Permian Basin Royalty Trust Declares November Distribution

Permian Basin Royalty Trust declared a cash distribution to the holders of its units of beneficial interest of $.082868 per unit, payable on December 14, 2009, to unit holders of record on November 30, 2009.

This month's distribution decreased from the previous month due primarily to a decrease in production of both oil and gas and also a decrease in pricing for both oil and gas production. This would primarily reflect production for the month of September. 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 47,386 bbls and 195,437 Mcf. The average price for oil was $64.84 per bbl and for gas was $5.04 per Mcf. Capital expenditures were approximately $614,931. The numbers provided reflect what was net to the Trust.