ADDRESS:	
		STREET 1:		23823 VALENCIA BLVD
		CITY:			VALENCIA
		STATE:			CA
		ZIP:			91355

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEWHALL LAND & FARMING CO /CA/
		CENTRAL INDEX KEY:			0000751976
		STANDARD INDUSTRIAL CLASSIFICATION:	LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552]
		IRS NUMBER:				953931727
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		23823 VALENCIA BLVD
		CITY:			VALENCIA
		STATE:			CA
		ZIP:			91355
		BUSINESS PHONE:		6612554000

	MAIL ADDRESS:	
		STREET 2:		23823 VALENCIA BLVD
		CITY:			VALENCIA
		STATE:			CA
		ZIP:			91355
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-07-21</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000751976</issuerCik>
        <issuerName>NEWHALL LAND &amp; FARMING CO /CA/</issuerName>
        <issuerTradingSymbol>NHL</issuerTradingSymbol>
</issuer>
<reportingOwner><reportingOwnerId>
            <rptOwnerCik>0001242752</rptOwnerCik>
            <rptOwnerName>DIERCKMAN THOMAS E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Senior Vice President</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>2003-07-21</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>8000</value>
</transactionShares>
<transactionValue><value>14.625</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>000</value>
<footnoteId id="F5"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>2003-07-21</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>5111</value>
</transactionShares>
<transactionValue><value>33.40</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>000</value>
<footnoteId id="F5"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>2003-07-21</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F6"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionValue><value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>66173</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>1988-08-08</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F6"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionValue><value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>72</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By spouse</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>1988-08-08</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F6"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionValue><value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>2913</value>
<footnoteId id="F2"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>Through 401(k) Plan</value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity><securityTitle><value>Partnership Units</value>
</securityTitle>
<transactionDate><value>1988-08-08</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>J</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F6"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>0</value>
</transactionShares>
<transactionValue><value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>20</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>NGP</value>
<footnoteId id="F3"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<derivativeSecurity><securityTitle><value>Employee Stock Option (Right to Buy)</value>
</securityTitle>
<conversionOrExercisePrice><value>14.625</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-07-21</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>8000</value>
</transactionShares>
<transactionValue><value>14.625</value>
</transactionValue>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>1988-08-08</value>
<footnoteId id="F4"></footnoteId>
</exerciseDate>
<expirationDate><value>2003-07-21</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Partnership Units</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>8000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeSecurity>
<footnotes><footnote id="F1">Exempt transaction under Rule 16b-3; exercise of employee unit option - payment of exercise price and payroll tax liability by delivering and withholding units.</footnote>
<footnote id="F2">Number of "equivalent units" held in unitized 401(k) plan account as of July 22, 2003.</footnote>
<footnote id="F3">Held by Newhall General Partnership; includes fractional interest held by Newhall Management Limited Partnership.</footnote>
<footnote id="F4">The option vested in four equal installments - July 1994 through July 1997.</footnote>
<footnote id="F5">Not actual amount - required field for electronic purposes only.</footnote>
<footnote id="F6">Not actual code - required field for electronic purposes only.</footnote>
</footnotes>
<ownerSignature><signatureName>Thomas E. Dierckman</signatureName>
<signatureDate>2003-07-23</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----