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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 
 FORM 10-Q
 þ
    
    Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 For the Quarterly Period ended March 31, 2007
 o
    
    Transition Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
 For the transition period from  to
 Commission file number 1-8033
 PERMIAN BASIN ROYALTY TRUST
 (Exact Name of Registrant as Specified in the Permian Basin Royalty Trust Indenture)
 Texas
    
    
    
    75-6280532(State or Other Jurisdiction of
    
    
    
    (I.R.S. Employer Identification No.)Incorporation or Organization)
 
 
 
 þ o
  o þ o
 o þ




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TABLE OF CONTENTS  PART I  FINANCIAL INFORMATIONItem 1. Financial StatementsItem 2. Trustees Discussion and AnalysisItem 3. Qualitative and Quantitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II  OTHER INFORMATIONItems 1 through 5Item 6. ExhibitsSIGNATURESINDEX TO EXHIBITSCertification Pursuant to Section 302Certification Pursuant to Section 906    Table of Contents  PERMIAN BASIN ROYALTY TRUST
 
 PART I  FINANCIAL INFORMATION
 
 Item 1. Financial Statements
  
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
       
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##### Table of Contents



PERMIAN BASIN ROYALTY TRUST
 CONDENSED STATEMENTS OF ASSETS, LIABILITIES AND TRUST CORPUS
 March 31,2007
    
    
    December 31,(Unaudited)
    
    
    2006ASSETSCash and short-term investments
    
    $
    4,664,349
    
    
    $
    5,135,136Net overriding royalty interests in
producing oil and gas properties (net
of accumulated amortization of
$9,571,673,and $9,536,002 at March
31, 2007 and December 31, 2006,
respectively)
    
    
    1,403,543
    
    
    
    1,439,214TOTAL ASSETS
    
    $
    6,067,892
    
    
    $
    6,574,350LIABILITIES AND TRUST CORPUSDistribution payable to Unit holders
    
    $
    4,664,349
    
    
    $
    5,135,136Commitments and contingenciesTrust
corpus  46,608,796 Units of
beneficial interest authorized and
outstanding
    
    
    1,403,543
    
    
    
    1,439,214TOTAL LIABILITIES
AND TRUST CORPUS
    
    $
    6,067,892
    
    
    $
    6,574,350
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PERMIAN BASIN ROYALTY TRUST
 CONDENSED STATEMENTS OF DISTRIBUTABLE INCOME (UNAUDITED)
 THREE MONTHS ENDED
    
    THREE MONTHS ENDEDMarch 31, 2007
    
    March 31, 2006Royalty income
    
    $
    13,900,543
    
    
    $
    18,917,927Interest income
    
    
    30,785
    
    
    
    35,513$
    13,931,328
    
    
    $
    18,953,440General and
administrative
expenditures
    
    
    (322,276
    )
    
    
    (300,467
    )Distributable income
    
    $
    13,609,052
    
    
    $
    18,652,973Distributable
income per Unit
(46,608,796 Units)
    
    $
    .29
    
    
    $
    .40
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PERMIAN BASIN ROYALTY TRUST
 CONDENSED STATEMENTS OF CHANGES IN TRUST CORPUS (UNAUDITED)
 THREE MONTHS ENDED
    
    
    THREE MONTHS ENDEDMarch 31, 2007
    
    
    March 31, 2006Trust corpus, beginning of period
    
    $
    1,439,214
    
    
    $
    1,610,630Amortization of net overriding
royalty interests
    
    
    (35,671
    )
    
    
    (40,474
    )Distributable income
    
    
    13,609,052
    
    
    
    18,652,973Distributions declared
    
    
    (13,609,052
    )
    
    
    (18,652,973
    )Total Trust Corpus, end of period
    
    $
    1,403,543
    
    
    $
    1,570,156Distributions per Unit
    
    $
    .29
    
    
    $
    .40
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PERMIAN BASIN ROYALTY TRUST
 NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED)
 1.
    
    BASIS OF ACCOUNTINGThe Permian Basin Royalty Trust (Trust) was established as of November 1, 1980. The net
overriding royalties conveyed to the Trust include: (1) a 75% net overriding royalty carved
out of Southland Royalty Companys fee mineral interests in the Waddell Ranch in Crane
County, Texas (the Waddell Ranch properties); and (2) a 95% net overriding royalty carved
out of Southland Royalty Companys major producing royalty interests in Texas (the Texas
Royalty properties). The net overriding royalty for the Texas Royalty properties is
subject to the provisions of the lease agreements under which such royalties were created.
The financial statements of the Trust are prepared on the following basis:
 
    
    Royalty income recorded for a month is the amount computed and paid to Bank of
America, N.A. (Trustee) as Trustee for the Trust by the interest owners: Burlington
Resources Oil & Gas Company LP (BROG), a subsidiary of ConocoPhillips for the Waddell
Ranch properties and Riverhill Energy Corporation (Riverhill Energy), formerly a
wholly owned subsidiary of Riverhill Capital Corporation (Riverhill Capital) and
formerly an affiliate of Coastal Management Corporation (CMC), for the Texas Royalty
properties. Schlumberger Technology Corporation (STC) currently conducts all field,
technical and accounting operations on behalf of BROG with regard to the Waddell Ranch
properties. Riverhill Energy currently conducts the accounting operations for the
Texas Royalty properties. Royalty income consists of the amounts received by the
owners of the interest burdened by the net overriding royalty interests (Royalties)
from the sale of production less accrued production costs, development and drilling
costs, applicable taxes, operating charges, and other costs and deductions multiplied
by 75% in the case of the Waddell Ranch properties and 95% in the case of the Texas
Royalty properties.As was previously reported, in February 1997, BROG sold its interest in the Texas
Royalty properties to Riverhill Energy.The Trustee has been advised that in the first quarter of 1998, STC acquired all of
the shares of stock of Riverhill Capital. Prior to such acquisition by STC, CMC
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and Riverhill Energy were wholly-owned subsidiaries of Riverhill Capital. The
Trustee has further been advised that in connection with STCs acquisition of
Riverhill Capital, the shareholders of Riverhill Capital acquired ownership of all
of the shares of stock of Riverhill Energy. Thus, the ownership in the Texas
Royalty properties referenced above remained in Riverhill Energy, the stock
ownership of which was acquired by the former shareholders of Riverhill Capital.
    
    Trust expenses recorded are based on liabilities paid and cash reserves established
out of cash received or borrowed funds for liabilities and contingencies.
    
    Distributions to Unit holders are recorded when declared by the Trustee.
    
    Royalty income is computed separately for each of the conveyances under which the
Royalties were conveyed to the Trust. If monthly costs exceed revenues for any
conveyance (excess costs), such excess cannot reduce royalty income from other
conveyances, but is carried forward with accrued interest to be recovered from future
net proceeds of that conveyance.
 The financial statements of the Trust differ from financial statements prepared in
accordance with accounting principles generally accepted in the United States of America
(GAAP) because revenues are not accrued in the month of production and certain cash
reserves may be established for contingencies which would not be accrued
under GAAP. Amortization of the Royalties calculated on a unit-of-production basis is
charged directly to trust corpus. This comprehensive basis of accounting other than GAAP
corresponds to the accounting permitted for royalty trusts by the U.S. Securities and
Exchange Commission as specified by Staff Accounting Bulletin Topic 12:E, Financial
Statements of Royalty Trusts.New Accounting PronouncementsIn February 2006, the FASB issued SFAS No. 155, Accounting for Certain Hybrid Financial
Instruments  an amendment of FASB Statements No. 133 Accounting for Derivative Instruments
and No. 140 Accounting for Transfers and Servicing of Financial Assets and Extinguishments
of Liabilities. This statement resolves issues addressed in Statement 133 Implementation
Issue No. D1, Application of Statement 133 to Beneficial interests in Securitized Financial
Assets. This statement is effective for all financial instruments acquired or issued after
the beginning of an entitys first fiscal year that begins after September 15, 2006. The
Trust has no financial instruments and
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accordingly, the adoption of this new Standard did not impact the financial statements of the Trust.In March 2006, the FASB issued SFAS No. 156, Accounting for Servicing of Financial Assets 
an amendment of FASB Statements No. 140 Accounting for Transfers and Servicing of Financial
Assets and Extinguishments of Liabilities. This statement requires an entity to recognize a
servicing asset or servicing liability each time it undertakes an obligation to service a
financial asset by entering into a servicing contract in certain situations. This statement
is effective as of the beginning of an entitys first fiscal year that begins after
September 15, 2006. The adoption of this statement did not have
an effect on the Trusts financial statements.In July 2006, the FASB issued FASB Interpretation No. 48 (FIN 48), Accounting for
Uncertainty in Income Taxes, which clarifies the accounting for uncertainty in income taxes
recognized in the financial statements in accordance with SFAS No. 109, Accounting for
Income Taxes. FIN 48 is effective for fiscal years beginning after December 15, 2006. The
adoption of this statement did not have an effect on
the Trusts financial statements.In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements. This statement
defines fair value, establishes a framework for measuring fair value in generally accepted
accounting principles (GAAP), and expands disclosures about fair value measurements. This
statement is effective for financial statements issued for fiscal years beginning after
November 15, 2007. The Trustee does not believe that the adoption of this statement will
have a material effect on the Trusts financial statements.
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In February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial Assets
and Financial Liabilities-Including an amendment of FASB Statement No. 115. This statement
permits entities to choose to measure many financial instruments and certain other items at
fair value. This statement is effective as of the beginning of an entitys first fiscal
year that begins after November 15, 2007. The Trustee does not believe that the adoption of
this statement will have a material effect on the Trusts financial statements.2.
    
    FEDERAL INCOME TAXESFor Federal income tax purposes, the Trust constitutes a fixed investment trust which is
taxed as a grantor trust. A grantor trust is not subject to tax at the trust level. The
Unit holders are considered to own the Trusts income and principal as though no trust were
in existence. The income of the Trust is deemed to have been received or accrued by each
Unit holder at the time such income is received or accrued by the Trust and not when
distributed by the Trust.The Royalties constitute economic interests in oil and gas properties for Federal income
tax purposes. Unit holders must report their share of the revenues from the Royalties as
ordinary income from oil and gas royalties and are entitled to claim depletion with respect
to such income.The Trust has on file technical advice memoranda confirming the tax treatment described
above.The classification of the Trusts income for purposes of the passive loss rules may be
important to a Unit holder. Royalty income generally is treated as portfolio income and
does not offset passive losses.
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The Trustee assumes that some Trust Units are held by a middleman, as such term is broadly
defined in U.S. Treasury Regulations (and includes custodians, nominees, certain joint
owners, and brokers holding an interest for a custodian in street name). Therefore, the
Trustee considers the Trust to be a widely held fixed investment trust (WHFIT) for U.S.
federal income tax purposes. Bank of America, N.A., 901 Main Street, 17th Floor, Dallas,
Texas 75202, telephone number (214) 209-2400, is the representative of the Trust that will
provide tax information in accordance with applicable U.S. Treasury Regulations governing
the information reporting requirements of the Trust as a WHFIT.Unit holders should consult their tax advisors for further information.3.
    
    STATE TAX CONSIDERATIONSAll revenues from the Trust are from sources within Texas, which has no individual income
tax. However, the franchise tax currently imposed by the state of Texas on corporations
(the definition of which generally includes limited liability companies) is partly based on
federal taxable income, which will include income from the Trust.In May 2006, the State of Texas passed legislation to implement a new margin tax at a rate
of 1% to be imposed on gross revenues less certain deductions as specifically set forth in
the new legislation. The effective date of the new legislation is January 1, 2008, but the
tax generally will be imposed on gross revenues generated in 2007 and thereafter. Entities
subject to tax generally include trusts unless otherwise exempt and most other types of
entities. Trusts that meet certain statutory requirements are generally from the margin tax
as passive entities. Although the income of the Trust is passive as it consists primarily
of net overriding royalty interests (or net profits interests), there is no clear authority
that the Trust satisfies all the margin tax statutory requirements for the exemption for
passive entities to apply. Therefore, pending additional legislative action or the issuance
of applicable administrative rules promulgated by the Texas Comptroller, it is uncertain
whether the Trust would be exempt from the margin tax as a passive entity or subject to the
margin tax at the Trust level. Approximately 100% of the Trusts net profits interest
income is generated in Texas.If the Trust is exempt from the margin tax at the trust level as a passive entity, each Unit
holder that is a business entity subject to the margin tax would generally include its share
of the Trusts revenues in its margin tax computation. If, however, the margin tax is
imposed on the Trust at the trust level, each Unit holder would generally exclude its share
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of the Trusts revenues from its margin tax calculation. Each Unit holder that is a
business entity is urged to consult his own tax advisor regarding the requirements for
filing state income, franchise and margin tax returns.4.
    
    SUBSEQUENT EVENTSSubsequent to March 31, 2007, the Trust declared a distribution on April 20, 2007 of
$.088668 payable on May 14, 2007, to Unit holders of record on April 30, 2007.
 
 Item 2. Trustees Discussion and Analysis
 Forward Looking Information
  Three Months Ended March 31, 2007 Compared to Three Months Ended March 31, 2006
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First Quarter2007
    
    2006Production:Oil sales (Bbls)
    
    
    174,617
    
    
    
    205,912Gas sales (Mcf)
    
    
    769,291
    
    
    
    895,338Product Sales From Which The Royalties Were
Carved:Oil:Total oil sales (Bbls)
    
    
    296,785
    
    
    
    302,938Average per day (Bbls)
    
    
    3,226
    
    
    
    3,293Average price per Bbl
    
    $
    51.98
    
    
    $
    54.79Gas:Total gas sales (Mcf)
    
    
    1,503,430
    
    
    
    1,421,963Average per day (Mcf)
    
    
    16,342
    
    
    
    15,456Average price per Mcf
    
    $
    7.14
    
    
    $
    9.56
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Calculation of Royalty Income
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THREE MONTHS ENDED MARCH 31,2007
    
    
    2006WADDELL
    
    
    TEXAS
    
    
    WADDELL
    
    
    TEXASRANCH
    
    
    ROYALTY
    
    
    RANCH
    
    
    ROYALTYPROPERTIES
    
    
    PROPERTIES
    
    
    PROPERTIES
    
    
    PROPERTIESGross proceeds of sales from
the Underlying PropertiesOil proceeds
    
    $
    10,831,004
    
    
    $
    4,596,400
    
    
    $
    11,900,526
    
    
    $
    4,697,518Gas proceeds
    
    
    9,505,577
    
    
    
    1,225,083
    
    
    
    11,930,222
    
    
    
    1,666,686Total
    
    
    20,336,580
    
    
    
    5,821,483
    
    
    
    23,830,748
    
    
    
    6,364,204Less:Severance tax:Oil
    
    
    464,446
    
    
    
    169,919
    
    
    
    508,772
    
    
    
    187,339Gas
    
    
    600,633
    
    
    
    78,235
    
    
    
    726,302
    
    
    
    111,920Other
    
    
    
    
    
    
    159,926Lease operating expense and
property tax:Oil and gas
    
    
    4,052,346
    
    
    
    589,947
    
    
    
    3,695,189
    
    
    
    599,993Capital expenditures
    
    
    2,794,808
    
    
    
    
    
    
    
    598,857
    
    
    
    Total
    
    
    7,912,235
    
    
    
    998,026
    
    
    
    5,529,120
    
    
    
    899,252Net profits
    
    
    12,424,346
    
    
    
    4,823,457
    
    
    
    18,301,629
    
    
    
    5,464,953Net overriding royalty interests
    
    
    75
    %
    
    
    95
    %
    
    
    75
    %
    
    
    95
    %Royalty income
    
    $
    9,318,259
    
    
    $
    4,582,284
    
    
    $
    13,726,222
    
    
    $
    5,191,705
 Critical Accounting Policies and Estimates
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Basis of Accounting
  
    
    Royalty income and interest income are recorded in the period in which amounts are
received by the Trust rather than in the period of production and accrual, respectively.
    
    General and administrative expenses recorded are based on liabilities paid and cash
reserves established out of cash received.
    
    Amortization of the royalty interests is calculated on a unit-of-production basis and
charged directly to trust corpus when revenues are received.
    
    Distributions to Unit holders are recorded when declared by the Trustee (see Note 1 to
the Financial Statements).
  New Accounting Pronouncements
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Revenue Recognition
  Reserve Disclosure
  Contingencies
  19




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Use of Estimates
  
 Item 3. Qualitative and Quantitative Disclosures About Market Risk
  
 Item 4. Controls and Procedures
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PART II  OTHER INFORMATION
 
 Items 1 through 5.
  
 Item 6. Exhibits
 4.1
    
    Permian Basin Royalty Trust Indenture dated November 3, 1980,
between Southland Royalty Company (now Burlington Resources Oil & Gas Company
LP) and The First National Bank of Fort Worth (now Bank of America, N.A.), as
Trustee, heretofore filed as Exhibit (4)(a) to the Trusts Annual Report on
Form 10-K to the Securities and Exchange Commission for the fiscal year ended
December 31, 1980 is incorporated herein by reference.4.2
    
    Net Overriding Royalty Conveyance (Permian Basin Royalty Trust)
from Southland Royalty Company (now Burlington Resources Oil & Gas Company LP)
to The First National Bank of Fort Worth (now Bank of America, N.A.), as
Trustee, dated November 3, 1980 (without Schedules), heretofore filed as
Exhibit (4)(b) to the Trusts Annual Report on Form 10-K to the Securities and
Exchange Commission for the fiscal year ended December 31, 1980 is incorporated
herein by reference.4.3
    
    Net Overriding Royalty Conveyance (Permian Basin Royalty Trust
  Waddell Ranch) from Southland Royalty Company (now Burlington Resources Oil &
Gas Company LP) to The First National Bank of Fort Worth (now Bank of America,
N.A.), as Trustee, dated November 3, 1980 (without Schedules), heretofore filed
as Exhibit (4)(c) to the Trusts Annual Report on Form 10-K to the Securities
and Exchange Commission for the fiscal year ended December 31, 1980 is
incorporated herein by reference.10.1
    
    Registration Rights Agreement dated as of July 21, 2004 by and
between Burlington Resources Inc. and Bank of America, N.A., as trustee of
Permian Basin Royalty Trust, heretofore filed as Exhibit 10.1 to the Trusts
Quarterly Report on Form 10-Q to the Securities and Exchange Commission for the
quarterly period ended June 30, 2004 is incorporated
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herein by reference.10.2
    
    Underwriting Agreement dated December 15, 2005 among the
Permian Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources
Oil & Gas L.P. and Lehman Brothers Inc. and Wachovia Capital Markets, LLC as
representatives of the several underwriters, heretofore filed as Exhibit 10.1
to the Trusts current report on Form 8-K to the Securities and Exchange
Commission filed on December 19, 2005, is incorporated herein by reference.10.3
    
    Underwriting Agreement dated August 2, 2005 among the Permian
Basin Royalty Trust, Burlington Resources, Inc., Burlington Resources Oil & Gas
L.P. and Goldman Sachs & Co. and Lehman Brothers Inc. as representatives of the
several underwriters, heretofore filed as Exhibit 10.1 to the Trusts current
report on Form 8-K to the Securities and Exchange Commission filed on August 8,
2005, is incorporated herein by reference.10.4
    
    Underwriting Agreement dated August 17, 2006, among Permian
Basin Royalty Trust, ConocoPhillips, Burlington Resources Oil & Gas Company LP
and Lehman Brothers Inc. and Wachovia Capital Markets, LLC as representatives
of the several underwriters heretofore filed as Exhibit 10.1 to the Trusts
current report on Form 8-K to the Securities and Exchange Commission filed on
August 22, 2006, is incorporated herein by reference.31.1
    
    Certification by Ron E. Hooper, Senior Vice President and Trust
Administrator of Bank of America, Trustee of Permian Basin Royalty Trust, dated
May 9, 2007 and submitted pursuant to Rule 13a-14(a)/15d-14(a) and pursuant
to Section 302 of the Sarbanes-Oxley Act of 2002.32.1
    
    Certificate by Bank of America, Trustee of Permian Basin
Royalty Trust, dated May 9, 2007 and submitted pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350).
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SIGNATURES
  BANK OF AMERICA, N.A.,
TRUSTEE FOR THE
PERMIAN BASIN ROYALTY TRUSTBy:
    /s/ RON E. HOOPERRon E. Hooper,Senior Vice President and Trust Administrator
Bank of America, N.A.   23




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INDEX TO EXHIBITS
 ExhibitNumber
    
    Exhibit4.1
    
    Permian Basin Royalty Trust Indenture dated November 3, 1980,
between Southland Royalty Company (now Burlington Resources
Oil & Gas Company LP) and The First National Bank of Fort Worth
(now Bank of America, N.A.), as Trustee, heretofore filed as
Exhibit (4)(a) to the Trusts Annual Report on Form 10-K to the
Securities and Exchange Commission for the fiscal year ended
December 31, 1980 is incorporated herein by reference.*4.2
    
    Net Overriding Royalty Conveyance (Permian Basin Royalty Trust)
from Southland Royalty Company (now Burlington Resources Oil &
Gas Company LP) to The First National Bank of Fort Worth (now
Bank of America, N.A.), as Trustee, dated November 3, 1980
(without Schedules), heretofore filed as Exhibit (4)(b) to the
Trusts Annual Report on Form 10-K to the Securities and
Exchange Commission for the fiscal year ended December 31, 1980
is incorporated herein by reference.*4.3
    
    Net Overriding Royalty Conveyance (Permian Basin Royalty Trust
 Waddell Ranch) from Southland Royalty Company (now Burlington
Resources Oil & Gas Company LP) to The First National Bank of
Fort Worth (now Bank of America, N.A.), as Trustee, dated
November 3, 1980 (without Schedules), heretofore filed as
Exhibit (4)(c) to the Trusts Annual Report on Form 10-K to the
Securities and Exchange Commission for the fiscal year ended
December 31, 1980 is incorporated herein by reference.*10.1
    
    Registration Rights Agreement dated as of July 21, 2004 by and
between Burlington Resources Inc. and Bank of America, N.A., as
trustee of Permian Basin Royalty Trust, heretofore filed as
Exhibit 10.1 to the Trusts Quarterly Report on Form 10-Q to
the Securities and Exchange Commission for the quarterly period
ended June 30, 2004 is incorporated herein by reference.*10.2
    
    Underwriting Agreement dated December 15, 2005 among the
Permian Basin Royalty Trust, Burlington Resources, Inc.,
Burlington Resources Oil & Gas L.P. and Lehman Brothers Inc.
and Wachovia Capital Markets, LLC as representatives of the
several underwriters, heretofore filed as Exhibit 10.1 to
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ExhibitNumber
    
    Exhibitthe Trusts current report on Form 8-K to the Securities and
Exchange Commission filed on December 19, 2005, is incorporated
herein by reference.*10.3
    
    Underwriting Agreement dated August 2, 2005 among the Permian
Basin Royalty Trust, Burlington Resources, Inc., Burlington
Resources Oil & Gas L.P. and Goldman Sachs & Co. and Lehman
Brothers Inc. as representatives of the several underwriters,
heretofore filed as Exhibit 10.1 to the Trusts current report
on Form 8-K to the Securities and Exchange Commission filed on
August 8, 2005, is incorporated herein by reference.*10.4
    
    Underwriting Agreement dated August 17, 2006, among Permian
Basin Royalty Trust, ConocoPhillips, Burlington Resources Oil &
Gas Company LP and Lehman Brothers Inc. and Wachovia Capital
Markets, LLC as representatives of the several underwriters
heretofore filed as Exhibit 10.1 to the Trusts current report
on Form 8-K to the Securities and Exchange Commission filed on
August 22, 2006, is incorporated herein by reference.*31.1
    
    Certification by Ron E. Hooper, Senior Vice President and Trust
Administrator of Bank of America, Trustee of Permian Basin
Royalty Trust, dated May 9, 2007 and submitted pursuant to
Rule 13a-14(a)/15d-14(a) and pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.32.1
    
    Certificate by Bank of America, Trustee of Permian Basin
Royalty Trust, dated May 9, 2007 and submitted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C.
Section 1350).
 
 *
    
    A copy of this Exhibit is available to any Unit holder, at the actual cost of
reproduction, upon written request to the Trustee, Bank of America, N.A., 901
Main Street, Dallas, Texas 75202. 25