Press Release Details

Holly Energy Partners Third Quarter 2008 Earnings Release and Conference Call (original release 10/07/2008)

October 15, 2008
Holly Energy Partners Third Quarter 2008 Earnings Release and Conference Call (original release 10/07/2008) DALLAS, TX – Holly Energy Partners, L.P. (NYSE: HEP) plans to announce results for the quarter ended September 30, 2008 on October 28, 2008, before the opening of trading on the NYSE. The partnership has scheduled a conference call on October 28, 2008 at 4:00PM EDT to discuss financial results. Listeners may access this call by dialing (888) 548-4639. The ID# for this call is 68067504. For those who would like to listen to this call via the internet, you may access the call at:http://www.videonewswire.com/event.asp?id=52110

Additionally, listeners may replay this call approximately two hours after the call concludes by dialing (800) 642-1687. This audio archive will be available through November 11, 2008.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product transportation and terminal services to the petroleum industry, including Holly Corporation, which owns a 46% interest in the Partnership. The Partnership owns and operates product pipelines and terminals primarily in Texas, New Mexico, Oklahoma, Arizona, Washington, Idaho and Utah. In addition, the Partnership owns a 70% interest in Rio Grande Pipeline Company, a transporter of LPGs from West Texas to Northern Mexico.

FOR FURTHER INFORMATION, Contact:

Bruce Shaw, Senior Vice President and Chief Financial Officer

M. Neale Hickerson, Vice President-Investor Relations

Holly Energy Partners 214-871-3555