Mesabi Trust Declares Distribution of $0.05 per Unit

The Trustees of Mesabi Trust

declared a distribution of five cents ($0.05) per Unit of Beneficial Interest payable on May 20, 2011 to Mesabi Trust unitholders of record at the close of business on April 30, 2011. This compares to a distribution of twelve and one-half cents ($0.125) per Unit for the same period last year.