-----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,
 EIiWqWZggUgQyQPK+8+WI60zR04wFBaCDF2+HUSdWvXJw4ubs2pRGDPg3EzWQowc
 2ItgQEn0dFVO9v1TX+L9Zg==

<SEC-DOCUMENT>0001181431-03-024133.txt : 20030923
<SEC-HEADER>0001181431-03-024133.hdr.sgml : 20030923
<ACCEPTANCE-DATETIME>20030923182723
ACCESSION NUMBER:		0001181431-03-024133
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030923
FILED AS OF DATE:		20030923

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEJON RANCH CO
		CENTRAL INDEX KEY:			0000096869
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				770196136
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		4436 LEBEC ROAD
		STREET 2:		PO BOX 1000
		CITY:			LEBEC
		STATE:			CA
		ZIP:			93243
		BUSINESS PHONE:		6612483000

	MAIL ADDRESS:	
		STREET 1:		4436 LEBEC RD
		STREET 2:		PO BOX 1000
		CITY:			LEBEC
		STATE:			CA
		ZIP:			93243

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STINE ROBERT A
		CENTRAL INDEX KEY:			0001179841

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07183
		FILM NUMBER:		03906780

	BUSINESS ADDRESS:	
		STREET 1:		4436 LEBEC RD
		CITY:			LEBEC
		STATE:			CA
		ZIP:			93243
		BUSINESS PHONE:		6616634220

	MAIL ADDRESS:	
		STREET 1:		4436 LEBEC RD
		CITY:			LEBEC
		STATE:			CA
		ZIP:			93243
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd19031.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-09-23</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000096869</issuerCik>
        <issuerName>TEJON RANCH CO</issuerName>
        <issuerTradingSymbol>TRC</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001179841</rptOwnerCik>
            <rptOwnerName>STINE ROBERT A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P.O. BOX 1000</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LEBEC</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>93243</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>President / CEO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Tejon Ranch Co. Common Stock</value></securityTitle><transactionDate><value>2003-09-23</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2448</value></transactionShares><transactionPricePerShare><value>16.00</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>546435</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></
ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Tejon Ranch Co. Common Stock</value></securityTitle><transactionDate><value>2003-09-23</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2000</value></transactionShares><transactionPricePerShare><value>35.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>21927</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F1"/></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Tejon Ranch Co. Incentive Stock
 Option</value><footnoteId id="F2"/></securityTitle><conversionOrExercisePrice><value>16.00</value></conversionOrExercisePrice><transactionDate><value>2003-09-23</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2448</value></transactionShares><transactionPricePerShare><value>16.00</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1996-05-01</value></exerciseDate><expirationDate><value>2006-04-30</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Tejon Ranch Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2448</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>546435</value></sharesOwnedFollowingTrans
action></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">These shares are in the name of Robert A. and Betty C. Stine, as trustees for the Stine Family Trust.</footnote><footnote id="F2">Transaction occurred per a 10b5-1 trading plan.</footnote></footnotes><ownerSignature><signatureName>Robert A. Stine</signatureName><signatureDate>2003-09-23</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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