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HOLLY CORPORATION FILES FORM 8-K WITH SEC

 DALLAS, June 24 /PRNewswire/ -- Holly Corporation (AMEX: HOC) has filed with the SEC a form 8-K stating that:
 "The company has previously disclosed that the EPA was likely to bring an enforcement proceeding relating to an alleged discharge to surface impoundments of a hazardous chemical in excess of the amount allowable. On June 16, 1993, the company was notified by the United States Department of Justice that it intends to seek civil penalties and other compliance measures under the Resource Conservation and Recovery Act and implementing regulations of the Environmental Protection Agency, alleging that these discharges to surface impoundments have caused illegal hazardous waste management at a subsidiary's refinery in Artesia, New Mexico. At the invitation of the Department of Justice, the company is exploring the possibility of a mutually satisfactory resolution. The company cannot determine at this time whether the resolution of this matter will have a material adverse effect upon the company's results of operations or financial condition."
 Holly Corporation, through its affiliates, Navajo Refining Company and Montana Refining Company, is engaged in the refining of petroleum products.
 -0- 6/24/93
 /CONTACT: Christopher L. Cella, vice president and general counsel, of Holly Corporation, 214-871-3555 or Lee Sneath of Dalton, Sneath & Company, 214-380-0010, for Holly Corporation/
 (HOC)


CO: Holly Corporation ST: Texas IN: OIL SU:

LR -- NY051 -- 5330 06/24/93 12:51 EDT
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Publication:PR Newswire
Date:Jun 24, 1993
Words:226
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