Third Avenue Value Fund Inc Sample Contracts

RECITALS:
Investment Advisory Agreement • July 23rd, 1997 • Third Avenue Value Fund Inc • Agricultural production-crops • New York
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EQSF ADVISERS, INC.
Joint Filing Agreement • July 23rd, 1997 • Third Avenue Value Fund Inc • Agricultural production-crops

In accordance with Rule 13d-1 (f) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, $0.50 par value per share, of Tejon Ranch Co., and that this Agreement be included as an Exhibit to such joint filing. This Agreement may be executed in any number of counterparts all of which taken together shall constitute one and the same instrument.

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