1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 1, 1995 The Newhall Land and Farming Company (a California Limited Partnership) (Exact name of registrant as specified in its charter) California (State or other jurisdiction of incorporation) 1-7585 95-3931727 (Commission File Number) (IRS Employer Identification No.) 23823 Valencia Blvd., Valencia, CA 91355 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 805-255-4000 2 2. Item 5. Other Events Attached to this report on Form 8-K is a news release issued by the Partnership on December 1, 1995. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE NEWHALL LAND AND FARMING COMPANY (a California Limited Partnership) Registrant By Newhall Management Limited Partnership, Managing General Partner By Newhall Management Corporation, Managing General Partner Date: December 5, 1995 By /S/ Donald L. Kimball ------------------------------------------------ Donald L. Kimball, Vice President - Controller Newhall Management Corporation (Principal Accounting Officer) 3 NEWS RELEASE [THE NEWHALL LAND AND FARMING COMPANY LETTERHEAD] FOR IMMEDIATE RELEASE Contact: Marcia Ward The Newhall Land and Farming Company (805) 255-4445 Fred Mickaelian, Jr. Mickaelian Associates (213) 268-1152 NEWHALL LAND AND FARMING ANNOUNCES 1.5 MILLION UNIT REPURCHASE PROGRAM VALENCIA, California, December 1, 1995 -- The Newhall Land and Farming Company (NYSE, PSE/NHL) today announced that a unit repurchase program of up to 1.5 million units was approved at a special meeting of its Board of Directors. The units will be repurchased from time to time in the open market, depending on market conditions. Currently, the Company has 36,172,143 units outstanding. The program will be funded by the sale of agricultural land and more rapid residential land sales which are anticipated in 1996. A portion of the proceeds will be used to reduce debt. Newhall Land is a developer of new towns and master-planned communities. Current projects include the new town of Valencia in California and McDowell Mountain Ranch in Scottsdale, Arizona. Newhall Ranch, a community going through the initial planning process, and Valencia together form one of the nation's most valuable landholdings. They are located on the Company's 37,000 acres, 30 miles north of downtown Los Angeles. 95.18