Permian Basin Royalty Trust Announces May Cash Distribution

DALLAS, May 18 /PRNewswire-FirstCall/ -- 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 $.050173 per unit, payable on
June 12, 2009, to unit holders of record on May 29, 2009.

This month's distribution increased due primarily to higher oil prices and
increased production due to market demand. This would primarily reflect
production for the month of March.

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 47,543 bbls and 179,146 mcf. The average price for
oil was $40.10 per bbl and for gas was $3.63 per mcf. Capital expenditures
were approximately $215,518. 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 47,543 179,146 $40.10 $3.63

Prior Month 38,277 136,619 $31.76 $4.18

Effective June 1, 2009, American Stock Transfer & Trust Company ("AST") will
serve as the new transfer agent and registrar for Permian Basin Royalty Trust.
Beginning June 1st, unitholders with registered ownership accounts can
contact AST with questions relating to transfers of ownership and instruction,
a change of address, direct deposit of distribution checks, and any other
account related questions. A dedicated toll free number to call AST will be
provided to registered unitholders as soon as it becomes available.

For additional information, including current financial reports on Permian
Basin Royalty Trust, please visit our website at
http://www.pbt-permianbasintrust.com/.

SOURCE U.S. Trust

Ron E. Hooper, Senior Vice President of U.S. Trust, Bank of America Private
Wealth Management, Trustee, 1-877-228-5085