Holly Corporation to Conduct Capital Projects Webcast Presentation

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4/12/2006
DALLAS, TX – Holly Corporation (NYSE: HOC) today announced that it will conduct a webcast presentation on Thursday, April 20, 2006, at 10:00 AM EDT.

This call will address current capital projects at Holly’s refineries, planned capital projects, the current capital spending estimate for 2006 and beyond, and an estimation of Holly’s current mid-cycle EBITDA. The company will post a link to this webcast presentation on the Holly website prior to the presentation. This link will be posted on the Investors page on the website. Holly’s website address is: www.hollycorp.com In addition, the slides used in the presentation will be posted on the Holly website at the conclusion of the presentation.

For those who would like to access the link directly, the url address is:

http://invite.mshow.com/findshow.aspx?usertype=0&cobrand=100&shownumber=296237

For those who don’t have internet access, you may listen to the call by dialing (800) 858-5936. The ID# for this call is 7788644.

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 4, 2006.

Holly Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel and jet fuel. Holly operates through its subsidiaries a 75,000 barrels per day ('bpd') refinery located in Artesia, New Mexico and a 26,000 bpd refinery in Woods Cross, Utah. Holly also owns a 45% interest (including the general partner interest) in Holly Energy Partners, L.P.

The following is a “safe harbor” statement under the Private Securities Litigation Reform Act of 1995: The statements in this press release relating to matters that are not historical facts are forward-looking statements based on management’s belief and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company cannot give any assurances that these expectations will prove to be correct. The Company assumes no duty to publicly update or revise such statements, whether as a result of new information, future events or otherwise.

FOR FURTHER INFORMATION, Contact:
Stephen J. McDonnell, Vice President and Chief Financial Officer

M. Neale Hickerson, Vice President—Investor Relations

Holly Corporation
(214) 871-3555

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