-----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,
 T5bPsDxEmuR8EWdG5NSPA0sY0j2E5MHByLYtchXdIHuhTeP/aUr0LVQ41x9rYikg
 YUrGvXGLB7XcNzR8rT607A==

<SEC-DOCUMENT>0001181431-05-003926.txt : 20050120
<SEC-HEADER>0001181431-05-003926.hdr.sgml : 20050120
<ACCEPTANCE-DATETIME>20050120171350
ACCESSION NUMBER:		0001181431-05-003926
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050120
FILED AS OF DATE:		20050120
DATE AS OF CHANGE:		20050120

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:		05539419

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		6616634220

	MAIL ADDRESS:	
		STREET 1:		4436 LEBEC RD
		CITY:			LEBEC
		STATE:			CA
		ZIP:			93243

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEJON RANCH CO
		CENTRAL INDEX KEY:			0000096869
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd65445.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-01-20</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>2005-01-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>20.25</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32265</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Tejon Ranch Co. Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-01-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>43.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32265</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>20.32</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-01-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>20.32</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-01-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-01-22</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Tejon Ranch Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>428639</value>
                </sharesOwnedFollowingTransaction>
            </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>2005-01-20</signatureDate>
    </ownerSignature>
</ownershipDocument>

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