Each episode of "Web Junk 20 " is available on-demand on VSPOT
(http://vspot. VH1 also has an array of digital services including VH1 Classic, VH1
Soul, VH Uno and VH1 Country. The
Royalty Properties are the only assets of the Trust, other than cash being
held for the payment of expenses and liabilities and for distribution to the
unitholders. The Trust Agreement prohibits
the Trustee from engaging in any business, commercial or, with certain
exceptions, investment activity of any kind and from using any portion of the
assets of the Trust to acquire any oil and gas lease, royalty or other mineral
interest other than the Royalty Properties.28 per Mcf of gas at January 1, 2004
to $5.

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6 among the key
18-49 demo -- a 50% increase over the series' first two episode premieres,
making it the highest rated VH1 show of the day.com, and provides viewers with
the ability to upload clips for consideration in future episodes of
"Web Junk 20"., the Trustee of the
Trust have participated in the preparation of the proxy solicitation
materials, negotiated the terms of the proposals or made a recommendation for
or against the proposals, the Trustee has received a number of questions
regarding the proxy solicitation materials and the current structure and
operations of the Trust." A properly executed proxy card that does not contain
voting instructions will be voted "FOR" the proposal.45 per barrel , used to calculate the worth
of future net revenue of the Trust's proved developed reserves, would result
in a larger standardized measure of discounted future net cash flows for oil.

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User-Submitted Content: Since "Web Junk 20" first aired, IFILM, VH1's "Web
Junk 20" partner has experienced a 60 percent increased in user-submitted
videos on http://www.com.S.
If a proxy card is submitted, such unitholder should vote either "FOR,"
"AGAINST," or "ABSTAIN.
Once a meeting is called, a unitholder may revoke a proxy at any time
before it is voted at the meeting by filing with SPP's General Partner a duly
executed revocation of proxy, by submitting a duly executed proxy with a later
date or by appearing at the meeting and voting in person.A.
In May 1983, the Internal Revenue Service ruled that the Trust would be
classified as a grantor trust for federal income tax purposes and not as an
association taxable as a corporation. Accordingly , the income and deductions
of the Trust are reportable directly by unitholders for federal income tax
purposes. Reserve estimates may
be adjusted from time to time as more accurate information on the volume or
recoverability of existing reserves becomes available.

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Your options concerning the proxy voting card
The proxy card accompanying SPP's proxy solicitation materials serves two
functions. The Trust
Agreement may be amended by the affirmative vote of a majority of the
outstanding units at any duly called meeting of unitholders.
The Trust can be terminated by the unitholders only if the termination is
approved by the holders of a majority of the outstanding units.

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VSPOT: Streams from VSPOT, VH1's broadband network almost quadrupled from
the first to the second week and grew 6-fold, week-over-week in its third
week.
Despite the similarity of the name of Sabine Production Partners, LP
("SPP"), it is not an entity that is affiliated with Sabine Royalty Trust
("SRT" or the "Trust"). (as
successor to NationsBank, N. Since Pacific Enterprises Oil
Company (USA) ("Pacific USA") (as successor to Sabine Corporation) has
retained the executive rights with respect to the minerals included in the
Royalty Properties and the right to receive any future bonus payments or delay
rentals resulting from leases with respect to such minerals, the Trustee is
not required to make any operating decision with respect to the Royalty
Properties.

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In addition , 914,000
total viewers (P 2+) tuned in to that episode. Connect with VH1 at http://www.
If a unitholder has submitted a proxy card and wishes to revoke such
proxy, the unitholder may revoke the authorization to call the meeting by
submitting a written notice to SPP's General Partner stating his or her
intention to revoke before the meeting demand is sent to the Trustee. ("InterFirst "), as
trustee. The current trustee of the Trust is Bank of America, N. The Trustee
expects to obtain from DeGolyer and MacNaughton a study of the proved oil and
gas reserves attributable as of January 1, 2006 which reserve data will be
published in the Trust's annual report for the year ended December 31, 2005
when such report is filed with the Securities and Exchange Commission.

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"Web Junk 20", hosted by comic Patrice O'Neal airs every Friday night at
11:30 PM (EST) on VH1.
Attendance at the meeting without voting will not itself revoke a proxy.
We encourage each unitholder to closely read SPP's prospectus/proxy
statement and seek appropriate counsel on such unitholder's decision as to
whether the proposal is a sound one for such unitholder. The Royalty Properties
are operated by almost all the major energy companies such as ExxonMobil,
ChevronTexaco, Shell, BPAmoco and various others who as operators and working
interests owners have a much greater economic incentive to maximize production
and exploration of the properties, but with the Trust's interests benefiting
from their efforts in production , revenues and extension of reserves.
The sale of all or any part of the assets of the Trust must be authorized by
the affirmative vote of the holders of a majority of the outstanding units.
Meetings of unitholders may be called by the Trustee at any time at its
discretion and must be called by the Trustee at the written request of holders
of not less than 10 percent of the then outstanding units. Notice of any meeting of
unitholders must be given not more than 60 nor less than 20 days prior to the
date of such meeting.25 per million
British thermal units.sec.

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com.sec. A proxy card not submitted
cannot be counted as a vote "FOR" the proposal.A.
Approximately 2,950 of the tracts are in Oklahoma, 1,750 in Texas, 330 in
Louisiana, 200 in New Mexico, 150 in Mississippi and 12 in Florida. In
addition, certain special voting requirements can be amended only if such
amendment is approved by the holders of at least 80 percent of the outstanding
units and by the Trustee. The presence of a
majority of the outstanding units is necessary to constitute a quorum and
unitholders may vote in person or by proxy. This increase resulted primarily from the gas prices used in
the calculation of such amount, from $5. The use of such price, as compared to the posted price
of $6.

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Sale of SRT units prior to the record date will render any previously
granted proxy ineffective; however, the proxy may still be used for purposes
of aggregating enough units to call a meeting.

The method or combination of
methods used in the analysis of each reservoir was tempered by experience with
similar reservoirs, consideration of the stage of development, and the quality
and completeness of basic data.

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The Trust will exist until it is
terminated by (i) two successive fiscal years in which the Trust's gross
revenues from the Royalty Properties are less than $2,000,000 per year, (ii) a
vote of unitholders as described in "Voting Rights of Unitholders" or (iii)
operation of provisions of the Trust Agreement intended to permit compliance
by the Trust with the "rule against perpetuities." Upon the termination of
the Trust, the Trustee will continue to act in such capacity until all the
assets of the Trust are distributed. There
are many uncertainties inherent in estimating quantities and values of proved
reserves and in projecting future rates of production.
Subsequent to year end, the price of both oil and gas continued to
fluctuate, giving rise to a correlating adjustment of the respective
standardized measure of discounted future net cash flows.18 per million British thermal units, used to calculate the future net
revenue to the Trust's proved developed reserves would result in a larger
standardized measure of discounted future net cash flows for gas.

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In addition, VH1 scored its most watched January ever, averaging 701,000
total viewers in primetime throughout the month.
To learn more about "Web Junk 20" visit http://www. First, it seeks to aggregate enough units to call a meeting of the
Trust's unitholders, and second, it serves to grant a proxy to representatives
of SPP with respect to the matters to be voted on at a meeting, if one is
called. The basic
function of the Trustee is to collect income from the Trust properties, to pay
out of the Trust's income and assets all expenses, charges and obligations,
and to pay available income to unitholders. Any sale of Trust properties must
be for cash unless otherwise authorized by the unitholders or unless the
properties are being sold to provide for the payment of specific liabilities
of the Trust then due, and the Trustee is obligated to distribute the
available net proceeds of any such sale to the unitholders.

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It is a production of VH1; Executive Produced by
Richard Hankey, Shelly Tatro and Michael Hirschorn.

VH1 connects viewers to the music, artists and pop culture that matter to
them most with series, specials, live events, exclusive online content and
public affairs initiatives . VH1 is available in over 87 million households in
the U.

Contacts:
Erica Cantwell /VH1 Luis Defrank/VH1
212/846-3683 212/846-7012

* Nielsen Media Research, 1/27/2005

) ("Bank of America" or the "Trustee"). Historical records of net production and revenue and experience
with similar properties were used in evaluating these properties .66 per Mcf of gas at January 1, 2005, as well as an increase in the
price of oil from $29.A. Sabine Production Partners, LP
has also indicated that free copies of the Proxy Statement/Prospectus may be
obtained from Sabine Production Partners, LP by directing a request by
telephone to (800) 519 -4866 or by mail to Sabine Production Partners, LP,
512 Main Street, Suite 1200, Fort Worth, Texas 76102 or by mail from its
solicitation agent, Georgeson Shareholder Communications Inc.

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The Trust
has royalty interest in approximately 2,092,292 gross acres and 216,551 net
acres.
The Monthly Income Amount is the excess of (i) revenues from the Trust
properties plus any decrease in cash reserves previously established for
contingent liabilities and any other cash receipts of the Trust over (ii) the
expenses and payments of liabilities of the Trust plus any increase in cash
reserves for contingent liabilities.
Because the only assets of the Trust are the Royalty Properties, the Trustee
believes the reserve study provides useful information for unitholders. The Trust owns several thousand royalty
interests. Proved reserves
classifications used in this report are in accordance with the reserves
definitions of Rules 4-10(a) (1)-(13) of Regulation S-X of the Securities and
Exchange Commission (SEC) of the United States.

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Although neither the Trust nor Bank of America, N.

Assets of the Trust
On November 12, 1982, the shareholders of Sabine Corporation approved and
authorized Sabine Corporation's transfer of royalty and mineral interests,
including landowner 's royalties, overriding royalty interests, minerals (other
than executive rights, bonuses and delay rentals), production payments and any
other similar, nonparticipatory interests, in certain producing and proved
undeveloped oil and gas properties located in Florida, Louisiana, Mississippi,
New Mexico, Oklahoma and Texas (the "Royalty Properties") to the Trust.
These properties are represented by approximately 5,400 tracts of land.
Removal of the Trustee requires the affirmative vote of the holders of a
majority of the units represented at a duly called meeting of unitholders.

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On-Air Ratings, VSPOT Streams, User-Submitted Videos, and Mobile Downloads
Gain Significant Momentum

VH1 Scores Its Most Watched January Ever

NEW YORK, In its third week, "Web VH1's
new weekly countdown of the hottest viral videos on the internet -- is
reaching viewers across multiple platforms at increasing rates.vh1.IFILM. However, no such
amendment may alter the relative rights of unitholders unless approved by the
affirmative vote of 100 percent of the unitholders and by the Trustee.
Unitholders of record as of the Monthly Record Date (the 15th day of each
calendar month except in limited circumstances) are entitled to have
distributed to them the calculated Monthly Income Amount for the related
monthly period no later than 10 business days after the Monthly Record Date. In addition, the
reserve estimates for the Royalty Properties will be affected by future
changes in sales prices for oil and gas produced .76 per barrel of oil at January 1, 2004 to $39.

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com.
Unitholders may revoke a proxy by any of these methods, regardless of the
method used to deliver a unitholder's previous proxy. This represents payments from approximately
500 separate operators/purchasers on a monthly basis.

Voting Rights of Unitholders
Although unitholders possess certain voting rights, their voting rights
are not comparable to those of shareholders of a corporation.

Duties and Limited Powers of Trustee
The duties of the Trustee are specified in the Trust Agreement.
These reserves estimates are based on a detailed study of the properties
and were prepared by the use of standard geological and engineering methods
generally accepted by the petroleum industry.
Petroleum reserves included in this report are classified by degree of
proof as proved and are judged to be economically producible in future years
from known reservoirs under existing economic and operating conditions and
assuming continuation of current regulatory practices using conventional
production methods and equipment. The Trust
continues to own only the Royalty Properties that were initially transferred
to the Trust at the time of its creation and is prohibited by the Trust
Agreement from acquiring additional oil and gas interests.

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Additionally,
"Web Junk 20" was the #1 or #2 ranked VH1 content on Verizon Wireless'
V CAST 4 days last week.vh1. The solicitation received by unitholders concerns an initiative
created by Sabine Production Partners, LP.gov in order to more fully
understand the current structure and operations of the Trust as well as SPP's
proposals .
If a unitholder does wish to assist in SPP's efforts to call a meeting,
return the proxy card and vote "FOR," "AGAINST," or "ABSTAIN" on the proposals
described on the proxy card.
At this time a meeting has not been called for, and there is not an
anticipated date for a meeting , if one is called.

Duration of Trust
The Trust is irrevocable and Pacific (USA) has no power to terminate the
Trust or, except with respect to certain corrective amendments, to alter or
amend the terms of the Trust Agreement. The preceding reserve data regarding the study represent
estimates only and should not be construed to be exact.14 per
barrel of oil at January 1, 2005 .

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ifilm. In addition to
providing research on the show, IFILM makes each clip in its entirety
available on its Web site at http://www. There is no taxation of the income at the Trust level. The notice must state the purposes of the meeting and
no other matter may be presented or acted upon at the meeting . Under the existing Trust Agreement, the
Trustee will sell all Trust properties for cash (unless the unitholders
authorize the sale for a specified non-cash consideration, in which event the
Trustee may, but is not obligated to, consummate such non-cash sale) in one or
more sales and, after satisfying all existing liabilities and establishing
adequate reserves for the payment of contingent liabilities , will distribute
all available proceeds to the unitholders.14 per barrel, which
compared to the posted price of $43.
The volatile nature of the world energy markets makes it difficult to
estimate future prices of oil and gas.

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DALLAS, Sabine Royalty Trust (NYSE: SBR)
today mailed to unitholders of Sabine Royalty Trust as of December 12, 2005,
the following letter:

January 24, 2006

To Unitholders of Sabine Royalty Trust:

On January 4, 2006, proxy solicitation materials were mailed to
unitholders of record and unitholders who hold the units through brokerage
accounts. Royalty
Interests owners have very limited rights as to the operations of wells.
Estimated net proved reserves, for the last ten years, attributable to the
Trust from the properties appraised are summarized in thousands of barrels
(Mbbl) or millions of cubic feet (MMcf) as follows:

YEAR Proved Reserves
Oil(Mbbl) Gas(MMcf)
1995 5,538 36,449
1996 5,975 33,700
1997 6,183 34,365
1998 6,206 39,054
1999 5,751 36,792
2000 5,552 38,476
2001 5,430 37,489
2002 5,085 36,332
2003 5,484 36,949
2004 5,685 37,609

There are numerous uncertainties inherent in estimating quantities of
proved reserves and in projecting the future rates of production and timing of
development .

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Reserves
The Trust has obtained from DeGolyer and MacNaughton, independent
petroleum engineering consultants, a study of the proved oil and gas reserves
attributable as of January 1 , 2005 to the Royalty Properties.
As of January 03, 2006, the NYMEX posted gas price was $11.

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com ) after airing on VH1 every Friday night.VH1.
In the proposals SPP sets forth in its proxy solicitation , SPP seeks to
gain control of the assets of Sabine Royalty Trust by liquidating the Trust in
a manner whereby the assets of the Trust are sold to SPP in exchange for
partnership interests in SPP that would be distributed to unitholders of the
Trust upon its liquidation.A.

DESCRIPTION OF THE TRUST
The Trust is an express trust formed under the laws of the State of Texas
by the Sabine Corporation Royalty Trust Agreement (the "Trust Agreement") made
and entered into effective as of December 31, 1982, between Sabine
Corporation, as trustor, and InterFirst Bank Dallas, N. Actual reserve
quantities do not change, however, except through production.

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There are currently approximately over 17,000 wells currently being
accounted for by the Trustee. In the analyses of production-decline
curves, reserves were estimated only to the limit of economic rates of
production under existing economic and operating conditions using prices and
expenses as of the date the estimate is made, including consideration of
changes in existing prices provided only by contractual arrangements but not
including escalations based upon future conditions.
The present value of future net revenue of the Trust's proved developed
reserves increased from $168 ,807,194 at January 1, 2004 to $194,229,373 at
January 1, 2005.

Very truly yours,

Ron E.

Unitholders are urged to read carefully in their entirety the Trust's
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports
on Form 8-K and other reports filed by the Trust with the Securities and
Exchange Commission as well as the Registration Statement and the Proxy
Statement/Prospectus filed by Sabine Production Partners, LP with the
Securities and Exchange Commission because they contain important information
about the Trust and about Sabine Production Partners, LP, the proposed
transaction, the persons soliciting proxies relating to the proposed
transaction, their interests in the transaction and related matters.

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This letter attempts to answer some of these
questions; however, the Trustee encourages unitholders to fully read the
Trust's annual reports on Form 10-K, quarterly reports on Form 10-Q, current
reports on Form 8 -K and other reports and filings made with the Securities and
Exchange Commission, as well as SPP 's prospectus/proxy statement and other
reports and filings made with the Securities and Exchange Commission, all of
which are available free of charge at http://www. As of January 03,
2006, the NYMEX posted oil price was approximately $63.
Unitholders can obtain free copies of these documents through the website
maintained by the SEC at http://www.

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VH1 Mobile: "Web Junk 20" accounted for over 25 percent of the total VH1
content requested on Verizon Wireless' V CAST last week .

Sabine Royalty Trust Advises Unitholders on Proxy Vote

The Trust Agreement grants the Trustee only such rights and powers as are
necessary to achieve the purposes of the Trust. Sabine Production Partners, LP is not
affiliated with the Trust.

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"Web Junk 20's" Multiplatform Highlights Include:

On-air Ratings: According to Nielsen Media Research*, the third premiere
episode of "Web Junk 20" on Friday, January 27 scored a .
If a unitholder does not wish to assist in SPP's efforts to call a
meeting, simply do not return the proxy card.
If a unitholder executes and returns its proxy card, it will be counted
for purposes of calling a meeting, irrespective of the manner in which a
unitholder votes its units.A. The prices obtained for oil and gas
depend upon numerous factors, none of which is within the Trustee's control,
including the domestic and foreign supply of oil and gas and the price of
foreign imports, market demand, the price and availability of alternative
fuels, the availability of pipeline capacity, instability in oil-producing
regions and the effect of governmental regulations. Hooper,
Senior Vice President and Administrator ,
Bank of America, N.gov ., 17th State
Street, New York, New York, 10004, or by telephone to (866) 729-6808 (banks
and brokers may call (212) 440-9800).