JOINT FILING AGREEMENT
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.
IN WITNESS WHEREOF, the undersigned hereby execute this
Agreement this 23rd day of July, 1997.
EQSF ADVISERS, INC.
By:/s/ XXXXXX X. XXXXXXX
Xxxxxx X. Xxxxxxx
Chairman, President and Chief Executive Officer
THIRD AVENUE VALUE FUND
By:/s/ XXXXXX X. XXXXXXX
Xxxxxx X. Xxxxxxx
Chairman, President and Chief Executive Officer
THIRD AVENUE SMALL CAP VALUE FUND
By:/s/ XXXXXX X. XXXXXXX
Xxxxxx X. Xxxxxxx
Chairman, President and Chief Executive Officer
/s/ XXXXXX X. XXXXXXX
Xxxxxx X. Xxxxxxx
