A Second Leading Independent Proxy Advisory Firm Recommends San Juan Basin Royalty Trust Unit Holders VOTE AGAINST Southwest Bank's Proposals To Remove Compass Bank As Trustee

Compass Bank, as Trustee of the San Juan Basin Royalty Trust (NYSE:SJT) (the "Trust" or "San Juan"), today announced that Glass Lewis & Co. ("Glass Lewis"), a leading independent proxy advisory firm, has issued a report recommending that unit holders of the Trust VOTE AGAINST all of the proposals of Southwest Bank and Robert Lansford, senior business development officer for Southwest Bank (together, "Southwest"), at the special meeting of unit holders to be held on November 21, 2016.

Compass Bank had previously announced that another leading proxy advisory firm, Institutional Shareholder Services (ISS), had also recommended that unit holders of the Trust VOTE AGAINST Southwest's proposals.

Specifically, Glass Lewis and ISS both recommend that unit holders VOTE AGAINST Southwest's proposal to remove Compass Bank and VOTE AGAINST the election of Southwest as trustee of the Trust. Glass Lewis and ISS further recommend that unit holders vote using the Trust's BLUE proxy voting card and NOT VOTE Southwest's white proxy voting card.

Compass Bank issued the following statement:

We are very pleased that the two leading independent proxy advisory firms are unanimous in opposing Southwest's self-interested effort to take over as trustee of the Trust. We agree with Glass Lewis's conclusion that " Southwest's case should be viewed as an unambiguous non-starter ."

We also agree with their combined recommendation that unit holders of the Trust VOTE AGAINST all of Southwest's proposals. We strongly believe that Southwest's effort to remove Compass Bank and to elect itself as trustee is not in the best interests of the Trust or the unit holders.

Southwest points to no specific shortcomings in Compass Bank's performance as trustee over 10 years and fails to offer any substantive benefits to the Trust. It is clear that Southwest's costly and time-consuming campaign to elect itself trustee of the Trust would benefit Southwest, but in our view, the unit holders would receive no benefit from a change in trustee.

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