Looks very similar to the UltraMag 50 (.50 BMG) but the handguard looks slightly different (smaller more numerous holes, different attachment to the receiver) and the sight rail is lower.
I just got the Leupold catalog in the mail with that same pic only larger. In the larger pic, it says "Cobb Mfg INC - 338 Lapua Mag" on the FF tube. Here's there website:
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