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HUNTWAY PARTNERS L.P. ANNOUNCES EXPIRATION OF PREFERENCE PERIOD

 VALENCIA, Calif., Dec. 30 /PRNewswire/ -- Huntway Partners L.P. (NYSE: HWY) ("Huntway") announced today that the preference period for its Preference Units will terminate on Dec. 31, 1993 (midnight) pursuant to Huntway's Amended and Restated Agreement of Limited Partnership. Upon such termination all Preference Units will automatically be converted into Common Units pursuant to the terms of the partnership agreement.
 Commencing on Monday, Jan. 3, 1994 the Common Units will replace the Preference Units and trade in the form of Depositary Receipts. Huntway said that holders of Depositary Receipts formerly representing Preference Units do not need to take any action at this time but that all future transfers would be affected by the issuance to the transferee of new Depositary Receipts representing Common Units.
 Huntway Partners L.P. owns and operates two refineries at Wilmington and Benicia, Calif., which primarily process California crude oils to produce liquid asphalt for use in road construction and repair, as well as smaller amounts of gas oil, naphtha, kerosene distillate, and bunker fuels. Its third refinery, at Coolidge, Ariz., which is temporarily shut down and being offered for sale, is configured to produce a similar product slate as well as jet fuel and diesel fuel.
 The company's Preference Units are traded on the New York Stock Exchange.
 -0- 12/30/93
 /CONTACT: Warren J. Nelson, executive VP and CFO, Huntway Partners, L.P., 805-253-1799; or Thomas E. Siebert, Siebert & Associates, 818-360-6408/
 (HWY)


CO: Huntway Partners L.P. ST: California IN: OIL SU:

JM-EH -- LA007 -- 7993 12/30/93 10:00 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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