EXHIBIT 99.1
 
TEXAS PACIFIC LAND TRUST

1700 Pacific Avenue
Suite 2770
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
           
   
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 period
     9,681,431       10,019,767


   
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 period
     9,739,570       10,070,246


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.