Westridge Golf Course Community Receives Final Approval

Business Wire,  May 26, 1999  

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VALENCIA, Calif.--(BUSINESS WIRE)--May 26, 1999--

The Newhall Land and Farming Co. (NYSE:NHL)(PCX:NHL) announced that Tuesday the Los Angeles County Board of Supervisors approved unanimously the company's 1,711-home Westridge Golf Course Community.

The plan consists of homes nestled in the foothills overlooking a Tournament Players Club championship golf course. Product will range from apartments, townhomes and condominiums to a variety of single- family, detached-home types, custom lots and estate homes.

The community will include an elementary school, and amenities such as a neighborhood park and recreation center. Lot sales are expected to begin in late 2000, with the golf-course opening expected in 2001.

The 18-hole TPC golf course will be a joint venture between Newhall Land and PGA TOUR Golf Course Properties. The company has enlisted PGA TOUR star Mark O'Meara to serve as player consultant on the design of the golf course, working with PGA TOUR Design Services Inc.

TPC at Valencia is designed to serve as the sight of an annual PGA TOUR-sanctioned golf tournament, enhancing the local economy and bringing national recognition to Valencia and the Santa Clarita Valley.

Newhall Land is a developer of new towns and master-planned communities. Its primary activity is the new town of Valencia. Newhall Ranch, a new community that recently received final approval, and Valencia together form one of the nation's most valuable landholdings. They are located on the company's 36,000 acres, 30 miles north of downtown Los Angeles.

The company maintains a Web site through the Internet at http://www.newhall.com.

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