Written by Grant-Lee Phillips and produced by Paul Fox, the single peaked at number 11 on the Billboard Modern Rock Tracks chart.

According to Grant Lee Buffalo drummer Joey Peters, he and Grant-Lee Phillips began work on "Truly, Truly" in 1996 while touring with The Smashing Pumpkins.

Phillips added, "The guitar part was played straight through, but we recorded all the amps on separate tracks, giving us up to four very distinct sounds to manipulate during the mix.

The song features on a promotional four-track extended play (EP) titled Yours Truly which Warner Bros. Records sent to commercial and college radio and press.

A three-track cassette tape featuring "Truly, Truly" was made available during a club tour prior to the album release.