Permian Basin Royalty Trust Announces August Cash Distribution

    DALLAS, Aug. 19 /EMWNews/ -- U.S. Trust, as Trustee of the

Permian Basin Royalty Trust (NYSE: PBT), today declared a cash distribution

to the holders of its units of beneficial interest of $.278952 per unit,

payable on September 15, 2008, to unit holders of record on August 29,

2008.



    This month's distribution increased due to increases in prices for oil

offset by a decrease in gas pricing. Also, some prior period adjustments in

both oil and gas production substantially increased this month's posting of

production revenue. This would primarily reflect production for the month

of June.



    The worldwide market conditions continue to affect the pricing for

domestic production. It is difficult to predict what effect these

conditions will have on future distributions.



    Production for Waddell Ranch and the Texas Royalty Properties combined

for oil and gas respectively was 72,226 bbls and 343,380 mcf. The average

price for oil was $127.94 per bbl and for gas was $12.76 per mcf. Capital

expenditures were approximately $430,570. The numbers provided reflect what

was net to the Trust.










                        Net to Trust Sales

                            Volumes                   Average Price

                        Oil          Gas             Oil           Gas

                      (bbls)        (mcf)         (per bbl)     (per mcf)

    Current Month     72,226       343,380        $127.94         $12.76



    Prior Month       60,195       287,147        $123.25         $14.07



    For additional information, including the latest financial reports on

Permian Basin Royalty Trust, please visit our website at

http://www.pbt-permianbasintrust.com/.