Holly Energy Partners Second Quarter 2009 Earnings Release and Conference Webcast

Holly Energy Partners Second Quarter 2009 Earnings Release and Conference Webcast

DALLAS, TX – Holly Energy Partners, L.P. (NYSE: HEP) plans to announce results for the quarter ended June 30, 2009 on July 30, 2009, before the opening of trading on the NYSE. The partnership has scheduled a webcast conference call on July 30, 2009 at 4:00PM Eastern time to discuss financial results.

This webcast may be accessed at: http://www.videonewswire.com/event.asp?id=60440

An audio archive of this webcast will be available using the above noted link through August 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 41% 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