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BP Prudhoe Bay Royalty Trust Announces Planned Increase in Existing Cash Reserve

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BP Prudhoe Bay Royalty Trust (NYSE:BPT) today announced that its
trustee, The Bank of New York Mellon Trust Company, N.A. (the
"Trustee"), has determined to gradually increase the Trustee's existing
cash reserve for the payment of future expenses and liabilities of the
Trust, as permitted by the trust agreement.

Commencing with the distribution to unitholders payable in January,
2019, the Trustee intends to begin withholding the greater of $33,750 or
0.17% of the funds otherwise available for distribution each quarter to
gradually increase existing cash reserves by a total of approximately
$270,000. The Trustee may increase or decrease the targeted amount at
any time, and may increase or decrease the rate at which it is
withholding funds to build the cash reserve at any time, without advance
notice to the unitholders. Cash held in reserve will be invested as
required by the trust agreement. Any cash reserved in excess of the
amount necessary to pay or provide for the payment of future known,
anticipated or contingent expenses or liabilities eventually will be
distributed to unitholders, together with interest earned on the funds.

This press release contains statements that are "forward-looking
statements" within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended. All statements contained in this press release,
other than statements of historical fact, are "forward-looking
statements" for purposes of these provisions. These forward-looking
statements include statements regarding the Trustee's planned
withholding of funds to increase cash reserves for future known,
anticipated or contingent expenses or liabilities of the Trust.
Important factors that could cause actual results to differ materially
include changes to commodity prices and changes to future known,
anticipated or contingent expenses or liabilities of the Trust.
Statements made in this press release are qualified by the cautionary
statements made in this press release. Neither the Trust nor the
Trustee intends, and neither assumes any obligation, to update any of
the statements included in this press release. An investment in units
issued by the Trust is subject to the risks described in the Trust's
Annual Report on Form 10-K for the year ended December 31, 2017, the
Trust's subsequent Quarterly Reports on Form 10-Q, and all of the
Trust's other filings with the SEC. The Trust's annual, quarterly and
other filed reports are or will be available over the Internet at the
SEC's website at http://www.sec.gov.

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