8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 18, 2004

PERMIAN BASIN ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

Texas	1-8033	75-6280532
(State or other jurisdiction of	(Commission	(I.R.S. Employer
incorporation or organization)	File Number)	Identification No.)

Trust Division
Royalty Trust Group
Bank of America, N.A.
901 Main Street, 17th Floor
Dallas, Texas	75202
(Address of principal executive offices)	(Zip Code)

Registrant’s Telephone Number, including area code: (214) 209-2400

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

TABLE OF CONTENTS

	Item 7. Financial Statements and Exhibits.
	Item 12. Results of Operations And Financial Condition.
SIGNATURES
EXHIBIT INDEX
Press Release

Item 7. Financial Statements and Exhibits.

c. Exhibits

99.1 Press Release dated June 18, 2004.

Item 12. Results of Operations And Financial Condition.

     On June 18, 2004, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on June 30, 2004. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

     This Report on Form 8-K is being furnished pursuant to Item 12, Results of Operations and Financial Condition. The information furnished is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

PERMIAN BASIN ROYALTY TRUST
By:	BANK OF AMERICA, N.A., TRUSTEE FOR PERMIAN BASIN ROYALTY TRUST
By:	/s/ Jana L. Egeler
	Jana L. Egeler
	Assistant Vice President, Royalty Management

Date: June 23, 2004

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press Release dated June 18, 2004.

EX-99.1

Exhibit 99.1

Permian Basin Royalty Trust

News Release

PERMIAN BASIN ROYALTY TRUST
ANNOUNCES JUNE CASH DISTRIBUTION

     DALLAS, Texas, June 18, 2004 - Bank of America, N.A., as Trustee of the Permian Basin Royalty Trust (NYSE — PBT), today declared a cash distribution to the holders of its units of beneficial interest of $.063289 per unit, payable on July 15, 2004, to unit holders of record on June 30, 2004.

     This month’s distribution decreased from the previous month due primarily to slightly lower gas production in both the Waddell Ranch and Texas Royalty properties and a small increase in capital costs. Production for Waddell Ranch and the Texas Royalty Properties combined for oil and gas respectively was 57,799 bbls and 238,143 mcf. The average price for oil was $33.63 per bbl and for gas was $4.92 per mcf. This would primarily reflect production for the month of April. Capital expenditures were approximately $689,637. The numbers provided reflect what was net to the Trust.

     The 2003 Annual Report/10-K and the 1st Quarter 2004 report are now available. To obtain a copy, and for more information on Permian Basin Royalty Trust, please visit our website at http://www.pbt-permianbasintrust.com/.

* * *

Contact:	Ron E. Hooper
	Senior Vice President
	Bank of America, N.A.
	Toll Free — 877.228.5085