Exhibit 99.1

Permian Basin Royalty Trust

News Release

PERMIAN BASIN ROYALTY TRUST

ANNOUNCES JUNE CASH DISTRIBUTION

     DALLAS, Texas, June 19, 2009 — Permian Basin Royalty Trust (NYSE: PBT), today declared a cash distribution to the holders of its units of beneficial interest of $.047032 per unit, payable on July 14, 2009, to unit holders of record on June 30, 2009.

     This month’s distribution decreased due primarily to lower production of both oil and gas but was offset by an increase in the price of oil. This would primarily reflect production for the month of April.

     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 41,233 bbls and 165,176 mcf. The average price for oil was $46.29 per bbl and for gas was $3.90 per mcf. Capital expenditures were approximately $859,141. The numbers provided reflect what was net to the Trust.

	Net to Trust Sales
	Volumes				Average Price
					Oil		Gas
	Oil (bbls)		Gas (mcf)		(per bbl)		(per mcf)
Current Month		41,233		165,176	$	46.29	$	3.90
Prior Month		47,543		179,146	$	40.10	$	3.63

     Effective June 1, 2009, American Stock Transfer & Trust Company (“AST”) became the new transfer agent and registrar for Permian Basin Royalty Trust. 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 at the dedicated toll free number 1-800-358-5861.

     Permian’s cash distribution history, current and prior year financial reports, a link to filings made with the Securities and Exchange Commission and more can be found on our website at http://www.pbt-permianbasintrust.com/.

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Contact: Ron E. Hooper
Senior Vice President
U.S. Trust, Bank of America Private Wealth Management, Trustee
Toll Free — 1.877.228.5085