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Press release from Business Wire

HollyFrontier Corporation Makes Application to Cease to Be a Reporting Issuer in Canada

Thursday, October 11, 2012

HollyFrontier Corporation Makes Application to Cease to Be a Reporting Issuer in Canada16:44 EDT Thursday, October 11, 2012 CALGARY, Alberta (Business Wire) -- HollyFrontier Corporation (NYSE: HFC) announced today that it has applied for a decision from the Alberta Securities Commission and Ontario Securities Commission to no longer be a reporting issuer in Alberta and Ontario. HollyFrontier Corporation is not a reporting issuer in any other Canadian jurisdiction. If the requested decision is made by the securities commissions, HollyFrontier Corporation will cease to be a reporting issuer in Canada. HollyFrontier Corporation will continue to file all continuous disclosure reports required under U.S. securities laws (accessible at www.sec.gov/edgar.shtml) and will continue to deliver to its Canadian securityholders all disclosures that it is required to deliver to U.S. resident securityholders. About HollyFrontier Corporation HollyFrontier Corporation, headquartered in Dallas, Texas, is an independent petroleum refiner and marketer that produces high value light products such as gasoline, diesel fuel, jet fuel and other specialty products. HollyFrontier operates through its subsidiaries a 135,000 barrels per stream day ("bpsd") refinery located in El Dorado, Kansas, a 125,000 bpsd refinery in Tulsa, Oklahoma, a 100,000 bpsd refinery located in Artesia, New Mexico, a 52,000 bpd refinery located in Cheyenne, Wyoming and a 31,000 bpsd refinery in Woods Cross, Utah. HollyFrontier markets its refined products principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. A subsidiary of HollyFrontier also owns a 44% interest (including the 2% general partner interest) in Holly Energy Partners, L.P. Information about HollyFrontier may be found on its website at http://www.hollyfrontier.com. 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" within the meaning of the federal securities laws. Forward-looking statements use words such as "anticipate," "project," "expect," "plan," "goal," "forecast," "will," "intend," "could," "believe," "may," and similar expressions and statements regarding our plans and objectives for future operations. These statements are based on our beliefs 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 we believe that such expectations reflected in such forward-looking statements are reasonable, we cannot give assurance that our expectations will prove to be correct. Such statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to: risks and uncertainties with respect to the actions of actual or potential competitive suppliers of refined petroleum products in HollyFrontier's markets; the demand for and supply of crude oil and refined products; the spread between market prices for refined products and market prices for crude oil; the possibility of constraints on the transportation of refined products; the possibility of inefficiencies, curtailments or shutdowns in refinery operations or pipelines; effects of governmental and environmental regulations and policies; the availability and cost of financing to HollyFrontier; the effectiveness of HollyFrontier's capital investments and marketing strategies; HollyFrontier's efficiency in carrying out construction projects; the ability of HollyFrontier to acquire refined product operations or pipeline and terminal operations on acceptable terms and to integrate any future acquired operations; the possibility of terrorist attacks and the consequences of any such attacks; general economic conditions; and other financial, operational and legal risks and uncertainties detailed from time to time in HollyFrontier's U.S. Securities and Exchange Commission filings. The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. HollyFrontier CorporationInvestor Relations:M. Neale Hickerson, 214-871-3555orJulia Heidenreich, 214-871-3555