Texas Pacific Land Trust Fourth Quarter Earnings Release (Unaudited)

DALLAS--(BUSINESS WIRE)--

Texas Pacific Land Trust (NYSE:TPL):


TEXAS PACIFIC LAND TRUST

REPORT OF OPERATIONS - UNAUDITED

                                       Three Months Ended

                                       December 31, 2009  December 31, 2008

Rentals, royalties and other income    $ 3,642,204        $ 3,019,609

Land sales                               --                 --

Total income                           $ 3,642,204        $ 3,019,609

Provision for income tax               $ 746,736          $ 519,536

Net income                             $ 1,769,342        $ 1,197,880

Net income per sub-share               $ .18              $ .12

Average sub-shares outstanding during    9,938,380          10,272,592
period

                                       Year Ended

                                       December 31, 2009  December 31, 2008

Rentals, royalties and other income    $ 12,615,277       $ 18,701,572

Land sales                               523,010            823,440

Total income                           $ 13,138,287       $ 19,525,012

Provision for income tax               $ 3,130,720        $ 4,865,193

Net income                             $ 6,914,043        $ 10,939,773

Net income per sub-share               $ .69              $ 1.06

Average sub-shares outstanding during    10,018,028         10,354,408
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