Exhibit 99.1
 
TEXAS PACIFIC LAND TRUST

1700 Pacific Avenue
Suite 1670
Dallas, Texas 75201
______


TRUSTEES:
Maurice Meyer III
John R. Norris III
James K. Norwood
Telephone (214) 969-5530
ROY THOMAS
General Agent
 
DAVID M. PETERSON
Assistant General Agent


TEXAS PACIFIC LAND TRUST

REPORT OF OPERATIONS - UNAUDITED
 
   
Three Months Ended
  
       
   
March 31, 2008
    
March 31, 2007
  
             
Rentals, royalties and other income
  
$
 4,588,487     $ 2,964,236  
                 
Land sales
     447,040       --  
                 
Total income
   $ 5,035,527     $ 2,964,236  
                 
Provision for income tax
   $ 1,248,203     $ 646,549  
                 
Net income
   $ 2,930,757     $ 1,570,613  
                 
Net income per sub-share
   $ .28     $ .15  
                 
Average sub-shares outstanding during period
     10,476,308       10,607,542  















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.