Holly Energy Partners, L.P. Files 2011 Form 10-K DALLAS, TX, -- On February 24, 2012, Holly Energy Partners, L.P. (NYSE: HEP) (the “Partnership”) filed with the U.S. Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended December 31, 2011. The filing can be viewed through a link on the Partnership’s internet website at www.hollyenergy.com by selecting the heading “Investors” and then the subheading “SEC Filings”.

Upon written request, limited partners and bondholders may receive free of charge a hard copy of the Partnership’s Annual Report on Form 10-K (including complete audited financial statements). Requests should be communicated in writing to the Partnership’s Vice President, Investor Relations, at 2828 N. Harwood, Suite 1300, Dallas, Texas 75201.

Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product transportation and crude oil transportation, tankage and terminal services to the petroleum industry, including HollyFrontier Corporation, a subsidiary of which owns a 42% interest (including the general partner interest) in the Partnership. The Partnership owns and operates petroleum product and crude pipelines, tankage, terminals and loading facilities located in Arizona, Idaho, Kansas, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming. In addition, the Partnership owns a 25% interest in SLC Pipeline LLC, a transporter of crude oil in the Salt Lake City area.

FOR FURTHER INFORMATION, Contact:

M. Neale Hickerson, Vice President, Investor Relations,

Holly Energy Partners, L.P. 214/871-3555