Holly Corporation Second Quarter 2008 Earnings Release and Conference Call

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7/10/2008
DALLAS, TX – Holly Corporation (NYSE: HOC) plans to announce results for the quarter ended June 30, 2008 on August 6, 2008, before the opening of trading on the NYSE. The company has scheduled a conference call on August 6, 2008 at 10:00AM EDT to discuss financial results. Listeners may access this call by dialing (888) 548-4639. The ID# for this call is 55825559. 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=49932

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 August 20, 2008.

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 an 85,000 barrels per day (“bpd”) refinery located in Artesia, New Mexico, and a 26,000 bpd refinery in Woods Cross, Utah. Holly also owns a 46% interest (including the general partner interest) in Holly Energy Partners, L.P. (NYSE “HEP”), which through subsidiaries owns or leases approximately 2,500 miles of petroleum pipelines in Texas, New Mexico and Oklahoma and petroleum product terminals in several Southwest and Rocky Mountain states.

FOR FURTHER INFORMATION, Contact:

Bruce Shaw, Senior Vice President and Chief Financial Officer

M. Neale Hickerson, Vice President-Investor Relations

Holly Corporation

214-871-3555

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