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 MAY CASH DISTRIBUTION

 
    Dallas, Texas, May 19, 2008 - U.S. Trust, Bank of America Private Wealth Management, 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 $0.426042 per unit, payable on June 13, 2008, to unitholders of record on May 30, 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                    
    
17,000
    
159,000
  
$
96.94
  
$
9.20 (a)
                          
Prior Month
    
20,000
    
165,000
  
$
84.42
  
$
9.80 
 
(a)  Excludes $315,527 related to lawsuit settlement proceeds for the underpayment of royalties on certain San Juan Basin properties,
    which increases the average price to $11.42 per Mcf.
 
    The May 2008 distribution includes lawsuit settlement proceeds related to the underpayment of royalties on certain San Juan Basin properties.  Based on the information received by XTO Energy, the current month distribution includes additional royalties in the amount of $545,590, or approximately $0.09 per unit.  Of this amount, $230,063, or approximately $0.04 per unit, is 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