Microsoft Word 10.0.2627;UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the fiscal year ended June 30, 2003

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

Commission File Number: 0-7775

                         WESTLAND DEVELOPMENT CO., INC.
              (Exact name of Westland as specified in its charter)

            New Mexico                                         85-0165021
            ----------                                         ----------
  (State or other jurisdiction of                           (I.R.S. Employer
incorporation or other organization)                       Identification No.)

            401 Coors Boulevard, N.W., Albuquerque, New Mexico, 87121
               (Address of principal executive offices) (Zip Code)

         Westland's telephone number, including area code: 505-831-9600

        Securities registered pursuant to Section 12(b) of the Act: None

          Securities registered pursuant to Section 12(g) of the Act:

                            No Par Value Common Stock
                                (Title of Class)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that Westland was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Check if disclosure of delinquent filers in response to Item 405 of Regulation
S-B is not contained in this form, and no disclosure will be contained, to the
best of Westland's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. [ ]

State issuer's revenues for its most recent fiscal year: $ 13,861,155

State the aggregate market value of the voting stock held by non-affiliates
computed by reference to the price at which the stock was sold, or the average
bid and asked prices of such stock, as of a specified date within the past 60
days. On September 16, 2003, there were 703,154 No Par Value Common shares and
36,400 Class B shares owned by non-affiliates. The stock was sold on September
16, 2003 for $20 per share. Thus the aggregate market value of the voting stock
held by non-affiliates was $14,791,080.

The number of shares outstanding of each of Westland's classes of common stock,
as of September 16, 2003, was: No Par Value Common:
712,540 shares;  Class B $1.00 Par Value: 85,100 shares.


DOCUMENTS  INCORPORATED BY REFERENCE:

1) Proxy statement and Proxy for Annual Meeting of Shareholders for the year
ended June 30, 2003. 2) Annual Report to shareholders for the year ended June
30, 2003.


<PAGE>


                                     PART I

ITEM 1:  DESCRIPTION OF BUSINESS

Westland Development Co., Inc., a New Mexico for-profit corporation
("Westland"), is the successor to a community land grant corporation named Town
of Atrisco, which itself was a successor to a Spanish community land grant named
the Atrisco Land Grant. Information concerning the historical background of
these predecessor organizations and the conversion in 1967 from a community land
grant corporation into a business corporation can be found in Westland's Form 10
and its Form 10-K for the fiscal year ended June 30, 1974. With limited
exceptions, only lineal descendants of the incorporators of the Town of Atrisco
may own shares of Westland's Common Stock.

Westland's executive offices are located in its own building at 401 Coors
Boulevard, NW, Albuquerque, New Mexico, 87121, telephone (505) 831-9600, on land
which was originally part of the Atrisco Land Grant.

Westland's General Businesses.

Westland derives revenues through commercial and land leases, partnerships
formed for various development projects, developed lot sales to homebuilders and
bulk land sales to other land developers.

A.  Lands held for Investment.

Westland is the owner of approximately 57,000 acres of land located on the west
side of Albuquerque, New Mexico. Most of its property is held for long-term
investment and is leased for cattle grazing.

B.  Land Development and Sale.

Over the past 20 years, Westland developed six master plans and sold all of the
acreage included in them. Those master plans are identified as Atrisco Urban
Center and El Rancho Atrisco, Phases I through V. These lands, except for the
Phase V master plan, which was abandoned due to the introduction of the
Petroglyph National Monument, have now been substantially developed and sold.

In 1998 the City of Albuquerque and the County of Bernalillo finalized the
approval of a 6,400 acre master plan. For Westland to begin developing or
selling land within this planned area (Master Plan), the City must make
available the required utilities. In November 1998 Westland and the City of
Albuquerque executed a Pre-Annexation Agreement. In 2000, the City annexed an
initial 1,665 acres per the terms of the Pre-Annexation Agreement. The
Pre-Annexation Agreement requires that Westland construct at its own cost sewer
and water utilities for the initial 1,665 acres within the Master Plan area.
Westland has segregated the lands within the master plan area for development.

Westland has signed a contract for the construction of a pump station, a 4.3
million gallon reservoir and 36-inch transmission line for the water system.
Construction commenced in May 2003 and is expected to be completed by April
2004. The total cost of the initial water system infrastructure is estimated to
be approximately $7,000,000. When completed, Westland will convey the system to
the City of Albuquerque. These costs will be recovered through utility expansion
charges charged to each lot when connected to a City water meter and sold.

An additional approximately $30,000,000 to $35,000,000 will also be financed or
borne by Westland for additional off site water and sewer distribution and
collection lines, drainage facilities, and roads within the Master Plan Area.
Westland will be phasing these additional costs, but has a preliminary loan
commitment of approximately $9,500,000 to pay a portion of construction cost of
the water system and other infrastructure improvements within the Master Plan
Area.

At this time Westland is planning the first two subdivisions in the Master Plan
Area, named Sundoro North (approximately 58 acres) and Sundoro South
(approximately 34 acres) to be available for sale at approximately the time that
the water infrastructure is completed.

Additional costs of development of the properties for sale, to the extent that
Westland develops the properties, will be borne by Westland for on site water
and sewer distribution and collection lines, drainage facilities, and roads
within the annexed area with no reimbursement for the development of lots.
Depending upon the growth of development in this area, it may take 10 to 15
years for Westland to recover these costs.

Management remains committed to the construction of residential, industrial and
commercial developments for lease or sale. Westland's long term business
philosophy is to create revenues by enhancing the value of Westland's land
through careful planning and development, while retaining ownership of a major
portion of the land in perpetuity and to provide dividends for its shareholders,
when consistent with Westland's need for a sufficient cash flow to meet current
and near term operating expenses.

 C. Oil and Gas and Grazing Leases.

Approximately 50, 000 acres are leased to non-affiliated people for cattle
grazing. Because of the extreme drought in the area since 1998, Westland has
granted rent abatements to the tenants in each of the last four fiscal years.
During the year Westland entered into a five-year lease at $.40 per acre per
year with the heirs of the prior tenant.

Westland has entered into two oil and gas leases on portions of its properties.
Management is not aware of any drilling or other activities having been
conducted on any of the leased property during the last two fiscal years.

Westland also owns and leases certain commercial buildings.  (See "Revenue
Producing Properties".)

D. Other Projects.

1. Volcano Business Park consists of approximately 22 acres zoned for industrial
park uses, which were platted and developed into 14 lots. Westland, through a
partnership arrangement, owned 50% of a 172-unit self-storage facility on
approximately 1.7 acres of this property. During fiscal 2000, the facility was
expanded to provide outdoor storage for motor vehicles and boats. During fiscal
2003 the facility was sold.

2. In Phases 1 and 2 of the Painted Sky Subdivision, 105 single-family lots were
planned, constructed and completed during fiscal 2001 and fiscal 2002.
Construction of Painted Sky Subdivision Units 3 and 4, containing 98
single-family residential lots, was completed during fiscal year 2003.
Construction of Units 5 and 6, the remaining two units containing an additional
78 single family residential lots, also commenced during fiscal year 2003 and is
currently nearing completion.

3. Westland is also developing three other residential subdivisions in an area
west of Unser Blvd. and north of I-40, east of the Master Plan area. These are
Tierra Oeste Unit 3, containing 64 lots, was completed during fiscal year 2003.
The Crossing Unit 1, containing 72 lots was completed during fiscal year 2003,
construction is expected to commence in fiscal year 2004 on The Crossing Unit 2,
and initial engineering design of the Crossings Unit 3, is currently under way.
Sales of lots in one or more of these newly developing areas are anticipated to
continue during the current fiscal year.

4. Construction of the Cielo Oeste Subdivision, consisting of 75 residential
lots, began in fiscal 2003 and is currently nearing completion.

5. During fiscal year 2001, Bernalillo County completed construction of the
connection of Dennis Chavez (Rio Bravo Blvd.) from Coors S.W. to Paseo del
Volcan S.W. During fiscal year 2003 the City approved annexation of
approximately 80 acres of residential acreage and 20 acres of commercial acreage
owned by Westland, located north of Dennis Chavez and adjoining 118th St.
Westland is currently planning a residential subdivision on a portion of the 80
residential acres.

6. Westland previously reported that in 1994 it entered into a lease/option
arrangement related to approximately 100 acres located one mile north of I-40 on
Paseo del Volcan. Westland took possession and ownership of the facility in 1997
as a result of default in the terms of the lease/option. The Park contains a
fully developed recreation and softball complex. Westland has entered into a
lease with the City of Albuquerque. The City currently is leasing and using the
facility for softball league games.

7. Westland has a continuing corporate program of donating land or otherwise
assisting in projects that Management believes have a long term beneficial
effect to the development and furtherance of the educational and health of the
community and citizens. In the past it has donated lands for various purposes
and continues to receive requests, which it has evaluated, but no donation of
lands has been made during the past two fiscal years.

E. Reinvestment Properties

As part of Westland's plans to defer the tax burden arising from the sale of its
lands to the National Park Service under threat of condemnation for inclusion in
the Petroglyph National Monument, it reinvested the sale proceeds in the
properties discussed below and two vacant land parcels. As a result of these
purchases, Westland believes that it has deferred payment of taxes on the sales
of land to the National Park Service.

During fiscal year 2002 the City and Westland settled a condemnation action of
an approximately 16 acre tract of land located near the 98th St. and I-40
interchange with Westland receiving payment of $500,000, which amount will be
reinvested in replacement property during the next three or four years. During
fiscal year 2003 the City of Albuquerque, through condemnation, purchased
certain properties known as the Atrisco Terrace for approximately $5,300, 000.

The Commercial properties are the following:

a)    A commercial building at Coors Boulevard and Sequoia Road in Albuquerque
      at a cost of $2,630,000, $1,612,067 of which is subject to a Mortgage upon
      which Westland must pay monthly payments of $17,970. This building has
      been leased to Walgreen Company for 20 years at a fixed rent of $19,173
      per month plus additional rent based upon a formula of gross sales up to a
      maximum rent of $460,161 in any one year.

b)    A commercial building in Albuquerque's Midway Industrial Park at a cost of
      $1,074,000, $645,361 of which is subject to a Mortgage upon which Westland
      must make monthly payments of $6,893. This building has been leased to
      Circuit City Stores for a term of 10 years at an escalating rental
      beginning at $4.25 per square foot the first year and increasing in stages
      to $5.55 per square foot in the tenth year. The lessee has also been
      granted the right to extend the lease for two additional 5-year terms at
      escalating rental rates during each of the years of any extended term. The
      current rent is $10,410 per month. Although Circuit City continues to pay
      rent for the building, it currently is subleasing the building

c)    A commercial building located at Coors Boulevard and Central Avenue at a
      cost of $3,593,000, which is subject to a mortgage of $2,454,089 requiring
      payments of $24,682 per month. The building has been leased to Walgreen
      Company on a minimum 20-year lease at a fixed rent of $26,122 per month
      plus a percentage of gross sales, with the maximum annual rent being
      capped at $626,922. Walgreen Company may continue the term of the lease
      for an additional 40 years.

d)    A commercial building located at the SE corner of Eubank and Spain, N.E.,
      at a cost of approximately $1,331,000, which is subject to a mortgage of
      $838,715 requiring payments of $9,079 per month. The building has been
      leased to Marie Callender Pie Shops, Inc., on a minimum 10-year lease at a
      fixed rent of $11,000, plus a Percentage Rent in the amount of 6% of
      Annual Gross Sales in excess of $132,000. The tenant has the right to
      renew the lease for as many as three 5-year terms. Although Marie
      Callender Pie Shops, Inc., continues to pay rent for the building, it
      currently is subleasing the building.


e)    A commercial building located in El Paso, Texas at a cost of approximately
      $3,907,000, which is subject to a mortgage of $2,931,275 requiring
      payments of $25,403 per month. The building is leased to Walgreen Company
      on a minimum 20-year lease at a fixed rent of $28,167 per month, plus a
      percentage of gross sales with a maximum annual rent of $676,000.

Current Real Estate Market Conditions

The market conditions for the development and sale of properties in Albuquerque
appear to be stable for the near term. Westland has been able to sell the
residential properties it has developed. Demand appears to be continuing for
lots in the areas being developed by Westland, and Management is hopeful that
sales will increase next year if mortgage interest rates remain at relatively
low rates. Certain City Council members have expressed their belief that there
should be a moratorium or at least a slow-down on new development within the
City, and currently there is a community wide discussion of this concept.
Because of Westland's agreement with the City regarding its Master Planned area,
Westland does not believe that such a moratorium or slow-down will adversely
affect its efforts to finance and develop the initial 1665 acres of the Master
Planned area. Therefore, Management believes that for the foreseeable future,
residential, commercial and industrial construction will continue at a moderate
pace in the Albuquerque real estate market.

Competition

Westland's industrial parks - Volcano Business Park and the industrial lands
within the planned area now compete, and will continue to compete, with other
business and industrial parks in the Albuquerque area, including some that are
more established and some that are located nearer the major population centers
of Albuquerque.

Residential subdivisions on Westland's land compete with other areas in the
Albuquerque housing market (essentially Bernalillo County and portions of
Sandoval County and Valencia County), as well as with other subdivisions on the
west side of the City of Albuquerque. A number of large subdivisions to the
north of Westland's land are nearly fully sold. Growth continues in other large
subdivisions located about five to six miles north of Westland's lands as well
as properties owned by others located on Albuquerque's Southwest Mesa.

The implementation of certain mandated impact fees may have an as yet
undetermined effect on Westland's ability to sell property in competition with
developers of land located in neighboring counties upon which no such impact
fees may be assessed. (See "Governmental Regulations".)

Employees

As of September 15, 2003, Westland had eight full-time and four part-time
employees. Westland's president, who is also a director, is a full time
employee. Westland also had contractual relationships with other individuals,
including two of Westland's officers and directors, who provided various
services to Westland.

Government Regulations.

Westland's ability to undertake an active program of development of its land and
management of its rental properties (whether such development is performed by
Westland itself or by sale of Westland's land to others for development) is
dependent on Westland's ability to comply with laws and regulations of the State
of New Mexico, Bernalillo County, and the City of Albuquerque, applicable to
general environmental protection, land-use planning, annexation, zoning and
subdivisions. Both County and City regulate the subdivision of land and impose
zoning and building permit requirements. The subdivision regulations of both
Bernalillo County and the City of Albuquerque require, as a condition of
approval of proposed subdivisions, that adequate provision be made by the
developer for land use planning, water (both to quantity and quality), liquid
waste disposal, solid waste disposal, sufficient and adequate roads and storm
drain management.

During fiscal year 2003 the City of Albuquerque adopted a Planned Growth
Strategy, which may have a major negative impact on Westland's ability to
develop its unannexed lands for the foreseeable future. The existing annexed
properties in the Master Plan Area should not be affected by this new
legislation.

Although compliance with federal, state, and local provisions relating to the
protection of the environment, including laws regulating subdivisions and
land-use planning and endangered species, has in recent years had no material
effect upon the capital expenditures, earnings and competitive position of
Westland, no assurance can be given that this situation will continue. Requests
relating to drainage, traffic flow and similar matters from the City of
Albuquerque have occasionally delayed the receipt of necessary approvals and
required modification of development proposals. The expected opening of the
Eclipse plant at Double Eagle II Municipal Airport to the north of Westland's
land on Paseo del Volcan may have an impact on the use of and planning for
Westland's land in the vicinity of the airport. Management believes the
construction of the Eclipse factory at Double Eagle II Airport will favorably
impact the value of Westland's lands. However, some City Council members are
insisting that the size of the connecting water line be so small as to prohibit
tie-ins by other users, including Westland.

In the past at Westland's request, the City of Albuquerque created Special
Assessment Districts affecting the Atrisco Urban Center and El Rancho Atrisco
areas for the financing of water, sewer, paving and other street improvements,
and levied assessment liens on them. This mechanism may provide a way to finance
the improvements, and SAD's may be available for future development of
Westland's property.

A mandate by the State Legislature for implementation of Impact Fees may result
in Westland's lands being disadvantaged because the fees that surrounding
counties charge may be less than those that will be charged by Albuquerque and
Bernalillo County. Bernalillo County began the assessment of such fees on
January 1, 1996, but Albuquerque has not yet implemented the fees. Westland does
not believe that these fees will adversely impact its business in a material
way.

Availability of Water and Municipal Services.

The unavailability of sufficient water has often been a major inhibiting factor
in the land development business in the Southwest. The extent of Westland's
water rights has not been determined, however, Westland has retained the
services of two water specialists to investigate the existence of any Westland
water rights and to otherwise consult with Westland on matters involving
availability of water. As a result of these services, Westland has declared a
certain amount of water rights but said declared rights have not been
adjudicated to fully determine their validity. However, lack of ownership of
water rights by Westland would not be an inhibiting factor to the development of
Westland's land if adequate water were to be made available through the City of
Albuquerque, Bernalillo County and/or other water sources or by purchase by
Westland or by a developer that might purchase and develop land. For example,
Tierra West Mobile Home Park was created on land sold by Westland near Nine Mile
Hill and the recreation complex leased or purchased water rights and drilled
wells to meet their water needs.

Under present annexation policies of the City of Albuquerque, annexation to the
City of Albuquerque is a requirement by the City before it will extend water and
sewer services within a reasonable period of time after annexation. However, the
cost of water distribution and sewer lines must be borne by the developer, or by
subsequent purchasers of the annexed portions. The City and Westland have now
reached the agreement discussed above relating to provisions for utility
services to a portion of the Master Plan lands annexed by the City.

Most of Westland's land lies outside the municipal limits of the City of
Albuquerque and is not furnished with City water or other City services.
Westland experienced little difficulty in having its previous developments
furnished with services, but the same cannot be assumed for other areas of
Westland's land and future developments.

Other Factors Affecting Development of Westland's Land

Various activist groups, as well as neighborhood organizations occasionally take
actions that have, to some extent, delayed Westland's plans for the development
of some of its lands.


ITEM 2:  DESCRIPTION OF PROPERTIES

The major physical assets owned by Westland are its land, which is owned in fee
simple. The land is mostly comprised of approximately 57,000 acres of
undeveloped land held for long-term investment. Approximately 6,400 acres are
located in Westland's Master Plan area, of which 1665 acres have been annexed
into the City of Albuquerque and approximately 900 acres called the Atrisco
Terrace have been condemned by the City of Albuquerque for open space.

Westland also owns the Atrisco Urban Center office building, comprising
approximately 11,097 square feet, 4,166 of which is leased to Bank of America,
while the remainder is used by Westland for its executive offices. This building
is collateral for a $712,500 bank line of credit obtained in July, 2002.
Westland also owns five commercial buildings that are leased to others. (See
"Item 1. Business - Reinvestment Properties.")

Interstate Highway I-40, the main east-west highway through Albuquerque, crosses
Westland's land. Access to Westland's land from Interstate 40 is provided by the
Coors Boulevard interchange near the eastern edge of Westland's land, by the
Unser Boulevard interchange at the western edge of the Atrisco Urban Center, by
the 98th Street interchange to the west of the Atrisco Urban Center and by the
Paseo del Volcan interchange where I-40, Paseo del Volcan and Central Avenue
meet. Running north from the I-40 interchange, Paseo del Volcan traverses about
4 1/2 miles of Westland's land to connect to the Double Eagle II Airport.
Bernalillo County has extended Paseo del Volcan south of the I-40 interchange to
the point at which it intersects Dennis Chavez Blvd. to form an inner loop for
the City's southwest quadrant.

Westland and other landowners and developers (the Northwest Loop Association)
dedicated land and have paid a portion of the design costs for the Northwest
Loop, which has been approved by the New Mexico State Highway Commission. The
Northwest Loop will extend for approximately 39 miles and will connect I-40 and
1-25, through New Mexico State Highway 44, and will cross the western portion of
Westland's land lying within the Rio Puerco Valley. In 1995 Westland donated 169
acres for development of the Northwest Loop. Completion of the Northwest Loop is
not expected for 15 to 20 years.

Most of Westland's land is remote and not readily accessible, not serviced by
utilities, and Management believes that the bulk of its land will not be
available for development in the foreseeable future. A large portion of the
undeveloped land is leased for agricultural uses. (See "Item 1. Business."). The
bulk of Westland's undeveloped land is held for long-term investment.

In the opinion of Westland's Management, its developed property is adequately
covered by insurance.

ITEM 3:  LEGAL PROCEEDINGS

Other than ordinary routine litigation incidental to Westland's business,
neither Westland nor any member of management is the subject of any pending or
threatened legal proceedings.

ITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

No matters were submitted to a vote of security holders during the fourth
quarter of the fiscal year ended June 30, 2003.

                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Information required by this item is incorporated by reference to the item in
Westland's Annual Report to Shareholders for the year ended June 30, 2003
entitled "Market Price and Dividends on Westland's Common Equity and Related
Stockholder Matters."

ITEM 6: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

The information required by this item is incorporated by reference to the item
in Westland's Annual Report to Shareholders for the fiscal year ended June 30,
2003 entitled "Management's Discussion and Analysis of Financial Condition and
Results of Operations."

ITEM 7:  FINANCIAL STATEMENTS

The information required by this item is incorporated by reference to the
Financial Statements in Westland's Annual Report to Shareholders for the fiscal
year ended June 30, 2003 which is attached as exhibit 13 to this report.

ITEM 8: CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

There have been no changes in or disagreements with Accountants of the kind
described by Item 304 of Regulation S-B at any time during Westland's two (2)
most recent fiscal years.

                                    PART III

ITEM 9: DIRECTORS, EXECUTIVE OFFICERS PROMOTERS AND CONTROL PERSONS;  COMPLIANCE
WITH SECTION 16(a) OF THE EXCHANGE ACT

The information required by this item is incorporated by reference to the items
in Westland's definitive Proxy Statement for the October 31, 2003, Annual
Meeting of Shareholders entitled "Election of Directors" and "Directors and
Executive Officers". All reports required by Section 16(a) of the Exchange Act
to be filed during the fiscal year were filed.

ITEM 10:  EXECUTIVE COMPENSATION

The information required by this item is incorporated by reference to the item
in Westland's Definitive Proxy Statement for the October 31, 2003, Annual
Meeting of Shareholders entitled "Executive Compensation".

ITEM 11: SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The information required by this item is incorporated by reference to the item
in Westland's Definitive Proxy Statement for the October 31, 2003, Annual
Meeting of Shareholders entitled "Voting Securities and Principal Holders
Thereof".

ITEM 12:  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The information required by this item is incorporated by reference to the item
in Westland's Definitive Proxy Statement for the October 31, 2003, Annual
Meeting of Shareholders entitled "Voting Securities and Principal Holders
Thereof" and "Executive Compensation".

                                     PART IV

ITEM 13:  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

 (a) Financial statements and exhibits

1. The following financial statements of the Company are filed as part of this
report:

Report of Independent Certified Public Accountants Balance Sheet as of June 30,
2003 Statements of Earnings for the years ended June 30, 2003 and 2002
Statement of Stockholders' Equity for the years ended June 30, 2003 and 2002
Statements of Cash Flows for the years ended June 30, 2003 and 2002 Notes to
Financial Statements

2. Exhibits:

3(1). Articles of Incorporation and Bylaws:

3.1 Articles of Incorporation filed as an exhibit to Westland's Registration
Statement on Form 10-K on September 28, 1982 and incorporated herein by
reference.

3.2 Restated Bylaws filed as an exhibit with Westland's Annual Report on Form
10-KSB for the fiscal year ended June 30, 1993.

10. Material Contracts:

10.1 Consulting Agreement with Sosimo Padilla, dated December 18, 1992, as filed
with Westland's Annual Report on Form 10-KSB for the fiscal year ended June 30,
1993, and incorporated herein by reference.

10.2 Consulting Agreement with Polecarpio (Lee) Anaya, dated December 18, 1992,
as filed with Westland's Annual Report on Form 10-KSB for the fiscal year ended
June 30, 1993, and incorporated herein by reference.

10.3 Employment Agreement with Barbara Page, dated December 18, 1992, as filed
with Westland's Annual Report on Form 10-KSB for the fiscal year ended June 30,
1993, and incorporated herein by reference.

10.4 Lease Agreement dated April 25, 1994, between Central Avenue Partners and
Walgreen Co., as filed with Westland's Annual Report on Form 10-KSB for the
fiscal year ended June 30, 1998, and incorporated herein by reference.

10.5 Assignment of Lease dated April 20, 1995, from Central Avenue Partners to
Westland, as filed with Westland's Annual Report on Form 10-KSB for the fiscal
year ended June 30, 1995, and incorporated herein by reference.

10.6 Lease Agreement dated March 14, 1995, between George Brunacini and
Jeannette Brunacini and Circuit City Stores, Inc., as filed with Westland's
Annual Report on Form 10-KSB for the fiscal year ended June 30, 1995, and
incorporated herein by reference.

10.7 Assignment of Lease dated June 28, 1995, from George Brunacini and
Jeannette Brunacini to Westland, as filed with Westland's Annual Report on Form
10-KSB for the fiscal year ended June 30, 1995, and incorporated herein by
reference.

10.8 Lease Agreement dated March 19, 1996, between C.A.P. II, a New Mexico
general partnership, and Walgreen Co., as filed with Westland's Annual Report on
Form 10-KSB for the fiscal year ended June 30, 1996, and incorporated herein by
reference.

10.9 Assignment of Lease dated June 21, 1996, from C.A.P. II, a New Mexico
general partnership, to Westland, as filed with Westland's Annual Report on Form
10-KSB for the fiscal year ended June 30, 1996, and incorporated herein by
reference.

10.10 Lease Agreement dated June 29, 1999, between Marie Callender Restaurant
and Pie Shop, a California corporation, as filed with Westland's Annual Report
on Form 10-KSB for the fiscal year ended June 30, 1999, and incorporated herein
by reference.

10.11 Lease Agreement dated April 21, 1999 between C.A.P. II, a New Mexico
general partnership and Walgreen, Co., an Illinois corporation as filed with
Westland's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2001,
and incorporated herein by reference.

13 Westland's 2003 Annual Report to Shareholders.

99 Principal executive and financial officer certification pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.

Computation of Per Share Earnings:

11. Statement regarding computation of per share earnings is incorporated by
reference to Note A(9) to the Financial Statements incorporated herein by
reference to Westland's Annual Report to Shareholders for the Fiscal year ended
June 30, 2003.

Subsidiaries of Westland:

Westland has the following subsidiaries:

                  Name                              State of Incorporation

     ECS, Inc.                                      New Mexico - non-profit
     Westland Community Services, Inc               New Mexico - non-profit

All other exhibits required by Item 601 of Regulation S-B are inapplicable to
this filing.

(b) Reports on Form 8-K: No reports of Form 8-K during the last quarter of the
period covered by this Report.


ITEM 14: CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

The Company maintains controls and procedures designed to ensure that
information required to be disclosed in this report is recorded, processed,
accumulated and reported to management, including the principal executive and
financial officer to allow timely decisions regarding the required disclosure.
Within 90 days prior to the filing date of this report, our management, with the
participation of its principal executive and financial officer, performed an
evaluation of the effectiveness of the design and operation of these disclosure
controls and procedures. The principal executive and financial officer has
concluded that such disclosure controls and procedures are effective at ensuring
that required information is disclosed in the Company's reports.

CHANGES IN INTERNAL CONTROLS

There were no significant changes in the Company's internal controls or in other
factors that could significantly affect these controls subsequent to the
evaluation date.


                                   SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, Westland caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized.


                         WESTLAND DEVELOPMENT CO., INC.


By:       Barbara Page
          -------------------------------------------------
          Barbara Page, President, Chief Executive Officer,
          Chief Financial Officer and Director

Date: September 16, 2003

In accordance with the Exchange Act, this report has been signed below by the
following persons in behalf of Westland and in the capacities and on the dates
indicated.


By       David C. Armijo
         --------------------------------------------------------------------
         David C. Armijo, Secretary-Treasurer and Principal Financial Officer

Date: September 16, 2003

In accordance with the Exchange Act, this report has been signed below by the
following persons in behalf of Westland and in capacities and on the dates
indicated.


By:      David C. Armijo
         -------------------------
         David C. Armijo, Director

Date: September 16, 2003


By:      Lee Anaya
         -------------------------------------------------------------
         Polecarpio (Lee) Anaya, Executive Vice President and Director

Date: September 16 2003


By:      Sosimo S. Padilla
         -----------------------------------------------------
         Sosimo S. Padilla, Director and Chairman of the Board

Date: September 16, 2003


By:      Josie G. Castillo
         ---------------------------
         Josie G. Castillo, Director

Date: September 16, 2003





<PAGE>


By:      Joe S. Chavez
         -----------------------
         Joe S. Chavez, Director

Date: September 16, 2003


By:      Charles V. Pena
         -------------------------
         Charles V. Pena, Director

Date: September 16, 2003


By:      Carlos Saavedra
         -------------------------
         Carlos Saavedra, Director

Date: September 16, 2003


By:      Barbara Page
         ----------------------
         Barbara Page, Director

Date: September 16, 2003

                                  Certification

I, Barbara Page, the principal executive and financial officer, of Westland
Development Co., Inc., certify that:

1.       I have reviewed this annual report on Form 10-KSB of Westland
         Development Co., Inc., SEC file No 0-7775;

2.       Based on my knowledge, this annual report does not contain any untrue
         statement of a material fact or omit to state a material fact necessary
         to make the statements made, in light of the circumstances under which
         such statements were made, not misleading with respect to the period
         covered by this annual report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this annual report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this annual report;

4.       I am responsible for establishing and maintaining disclosure controls
         and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for
         the registrant and have:

a)       designed such disclosure controls and procedures to ensure that
         material information relating to the registrant is made known to us by
         others within this entity, particularly during the period in which this
         annual report is being prepared:
b)       evaluated the effectiveness of the registrant's disclosure controls and
         procedures as of a date within 90 days prior to the filing date of this
         annual report (the "Evaluation Date"); and
c)       presented in this annual report my conclusions about the effectiveness
         of the disclosure controls and procedures based on my evaluation as of
         the Evaluation Date.

5.       I have disclosed, based on my most recent evaluation, to the
         registrant's auditors and the registrant's board of directors:

a)       all significant deficiencies in the design or operation of internal
         controls which could adversely affect the registrant's ability to
         record, process, summarize and report financial data and have
         identified for the registrant's auditors any material weaknesses in
         internal controls; and
b)       any fraud, whether or not material, that involves management or other
         employees who have a significant role in the registrant's internal
         controls; and

6.       I have indicated in this annual report whether there were significant
         changes in internal controls or in other factors that could
         significantly affect internal controls subsequent to the date of my
         most recent evaluation, including any corrective actions with regard to
         significant deficiencies and material weaknesses.


Date: September 16, 2003

          Barbara Page
          -------------------------------------------------------
          Barbara Page, principal executive and financial officer


There are no other certifying officers.