Holly Corporation Announces Regular Quarterly Cash Dividend

DALLAS, Nov. 5 /PRNewswire-FirstCall/ -- Holly Corporation (NYSE: HOC) today
announced the declaration of a regular quarterly cash dividend in the amount
of $0.15 per share payable on January 4, 2010, to holders of record on
December 21, 2009.

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 100,000
barrels per day ("bpd") refinery located in Artesia, New Mexico, an 85,000 bpd
refinery in Tulsa, Oklahoma and a 31,000 bpd refinery in Woods Cross, Utah.
Holly also owns a 41% interest (including the general partner interest) in
Holly Energy Partners, L.P. (NYSE: HEP), which through subsidiaries owns or
leases approximately 2,700 miles of petroleum product pipelines in Texas, New
Mexico and Oklahoma and petroleum product terminals in several Southwest,
Rocky Mountain and Midcontinent states.

SOURCE Holly Corporation

Bruce R. Shaw, Senior Vice President and Chief Financial Officer, or M. Neale
Hickerson, Vice President-Investor Relations, both of Holly Corporation,
+1-214-871-3555