Western Refining Declares Special Dividend of $1.50 Per Share

Western Refining Declares Special Dividend of $1.50 Per Share

EL PASO, Texas, Dec. 11, 2012 (GLOBE NEWSWIRE) -- Western Refining, Inc.
(NYSE:WNR) today announced that on December 10, 2012, its Board of Directors
declared a special cash dividend in the amount of $1.50 per share, payable on
December 28, 2012, to shareholders of record at the close of market on
December 21, 2012.

Jeff Stevens, CEO and President of Western Refining, said, "The decision by
our Board of Directors to declare a second 2012 special dividend reflects our
on-going commitment to our shareholders. Our margin environment continues to
be very strong.The Permian Basin crude oil discount significantly widened in
December and continues to widen into 2013.This environment, coupled with our
aggressive debt reduction, conservative capital structure, and on-going
hedging initiative, allows the Company to continue to return cash to
shareholders via dividends and our share repurchase program.In 2012, Western
will return over $320 million to its shareholders. These actions, and our
continued investment in the business, reinforce our commitment to create value
for Western's shareholders."

About Western Refining

Western Refining, Inc. is an independent refining and marketing company
headquartered in El Paso, Texas. Western operates refineries in El Paso, and
Gallup, New Mexico. Western's asset portfolio also includes stand alone
refined products terminals in Albuquerque and Bloomfield, New Mexico; asphalt
terminals in Phoenix and Tucson, Arizona, Albuquerque, and El Paso; retail
service stations and convenience stores in Arizona, Colorado, New Mexico and
Texas; a fleet of crude oil and finished product truck transports; and
wholesale petroleum products operations in Arizona, California, Colorado,
Maryland, Nevada, New Mexico, Texas, and Virginia. More information about the
Company is available at www.wnr.com.

The Western Refining, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7615

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements which are protected as
forward looking statements under the Private Securities Litigation Reform Act
of 1995. The forward-looking statements contained herein include statements
about future: margin environments, Permian Basin crude oil discounts, ability
to reduce debt aggressively or at all, conservativeness of our capital
structure, hedging initiatives, return of cash to shareholders, dividends,
share repurchases, investments in our business and value to Western
shareholders. These statements are subject to the general risks inherent in
our business and may or may not be realized. Additional information relating
to the uncertainties affecting Western's business is contained in its filings
with the Securities and Exchange Commission. The forward-looking statements
are only as of the date made, and Western does not undertake any obligation to
(and expressly disclaims any obligation to) update any forward-looking
statements to reflect events or circumstances after the date such statements
were made, or to reflect the occurrence of unanticipated events.

CONTACT: Investor and Analyst Contact:
         Jeffrey S. Beyersdorfer
         (602) 286-1530
        
         Media Contact:
         Gary Hanson
         (602) 286-1777

Western Refining Inc. Logo
 
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