Holly Energy Partners Fourth Quarter 2011 Earnings Release and Conference Webcast DALLAS, TX – Holly Energy Partners, L.P. (NYSE: HEP) plans to announce results for the quarter ended December 31, 2011 on February 16, 2012, before the opening of trading on the NYSE. The partnership has scheduled a webcast conference on February 16, 2012 at 4:00PM Eastern time to discuss financial results.

This webcast may be accessed at: http://www.videonewswire.com/event.asp?id=84788

An audio archive of this webcast will be available using the above noted link through February 29, 2012.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product transportation and terminal services to the petroleum industry, including HollyFrontier Corporation, which currently owns a 42% interest in the Partnership. The Partnership owns and operates product pipelines and terminals primarily in Texas, New Mexico, Oklahoma, Arizona, Washington, Kansas, Wyoming, Idaho and Utah.

FOR FURTHER INFORMATION, Contact:

M. Neale Hickerson, Vice President-Investor Relations

Holly Energy Partners 214-871-3555