Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Frontier Oil Corporation, in Connection with the Proposed Acquisition of the Company by Holly Corporation

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Frontier Oil Corporation (“Frontier” or the “Company”) (NYSE:FTO) related to the Company’s agreement to merge with Holly Corporation (“Holly”). The proposed stock-for-stock transaction is valued at approximately $2.9 billion.

Under the terms of the definitive merger agreement entered into by the parties, Frontier shareholders will receive 0.4811 Holly shares for each share they own of Frontier common stock. If the transaction is completed, Frontier shareholders are expected to own approximately 49 percent of the combined company and Holly shareholders are expected to own approximately 51 percent. The transaction is expected to be completed in the third quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by Frontier’s board of directors.

If you are a shareholder of Frontier, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.