Exhibit 99.1

Sabine Royalty Trust

News Release

SABINE ROYALTY TRUST ANNOUNCES

MONTHLY CASH DISTRIBUTION FOR MAY

Dallas, Texas, May 3, 2012 – Sabine Royalty Trust (NYSE: SBR) today declared a cash distribution to the holders of its units of beneficial interest of $0.25815 per unit, payable on May 29, 2012, to unit holders of record on May 15, 2012. Sabine’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.sbr-sabineroyalty.com/.

This distribution reflects primarily the oil production for February 2012 and the gas production for January 2012. Preliminary production volumes are approximately 29,548 barrels of oil and 553,975 Mcf of gas. Preliminary average prices are approximately $100.09 per barrel of oil and $3.03 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 (bbls)		Gas (Mcf)		Oil (per bbl)		Gas (per Mcf)
Current Month		29,548		553,975	$	100.09	$	3.03
Prior Month		47,531		618,232	$	95.31	$	3.50

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.

Due to the timing of the end of the month of April, approximately $822,000 of revenue received will be posted in the following month of May in addition to normal receipts during May. Since the close of business in April and prior to this press release, approximately $1,039,000 in revenue has been received.

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