UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                 SCHEDULE 13G

                  UNDER THE SECURITIES EXCHANGE ACT OF 1934

                         (AMENDMENT NO. ____4_____)*
                            Tejon Ranch Co.                        
_________________________________________________________________
                               (Name of Issuer)
                   Common
_________________________________________________________________
                        (Title of Class of Securities)
                                  879080109
                         ____________________________
                                (CUSIP Number)

Check the following box if a fee is being paid with this statement 
___.  (A fee is not required only if the filing person:  (1) has a 
previous statement on file reporting beneficial ownership of more 
than five percent of the class of securities described in Item 1; 
and (2) has filed no amendment subsequent thereto reporting 
beneficial ownership of five percent or less of such class.) (See 
Rule 13d-7).

*The remainder of this cover page shall be filled out for a 
reporting person's initial filing on this form with respect to the 
subject class of securities, and for any subsequent amendment 
containing information which would alter the disclosures provided 
in a prior cover page.

The information required in the remainder of this cover page shall 
not be deemed to be "filed" for the purpose of Section 18 of the 
Securities Exchange Act of 1934 ("Act") or otherwise subject to 
the liabilities of that section of the Act but shall be subject to 
all other provisions of the Act (however, see the Notes).
                              Page 1 of 3 pages




CUSIP NO. 879080109
          ---------
                                     13G
_______________________________________________________________________________
1    NAME OF REPORTING PERSON
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

             State of Wisconsin Investment Board
                     39-6006423        
_______________________________________________________________________________
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
                                                   (a)_____
             Not Applicable                                (b)_____
_______________________________________________________________________________
3    SEC USE ONLY


_______________________________________________________________________________
4    CITIZENSHIP OR PLACE OF ORGANIZATION

             Madison, Wisconsin
_______________________________________________________________________________
                   5     SOLE VOTING POWER
    NUMBER OF                              1,076,000
      SHARES       ____________________________________________________________
  
  BENEFICIALLY     6     SHARED VOTING POWER
    OWNED BY                               Not Applicable
      EACH         ____________________________________________________________
 
   REPORTING       7     SOLE DISPOSITIVE POWER
    PERSON                                 1,076,000
      WITH         ____________________________________________________________
                   8     SHARED DISPOSITIVE POWER
                                           Not Applicable
_______________________________________________________________________________
9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

             1,076,000 
_______________________________________________________________________________
10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES  CERTAIN 
     SHARES *
             Not Applicable                                
_______________________________________________________________________________
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9                
                        
             8.48%
_______________________________________________________________________________
12   TYPE OF REPORTING PERSON *

             EP (Public Pension Fund)
_______________________________________________________________________________

                    * SEE INSTRUCTION BEFORE FILLING OUT!
                              Page 2 of 3 pages





ITEM 1.  ISSUER
         (a)   Tejon Ranch Co.                                
         (b)   4436 Lebec Road, P.O. Box 1000        
                Lebec, CA. 93243
ITEM 2.  PERSON FILING
         (a)   State of Wisconsin Investment Board        
         (b)   P.O. Box 7842
               Madison, WI 53707
         (c)   Wisconsin State Agency
         (d)   See cover page
         (e)   See cover page

ITEM 3.  THIS STATEMENT IS FILED PURSUANT TO 13D-1(B) OR 13D-2(B) AND THE STATE 
OF WISCONSIN INVESTMENT BOARD IS A GOVERNMENT AGENCY WHICH MANAGES PUBLIC
PENSION FUNDS SUBJECT TO PROVISIONS COMPARABLE TO ERISA.

ITEM 4.  OWNERSHIP
         (a)   See Row 9 on Page 2
         (b)   See Row 11 on Page 2
         (c)   The State of Wisconsin Investment Board retains sole voting and 
               dispositive power for all shares.

ITEM 5.  IF THIS STATEMENT IS BEING FILED TO REPORT THE FACT THAT AS OF THE     
DATE HEREOF THE REPORTING PERSON HAS CEASED TO BE THE BENEFICIAL OWNER OF MORE
THAN FIVE PERCENT OF THE CLASS OF SECURITIES, CHECK THE FOLLOWING ____.

ITEM 6.  NOT APPLICABLE

ITEM 7.  NOT APPLICABLE

ITEM 8.  NOT APPLICABLE

ITEM 9.  NOT APPLICABLE

ITEM 10. CERTIFICATION
        By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course
of business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purposes or effect.

                                  SIGNATURE
        
        After reasonable inquiry to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                              February 13, 1995
                           -----------------------
                                     Date

                                George Natzke
                           -----------------------
                                  Signature

                         George Natzke, Administrator
                     -----------------------------------
                                  Name/Title
                                 Page 3 of 3