Exhibit 99.1

Permian Basin Royalty Trust

News Release

PERMIAN BASIN ROYALTY TRUST

ANNOUNCES JANUARY CASH DISTRIBUTION

     DALLAS, Texas, January 19, 2010 — Permian Basin Royalty Trust (NYSE: PBT) (“Permian”), today declared a cash distribution to the holders of its units of beneficial interest of $.110049 per unit, payable on February 12, 2010, to unit holders of record on January 29, 2010. 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 its website at http://www.pbt-permianbasintrust.com/.

     This month’s distribution decreased slightly from the previous month due primarily to the decline of both production of both oil and gas. This would primarily reflect production for the month of November. 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 53,978 bbls and 236,472 Mcf. The average price for oil was $72.99 per bbl and for gas was $6.48 per Mcf. Capital expenditures were approximately $176,528. 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		53,978		236,472	$	72.99	$	6.48
Prior Month		58,651		261,772	$	71.29	$	5.98

     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.

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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