DALLAS, May 5 /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
$0.26979 per unit, payable on May 29, 2003, to unit holders of record on
May 15, 2003.
Due to the timing of the end of the month of April, approximately
$1,500,000 of revenue received will be posted in the following month of May in
addition to normal receipts during May. 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.
For more information on Sabine Royalty Trust, please visit our website at
http://www.sbr-sabineroyalty.com .
SOURCE Sabine Royalty Trust
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Related links:
http://www.sbr-sabineroyalty.com
Company News On-Call:
http://www.prnewswire.com/comp/118881.html
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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