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Exhibit 99.1
NORTH EUROPEAN OIL ROYALTY TRUST
ANNOUNCES THE RESIGNATION OF
ROBERT J. CASTLE, TRUSTEE
RED BANK, N.J. November 3, 2000 -- The Trustees of North European
Oil Royalty Trust (NYSE-NET) announced today that with great regret they
have accepted the resignation of Robert J. Castle as Trustee of the Trust.
Due to a lingering illness Mr. Castle found himself unable to continue to
fulfill his role and duties as Trustee and tendered his resignation.
In accepting his resignation the Trustees acknowledged his long
service which began in 1965 as a director of North European Oil Company, the
Trust's predecessor, and continued through the establishment of the Trust in
1975 and finally ended in the Trust's 2000 fiscal year. John R. Van Kirk,
Managing Director of the Trust, stated that "his business acumen, wise
counsel and quiet humor will be missed by everyone involved with the Trust."
While the terms of the Trust Agreement specify only that "There
shall be not more than five individuals, ..., serving as Trustees...", the
Trustees have taken the first steps in their search for a replacement for
Mr. Castle, acknowledging the importance of ensuring the ongoing continuity
of the Trust.
For further information on this release contact -- John H. Van Kirk,
Managing Trustee or John R. Van Kirk, Managing Director, at (732) 741-4008.
