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    
           
   
June 30, 2008
  
June 30, 2007
  
           
Rentals, royalties and other income
  
$
5,243,698
  
$
3,581,661
  
               
Land sales
    
192,000
    
--
  
               
Total income
  
$
5,435,698
  
$
3,581,661
  
               
Provision for income tax
  
$
1,336,728
  
$
841,119
  
               
Net income
  
$
3,217,622
  
$
1,972,951
  
               
Net income per sub-share
  
$
.31
  
$
.19
  
               
Average sub-shares outstanding during period
    
10,432,250
    
10,576,042
  
 
     
 Six Months Ended
    
           
   
June 30, 2008
  
June 30, 2007
  
           
Rentals, royalties and other income
  
$
9,832,185
  
$
6,545,897
  
               
Land sales
    
639,040
    
--
  
               
Total income
  
$
10,471,225
  
$
6,545,897
  
               
Provision for income tax
  
$
2,584,931
  
$
1,487,668
  
               
Net income
  
$
6,148,379
  
$
3,543,564
  
               
Net income per sub-share
  
$
.59
  
$
.33
  
               
Average sub-shares outstanding during period
    
10,447,546
    
10,587,113
  


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.