Holly Corporation Selects GTC Technology’s Benzene Management Technology for Oklahoma, Utah Refineries 

HOUSTON, Texas, May 12, 2010 — GTC Technology US, LLC announced today it was selected by Holly Corporation (NYSE: HOC) and two subsidiaries to provide process design engineering and its licensed GT-BenZap® technology for benzene management and reduction. The licensed technology will support Holly’s efforts for compliance with EPA-mandated Mobile Source Air Toxics (MSAT2) benzene regulations.

GTC’s benzene saturation process, GT-BenZap®, will reduce benzene concentration in the reformate gasoline stream at Holly Refining and Marketing’s refineries in Tulsa, Oklahoma and Woods Cross, Utah. GT-BenZap® is designed as a cost-efficient alternative for refiners with limited economy of scale for benzene recovery, or where the refinery is located far away from benzene consumers.

“When the demands of MSAT2 required us to make facility modifications, we knew we needed a reliable, yet competitively priced alternative,” said Gary Fuller, Senior Vice President, Refinery Operations at Holly Corporation. “GTC stepped forward, willing to work with our engineers, to collaborate and accelerate a solution that best met our needs.”

MSAT2 requires refiners, like Holly Refining and Marketing, to limit the concentration of benzene in gasoline to no more than 0.62 LV% (liquid volume percent) by January 1, 2011. GT-BenZap will allow Holly Refining and Marketing to implement a simple and reliable technology utilizing an isolated hydrogenation reactor and a world-class catalyst in the process.

“We are excited to have this opportunity to help Holly Corporation, a strong and growing independent refiner, with a cost-effective and efficient solution,” said Pinti Wang, President and CEO of GTC Technology. “GT-BenZap provides a solution that can reduce benzene in the reformate stream by more than 99.9 percent and yield lower operating costs.”

In addition to GT-BenZap, GTC worked with Holly to reuse existing equipment to reduce capital expenditures and provided a Process Design Package, which streamlined engineering work and avoided duplication of efforts.

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About GTC Technology US, LLC
Headquartered in Houston, Texas, GTC Technology US, LLC is a global licensor of process technologies, offering engineering services, mass transfer solutions, chemicals and catalysts to the chemical, petrochemical, refining and gas processing markets. With engineering, manufacturing facilities and a knowledgeable sales force located throughout the globe, GTC combines unparalleled industry expertise, powerful research capabilities and innovative thinking to deliver high-quality, strategic solutions for clients worldwide.  For more information, visit www.gtctech.com

About Holly Corporation
Holly 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. Holly operates through its subsidiaries a 100,000 bpd refinery located in Artesia, New Mexico, a 125,000 bpd refinery in Tulsa, Oklahoma and a 31,000 bpd refinery in Woods Cross, Utah. A subsidiary of Holly also owns a 34% interest (including the general partner interest) in Holly Energy Partners, L.P.  For more information, visit www.hollycorp.com.

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