DALLAS, April 3 /PRNewswire-FirstCall/ -- 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
$0.24613 per unit, payable on April 29, 2003, to unit holders of record on
April 15, 2003.
Due to the timing of the end of the month of March, approximately
$1,400,000 of revenue received will be posted in the following month of April
in addition to normal receipts during April. These revenues were not posted
primarily because of industry wide mergers of major oil companies which
resulted in wholesale changes of specific well and lease coding of revenue
proceeds to the Trust. These unannounced changes require intensive research
on the part of the Trust to accommodate and incorporate such changes into the
revenue processing flow. Once these changes are incorporated, this should
alleviate the level of revenues not distributed.
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
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