On December 3, 2008, U.S. Bank National Association, as trustee of the Kiewit Royalty Trust in accordance with the Kiewit Royalty Trust Indenture dated May 17, 1982, as amended, dismissed KPMG LLP, as the Trust's independent accountant. The Trust is administered by officers and employees of the Trustee and has no board of directors or audit committee.

On 11/17/2008, Kiewit Royalty Trust announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Kiewit Royalty Trust announced that Susan K. Rosburg ceased to perform the function of chief executive officer and chief financial officer of the Trust and Luke H. Paladino was appointed to perform the functions of chief executive officer and chief financial officer of the Trust, effective January 16, 2008. Mr. Paladino has served as an officer of U.S. Bank National Association since January 9, 2008 and as Trust Officer of U.S. Bank National Association, Private Client Group, since September 2007. From May 2005 until September 2007, Mr. Paladino was Principal of Paladino Legal Group, P.C. L.LO., a law firm in Omaha, Nebraska, where he practiced estate planning, corporate and real estate law. Prior to that, Mr. Paladino was a Law Clerk at Pickens, Green & Gleason LLP, an Omaha law firm, from July 2002 to May 2004.