By Tricia Johnson
Updated August 20, 1999 at 04:00 AM EDT

BOUGHT A KING-SIZE RANCH! 5 BR, 6 BTH roost nestled among rolling cow pastures PRICE $4.5 million

Director James Cameron spent a boatload of cash on this enormous country spread outside Santa Barbara, just upstate from his primary Malibu residence. The 100-acre ranch includes a barn, horse stables, tennis courts, a lagoon-style swimming pool, and a helicopter pad, not to mention access to a private beach. A 6,900-square-foot main house is appointed with exotic woods and marble. And believe it or not, Cameron got a titanic deal on the place: The land is taxed at a lower rate because it’s part of an agricultural preserve, which means local cattle are allowed to roam and graze. That’s what we call a cash cow.