The Board of Directors of Holly Energy Partners, L.P. HEP has declared
a cash distribution of $0.925 per unit for the third quarter of 2012. For the
prior quarter, $0.91 was distributed to unitholders. Holly Energy has
increased its distribution to unitholders every quarter since becoming a
public partnership in July 2004. This marks the 32nd consecutive quarterly
increase. The distribution will be paid November 14, 2012, to unitholders of
record November 5, 2012.
This release is intended to be a qualified notice under Treasury Regulation
Section 1.1446-4(b). Please note that one-hundred (100.0%) percent of Holly
Energy Partner's distributions to foreign investors are attributable to income
that is effectively connected with a United States trade or business.
Accordingly, Holly Energy Partner's distributions to foreign investors are
subject to federal income tax withholding at the highest applicable effective
tax rate.
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