-5-

Exhibit 99.1.

              NORTH EUROPEAN OIL ROYALTY TRUST ANNOUNCES
       TERMS OF PROPOSED JOINT PETITION IN SETTLEMENT OF SUIT 
                     BY DELAWARE STATE ESCHEATOR

     RED BANK, NEW JERSEY  -- December 7, 1995 -- The Trustees of North
European Oil Royalty Trust (NYSE - NET) disclosed today that they have reached
agreement with the Delaware State Escheator on settlement of previously
disclosed litigation commenced in 1986 by the Escheator in the Delaware Court
of Chancery.  The proposed settlement terms are incorporated in a joint
petition to be submitted today by the Trustees and the Delaware Attorney
General representing the Escheator to the Delaware Court of Chancery for its
approval.  The effectiveness of the proposed settlement is subject to approval
by the Court after an opportunity for public hearing.  The submission and
approval process is expected to take approximately six months.

     Under the settlement, 760,560 units in the Trust will be issued to the
Escheator in three installments.  These authorized but unissued units reflect
the unexchanged shares of the predecessor corporations to the Trust which are
registered in the names of unknown owners, unlocated owners with a Delaware or
non-U.S. address of record  and brokerage firms or other nominees with
insufficient records to establish beneficial ownership. 
One-half of the units will be issued upon approval of the settlement.  Subject
to reductions for intervening claims, an additional 50% of the remaining units
will be issued in the year 2000 and the remainder in the year 2005.  Units so
issued will be entitled to regular quarterly payment of distributions by the
Trust, thus increasing the number of outstanding units to which such
distributions are made from the current number of 8,313,984 to 8,694,264 upon
approval of the settlement, with additional increases in the years 2000 and
2005.

     Under the terms of the settlement, the Trust would not be required to
make payments of arrearage of Company dividends or Trust distributions to the
Escheator with respect to the units issued.  Claims received prior to the year
2005 from previously unlocated owners would be paid jointly by the Escheator
and the Trust under a formula provided in the settlement, with claimant owners
entitled to receive both units and arrears payments.  Pursuant to the proposed
court order, no claims for arrears of dividends or distributions could be made
after the final distribution in the year 2005.  The Court of Chancery is
expected to appoint a solicitor ad litem for the interests of the unlocated
stockholders, whose rights would be subject to the provisions of an order
requested.

     "Settlement of this claim will eliminate the contingency of the possible
need at any time in the future for large lump sum payments to the Escheator,"
said John R. Van Kirk, Managing Director of the Trust. 

     To illustrate the possible impact on the current unit owners, if the
first stage of the proposed settlement had been in place at the start of the
1995 fiscal year just ended, actual distributions to unit owners of $1.43
would have been reduced by 6 cents to $1.37 per unit as a result of the 4.57%
dilution.  This dilution, in turn, would have reduced the increase in
distributions from the prior year to 36% instead of the 41% increase
previously reported.  

     Trust units of beneficial interest are traded on the New York Stock
Exchange under the symbol NET.  For further information, contact John R. Van
Kirk, Managing Director at (908) 741-4008.