LL&E Royalty Trust (LRT) Receives Additional Notice from NYSE Regarding Noncompliance

October 5, 2009 3:40 PM EDT

LL&E Royalty Trust (NYSE: LRT) announced today that it has received an additional notice from The New York Stock Exchange stating that the Trust has until November 16, 2009 to cure the average closing price noncompliance and that, if the Trust fails to do so, the NYSE would have to initiate suspension and delisting procedures.

As previously announced, the NYSE had previously notified the Trust that the Trust had fallen below the NYSE's continued listing standard relating to the average closing price of the Trust's securities and that, as such, the Trust was subject to the procedures outlined in sections 801 and 802 of the NYSE Listed Company Manual. Rule 802.01C of the NYSE Listed Company Manual requires that the securities have a minimum average closing price of not less than $1.00 during a consecutive 30 trading-day period.

During 2006 and 2007 the Trust's net revenues were below the minimum amounts required by the Trust's governing documents for the continuation of the Trust. Consequently, in accordance with its governing documents, the Trust terminated effective December 31, 2007 and will sell its assets. However, as announced by the Trustee on October 22, 2008, the Trustee determined that, in light of market conditions, it was in the best interests of the Unitholders to postpone the sale of the Trust's assets. The Trustee reviews market conditions frequently, and intends to recommence the marketing process as soon as practicable.

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