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): September 4, 2008

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.)
U.S. Trust, Bank of America Private
Wealth Management
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)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Press Release

Item 2.02. Results of Operations and Financial Condition.

     On September 4, 2008, the Registrant issued a press release announcing its monthly cash distribution to unitholders of record on September 15, 2008. A copy of 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 2.02, 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.

Item 9.01. Financial Statements and Exhibits.

c. Exhibits

 99.1 Press Release dated September 4, 2008.

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: September 5, 2008

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Press Release dated September 4, 2008.

EX-99.1

Exhibit 99.1

Sabine Royalty Trust

News Release

SABINE ROYALTY TRUST ANNOUNCES
MONTHLY CASH DISTRIBUTION FOR SEPTEMBER

     Dallas, Texas, September 4, 2008 – U.S. Trust, as Trustee of the Sabine Royalty Trust (NYSE: SBR), today declared a cash distribution to the holders of its units of beneficial interest of $0.64875 per unit, payable on September 29, 2008, to unit holders of record on September 15, 2008.

     This distribution reflects primarily the oil production for June 2008 and the gas production for May 2008, both including postings from the previous month’s production. Preliminary production volumes are approximately 35,315 barrels of oil and 506,549 Mcf of gas. Preliminary average prices are approximately $130.53 per barrel of oil and $11.00 per Mcf of gas. The table below compares this month’s production and prices to the previous month’s:

	Net to Trust Sales
	Volumes				Average Price
	Oil		Gas		Oil		Gas
	(Bbls)		(Mcf)		(per Bbl)		(per Mcf)
Current Month		35,315		506,549	$	130.53	$	11.00
Prior Month		43,765		560,527	$	115.13	$	10.11

     Due to the timing of the end of the month of August, approximately $190,000 of revenue received will be posted in the following month of September in addition to normal receipts during September. 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 August and prior to this press release, approximately $1,860,000 in revenue has been received. For the latest financial reports on Sabine Royalty Trust, please visit our website at http://www.sbr-sabineroyalty.com/.

*     *     *

Contact:	Ron E. Hooper
	Senior Vice President
	U.S. Trust, Bank of America Private Wealth Management
	Toll Free Number: 1.800.365.6541