8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   ----------

                                    FORM 8-K

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                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported): NOVEMBER 4, 2003

                              SABINE ROYALTY TRUST
             (Exact name of Registrant as specified in its charter)


         DELAWARE                         1-8424                 76-6297143
(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)



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

         c.       Exhibits

                  99.1     Press Release dated November 4, 2003.

ITEM 12.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

      On November 4, 2003, the Registrant issued a press release announcing its
quarterly cash distribution to unitholders of record on November 17, 2003. 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.


                                SABINE ROYALTY TRUST

                                By: BANK OF AMERICA, N.A., TRUSTEE


                                     By: /s/ RON E. HOOPER
                                         ---------------------------------------
                                         RON E. HOOPER
                                         Senior Vice President and Administrator

Date:    November 5, 2003






                                  EXHIBIT INDEX



Exhibit
Number                      Description
- -------         -------------------------------------
             
   99.1         Press Release dated November 4, 2003.

EX-99.1

                                                                    EXHIBIT 99.1

SABINE ROYALTY TRUST

                                                                    NEWS RELEASE

                          SABINE ROYALTY TRUST DECLARES
                     MONTHLY CASH DISTRIBUTION FOR NOVEMBER

         DALLAS, TEXAS, NOVEMBER 4, 2003 - 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 $0.23582 per
unit, payable on November 28, 2003, to unit holders of record on November 17,
2003.

   Approximately $280,000 for ad valorem taxes for 2003 is being deducted from
this month's distribution as compared to $210,000 for 2002. These payments are
normal expenditures at this time of year. Also, due to the timing of the end of
the month of October, approximately $536,000 of revenue received will be posted
in the following month of November in addition to normal receipts during
November.

   Previously, unitholders who are not Oklahoma residents were subjected to a
new 5% Oklahoma income tax withholding. The Oklahoma Tax Commission has since
provided guidance that all unitholders of Sabine Royalty Trust will not be
subject to this withholding. Subsequently, this distribution is full and
complete for all unitholders. For those whom have had this withholding affect
their distributions, the Trustee or Transfer Agent will be in direct contact
with them for recapture of the amounts withheld. All unitholders, whether
resident or non-resident, are required to file with the State of Oklahoma an
annual tax return with the appropriate information as provided by the Trustee at
the end of the year.

   For more information on Sabine Royalty Trust, please visit our website at
www.sbr-sabineroyalty.com.

                                      * * *

    Contact:      Ron E. Hooper
                  Senior Vice President
                  Bank of America, N.A.
                  Toll Free - 800.365.6541