IPO Profile

Holly Energy Partners
100 Crescent Court, Suite 1600, Dallas, Texas 75201
Tel: 214-871-3555
Web: www.hollyenergy.com
Ticker: HEP
Stock Exchange: New York Stock Exchange
Shares Issued: 6,100,000.00
Price Offered: $22.25
Amount Raised: $135,725,000.00

Underwriters:
Goldman Sachs & Co.
Lehman Brothers
A.G. Edwards & Sons
UBS Investment Bank
Raymond James

Company Description:
Holly Energy Partners is a Delaware limited partnership recently formed by Holly Corporation. We operate a system of refined product pipelines and distribution terminals primarily in West Texas, New Mexico, Utah and Arizona. We generate revenues by charging tariffs for transporting products through our pipelines and by charging fees for terminalling refined products and other hydrocarbons in, and storing and providing other services at, our terminals. We do not take ownership of products that we transport or terminal and therefore we are not directly exposed to changes in commodity prices. We serve Holly Corporation�s refineries in New Mexico and Utah under a 9.5 year pipelines and terminals agreement. We are dedicated to generating stable cash flows and growing our business.