Exhibit 99.1

Sabine Royalty Trust

News Release

SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR JANUARY

     Dallas, Texas, January 4, 2008 — 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 $0.33110 per unit, payable on January 29, 2008, to unit holders of record on January 15, 2008.

     This distribution reflects primarily the oil production for October 2007 and the gas production for September 2007. Preliminary production volumes are approximately 32,248 barrels of oil and 500,289 mcf of gas. Preliminary prices are approximately $82.89 per barrel of oil and $5.95 per mcf of gas. The table below compares this month’s production and prices to the previous months:

	Net to Trust Sales
	Volumes				Average Price
					Oil		Gas
	Oil (Bbls)		Gas (Mcf)		(per Bbl)		(per Mcf)
Current Month		32,248		500,289	$	82.89	$	5.95
Prior Month		32,214		458,632	$	77.02	$	6.01

     Due to the timing of the end of the month of December, approximately $569,000 of revenue received will be posted in the following month of January in addition to normal receipts during January. Revenues are only posted and distributed when they are received. Most energy companies normally issue payment of royalties on or about the 25^th of every month, and depending on mail delivery, a varying amount of royalties are not received until after the revenue posting on the last business day of the month. The revenues received after that date will be posted within 30 days of receipt. Since the close of business in December and prior to this press release, approximately $1,650,000 in revenue has been received.

     Also, approximately $564,000 for 2007 Ad Valorem taxes is being deducted from this month’s distribution as compared to $612,000 for 2006. These payments are normal expenditures at this time of year.

For additional information, including the latest financial reports on Sabine Royalty Trust, please visit our website at http://www.sbr-sabineroyalty.com/.

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