Press Release Details

HOLLY ENERGY PARTNERS THIRD QUARTER 2004 EARNINGS RELEASE AND CONFERENCE CALL

October 20, 2004
HOLLY ENERGY PARTNERS THIRD QUARTER 2004 EARNINGS RELEASE AND CONFERENCE CALL

HOLLY ENERGY PARTNERS THIRD QUARTER 2004 EARNINGS RELEASE AND CONFERENCE CALL

DALLAS, TX, October 20, 2004 – Holly Energy Partners, L.P. (NYSE: HEP) plans to announce results for the quarter ended September 30, 2004 on November 3, 2004. The company has scheduled a conference call on November 4, 2004 at 10:00AM EST to discuss financial results. Listeners may access this call by dialing (800) 858-5936. The ID# for this call is 1726547. Additionally, listeners may access the call through the Holly Energy Partners web site: www.hollyenergy.com . A link to the call will be posted at this website prior to November 4.

Holly Energy Partners own and operates refined product pipelines and terminals primarily in West Texas, New Mexico, Arizona and Utah. Holly Energy Partners also owns a 70% interest in Rio Grande Pipeline Company, a transporter of LPG’s from West Texas to Northern Mexico.

FOR FURTHER INFORMATION, Contact: Stephen J. McDonnell, Vice President and Chief Financial Officer M. Neale Hickerson, Vice President-Treasury & Investor Relations Holly Energy Partners 214-871-3555