Texas Pacific Land Trust Third Quarter Earnings Release (Unaudited)

DALLAS--(BUSINESS WIRE)--

Texas Pacific Land Trust (NYSE:TPL):


TEXAS PACIFIC LAND TRUST

REPORT OF OPERATIONS - UNAUDITED

                                       Three Months Ended

                                       September 30, 2010  September 30, 2009

Rentals, royalties and other income    $ 3,894,375         $ 3,370,119

Land sales                               --                  --

Total income                           $ 3,894,375         $ 3,370,119

Provision for income tax               $ 983,502           $ 852,704

Net income                             $ 2,228,177         $ 1,953,700

Net income per sub-share               $ .23               $ .19

Average sub-shares outstanding during    9,681,431           10,019,767
period

                                       Nine Months Ended

                                       September 30, 2010  September 30, 2009

Rentals, royalties and other income    $ 12,691,294        $ 8,973,073

Land sales                               1,935,070           523,010

Total income                           $ 14,626,364        $ 9,496,083

Provision for income tax               $ 3,822,689         $ 2,383,984

Net income                             $ 8,476,178         $ 5,144,701

Net income per sub-share               $ .87               $ .51

Average sub-shares outstanding during    9,739,570           10,070,246
period



This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the Trust's future operations and prospects, the markets for real estate in the areas in which the Trust owns real estate, applicable zoning regulations, the markets for oil and gas, production limits on prorated oil and gas wells authorized by the Railroad Commission of Texas, expected competition, management's intent, beliefs or current expectations with respect to the Trust's future financial performance and other matters. We assume no responsibility to update any such forward-looking statements.


    Source: Texas Pacific Land Trust