Holly Energy Partners First Quarter 2009 Earnings Release and Conference Call DALLAS, TX – Holly Energy Partners, L.P. (NYSE: HEP) plans to announce results for the quarter ended March 31, 2009 on April 29 2009, before the opening of trading on the NYSE. The partnership has scheduled a conference call on April 29, 2009 at 4:00 PM Eastern time to discuss financial results. Listeners may access this call by dialing (888) 548-4639. The ID# for this call is 94667218. 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=57732.

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 May 13, 2009.

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