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07/16/2012

Holly Energy Partners Second Quarter 2012 Earnings Release and Conference Webcast

DALLAS, TX, July 16, 2012 – Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) plans to announce results for its quarter ended June 30, 2012 on July 31, 2012, before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on July 31, 2012 at 4:00PM Eastern time to discuss financial results.

This webcast may be accessed at: https://event.webcasts.com/starthere.jsp?ei=1007359

An audio archive of this webcast will be available using the above noted link through August 14, 2012.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, tankage and terminal services to the petroleum industry, including HollyFrontier Corporation, which currently owns a 44% interest (including a 2% general partner interest), in the Partnership. The Partnership owns and operates petroleum product and crude pipelines, tankage, terminals and loading facilities located in Texas, New Mexico, Oklahoma, Arizona, Washington, Kansas, Wyoming, Idaho and Utah. In addition, the Partnership owns a 25% interest in SLC Pipeline LLC, a transporter of crude oil in the Salt Lake City area, and a 75% interest in UNEV Pipeline, LLC, the owner of a Holly Energy operated refined products pipeline running from Utah to Las Vegas, Nevada and related products terminals.

FOR FURTHER INFORMATION, Contact M. Neale Hickerson / Julia Heidenreich Holly Energy Partners, Investor Relations 214-871-3555

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