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, 2010  December 31, 2009

Rentals, royalties and other income     $ 4,662,308        $ 3,642,204

Land sales                                803,000            --

Total income                            $ 5,465,308        $ 3,642,204

Provision for income tax                $ 1,292,781        $ 746,736

Net income                              $ 2,832,533        $ 1,769,342

Net income per sub-share                $ .30              $ .18

Average sub-shares outstanding during     9,590,444          9,938,380
period

                                        Year Ended

                                        December 31, 2010  December 31, 2009

Rentals, royalties and other income     $ 17,353,602       $ 12,615,277

Land sales                                2,738,070          523,010

Total income                            $ 20,091,672       $ 13,138,287

Provision for income tax                $ 5,115,470        $ 3,130,720

Net income                              $ 11,308,711       $ 6,914,043

Net income per sub-share                $ 1.17             $ .69

Average sub-shares outstanding during     9,679,921          10,018,028
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