Biloxi Marsh Lands Corporation Announces First Quarter 2006 Un-Audited Results and Provides Update

Biloxi Marsh Lands Corporation (PINK SHEETS:BLMC) today
announced its un-audited results for the quarter ending March 31,
2006. Total revenue for the quarter was $8,351,820 compared to total
revenue of $7,393,877 for the same period of 2005. During the first
quarter of 2006 revenues from mineral royalties increased to
$8,093,436 from $6,679,470 for the same period of 2005. It should be
noted that this increase in royalty revenue was positively impacted by
two factors. The first being increased commodity prices. The second
being the Company's election to takes its natural gas "in kind" which
allowed us to realize income from four months of productions during
the first quarter instead of the normal three months of production
revenue per quarter. The second factor will be a one time occurrence.
Meanwhile, expenses for the first quarter of 2006 were $491,245
compared to expenses of $258,200 for the prior year's first quarter.
The increase in expenses was mainly due to our $150,000 charitable
contribution related to the establishment of the Biloxi Marsh Disaster
Relief Corporation, Hurricane Katrina related office expense and the
use of additional technical consultants to review and work the seismic
data. Net earnings were $5,346,737 or $1.94 per share for the first
quarter of 2006 compared to $4,487,411 or $1.63 for the same period of
2005.
   As noted in the foregoing paragraph, the Company has established
and funded the Biloxi Marsh Disaster Relief Corporation. The Biloxi
Marsh Disaster Relief Corporation has applied for IRS 501C3 status and
will operate under strict governance rules to ensure appropriate use
of all funds. The purpose of the Biloxi Marsh Disaster Relief
Corporation is to disburse monies and raise additional monies to aid
in the rebuilding of St. Bernard Parish, Louisiana which was
devastated by Hurricane Katrina. We invite all interested parties to
contribute. Please contact the Company for information.
   The Company reports its earnings on an income tax basis. Following
that reporting procedure the Company paid dividends of $7,230,373 in
2004, and $8,951,891 in 2005. This year we have already paid
$5,508,856. During 2006, we hope to equal or exceed the amount of
dividends paid during 2005.
   The Company has received the complete 3D data covering Phase I,
Phase II, Phase III of the seismic survey completed by The Meridian
Resources Resource and Exploration, LLC (TMR) over its property
extending one mile beyond our boundaries in every direction. We are
expecting to receive the final phase of the data on Monday, May 1,
2006. We are very excited about the acquisition of the seismic data
and the building of data inventory. We are actively using the seismic
to our strategic advantage.
   As of March 31, 2006 the combined gross daily production from 13
wells including those operated by TMR and Manti Jambi, Inc. was
approximately 40 mmcf with net daily production accruing to the
Company of approximately 4.2 mmcf.
   "We are pleased with our first quarter results, though we want all
of our investors to realize the results were positively affected by
one additional monthly royalty payment. In an effort to take advantage
of our large open acreage position combined with the 3D seismic data,
we have retained the services of a consulting geologist and two
geophysicists to review and reprocess the 3D data to determine if
there are any additional prospects within the boundaries of the data
in our possession. We are hopeful that this proactive approach to
managing all of our assets will increase shareholder value over time,"
commented William B. Rudolf, President and Chief Executive Officer.
   Please refer to our website www.biloximarshlandscorp.com for
investor information and historical press releases.

   Biloxi Marsh Lands Corporation owns approximately 90,000 acres of
marsh lands located in St. Bernard Parish, Louisiana. As the
landowner, it derives the vast majority of its revenue from oil and
gas exploration and production activities that take place on or near
the company's land. The company also derives minimal revenues from
surface rentals.

   This news release contains forward-looking statements regarding
oil and gas discoveries, oil and gas exploration, development and
production activities and reserves. Accuracy of the forward-looking
statements depends on assumptions about events that change over time
and is thus susceptible to periodic change based on actual experience
and new developments. The Company cautions readers that it assumes no
obligation to update or publicly release any revisions to the
forward-looking statements in this report. Important factors that
might cause future results to differ from these forward-looking
statements include: variations in the market prices of oil and natural
gas; drilling results; unanticipated fluctuations in flow rates of
producing wells; oil and natural gas reserves expectations; the
ability to satisfy future cash obligations and environmental costs;
and general exploration and development risks and hazards. Readers are
cautioned not to place undue reliance on forward-looking statements
made by or on behalf of the Company. Each such statement speaks only
as of the day it was made. The factors described above cannot be
controlled by the Company. When used in this report, the words
"believes," "estimates," "plans," "expects," "should," "hopeful,"
"outlook," and "anticipates" and similar expressions as they relate to
the Company or its management are intended to identify forward-looking
statements.
   The following "Statements of Assets, Liabilities and Stockholders'
Equity" and "Statement of Revenues and Expenses and Retained Earnings"
have been derived from an interim un-audited financial statement which
does not include the information and footnotes that are an integral
part of a complete financial statement.
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                    BILOXI MARSH LANDS CORPORATION
      Statements of Assets, Liabilities, and Stockholders' Equity
                        March 31, 2006 and 2005

                   Assets                         2006        2005
                                              ----------- -----------
Current assets:
 Cash and cash equivalents                   $ 1,677,164     644,980
                                              ----------- -----------
         Total current assets                  1,677,164     644,980
                                              ----------- -----------
Investments:
 Marketable debt and equity 
  securities - at cost                        19,494,812  13,901,250
 Land - at cost                                  234,939     234,939
                                              ----------- -----------
                                              19,729,751  14,136,189
                                              ----------- -----------
Property:
 Levees and office furniture and equipment
  (net of accumulated depreciation of 
  $190,731 ($168,553 at 2005)                         --         728
                                              ----------- -----------
         Total assets                        $21,406,915  14,781,897
                                              =========== ===========
    Liabilities and Stockholders' Equity
Current liabilities:
 Federal income taxes payable                $ 4,614,902   2,115,618
 State income taxes payable                      669,537     955,892
 Payroll taxes payable                             1,695       1,833
                                              ----------- -----------
         Total current liabilities             5,286,134   3,073,343
                                              ----------- -----------
Stockholders' equity:
 Common stock, par value $.001 - 20,000,000
  shares authorized, 2,851,196 shares 
  issued, 2,754,428 shares outstanding            47,520      47,520
 Retained earnings                            16,148,076  11,735,849
                                              ----------- -----------
                                              16,195,596  11,783,369
 Less cost of treasury stock - 96,768 shares     (74,815)    (74,815)
                                              ----------- -----------
                                              16,120,781  11,708,554
                                              ----------- -----------
         Total liabilities and 
          stockholders' equity               $21,406,915  14,781,897
                                              =========== ===========





                    BILOXI MARSH LANDS CORPORATION
       Statements of Revenues and Expenses and Retained Earnings
                 March 31, 2006 and Comparable Period


                                                  2006         2005
                                             ------------ ------------

Revenues:
Oil and Gas
Lease bonuses and delayed rentals            $         -  $    61,565
Pipeline right of ways                                 -      104,660
Royalties (net of production taxes)            8,093,436    6,679,470
                                             ------------ ------------

Total Oil and Gas                              8,093,436    6,845,695
                                             ------------ ------------

Other:
Dividends and interest                           258,384       29,419
Gain on sale of securities                             -      518,763
                                             ------------ ------------

Total Other revenues                             258,384      548,182
                                             ------------ ------------

Total Revenue                                  8,351,820    7,393,877
                                             ------------ ------------

Expenses

Total Expenses                                   491,245      258,200
                                             ------------ ------------

Net Income before provision for income taxes   7,860,575    7,135,677
                                             ------------ ------------

Income taxes
Provision for income taxes                     2,513,838    2,648,266
                                             ------------ ------------

Net Income                                     5,346,737    4,487,411

Retained Earnings-beginning of period         16,310,195   11,380,080
                                             ------------ ------------
                                              21,656,932   15,867,491
Dividends                                      5,508,856    4,131,642
                                             ------------ ------------
Retained earnings-end of year                $16,148,076  $11,735,849
                                             ------------ ------------
Per Share                                    $      1.94  $      1.63
                                             ============ ============
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