EX-99.1 2 ex99_1.htm EHIBIT 99.1 PRESS RELEASE ex99_1.htm
EXHIBIT 99.1


 
[NEWS RELEASE LETTERHEAD OF CROSS TIMBERS ROYALTY TRUST APPEARS HERE]


CROSS TIMBERS ROYALTY TRUST
DECLARES FEBRUARY CASH DISTRIBUTION

 
    Dallas, Texas, February 19, 2008 - Bank of America, N.A., as Trustee of the Cross Timbers Royalty Trust (NYSE - CRT), today declared a cash distribution to the holders of its units of beneficial interest of $0.348821 per unit, payable on March 14, 2008, to unitholders of record on February 29, 2008.  The following table shows underlying oil and gas sales and average prices attributable to the current month and prior month distributions.
 
   
Underlying Sales
Volumes
  
Average Price
   
Oil
(Bbls)
  
Gas
(Mcf)
  
Oil
(per Bbl)
  
Gas
(per Mcf) 
Current Month                    
    
21,000
    
173,000
  
$
79.28
  
$
9.66
                          
Prior Month
    
18,000
    
176,000
  
$
89.09
  
$
8.64 (a)
 
 (a)  Excludes $553,313 related to lawsuit settlement proceeds for the underpayment of royalties on certain San Juan Basin
    properties, which increases the average price to $12.15 per Mcf.
 
The January 2008 distribution included lawsuit settlement proceeds related to the underpayment of royalties on certain San Juan Basin properties.  Based on the information received by XTO Energy, the prior month distribution included additional royalties in the amount of $744,702, or approximately $0.12 per unit.  Of this amount, $191,389, or approximately $0.03 per unit, was interest income.
 
        For more information on the Trust, please visit our web site at www.crosstimberstrust.com.
 
* * *

Contact:
Nancy G. Willis
Vice President
Bank of America, N.A.
Toll Free - 877/228-5084