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Sabine Royalty Trust Declares Monthly Cash Distribution

    DALLAS, Jan. 3 /PRNewswire/ -- Bank of America, N.A., Dallas, Texas, as
Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash
distribution to the holders of its units of beneficial interest of
$0.27263 per unit, payable on January 29, 2002, to unit holders of record on
January 15, 2002.
    Included in this month's distribution is the receipt of approximately
$2,088,000 or 14.3 cents per unit relating to the resolution of ownership of
10 wells and representing approximately 26 months of revenue from those wells.
    Due to the timing of the end of the month of December, approximately
$43,000 of revenue will be posted in the following month of January in
addition to normal receipts during January.



SOURCE Sabine Royalty Trust




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    CONTACT:
    Ron E. Hooper, Senior Vice President of Bank
    of America, N.A., +1-800-365-6541, for Sabine Royalty Trust