Included in NuStar Energy L.P.'s earnings estimate for the second quarter of 2009 is a $16.9 million, or $0.31 per unit, net gain resulting primarily from the sale of the Ardmore-Wynnewood pipeline in Oklahoma and the Trans-Texas pipeline. The sale of these pipelines, which was effective June 15, generated proceeds of $29 million, which were used to pay down debt.

"The sale of the pipelines in the second quarter of 2009 is a continuation of our strategy to divest assets where we see limited growth and where we can redirect the proceeds to more profitable opportunities," said Curt Anastasio, Chief Executive Officer and President of NuStar Energy L.P. and NuStar GP Holdings, LLC. "Looking forward, we are just now entering the strong part of the asphalt season and continue to expect record earnings for the full year 2009 primarily due to the contribution from our asphalt operations and internal growth projects."

The partnership also announced today that it plans to hold an analyst meeting on the morning of Wednesday, June 24, 2009. The topics to be addressed during the meeting include a review of the partnership's business segments, operational and safety performance, capital projects, financial and strategic positioning and other related matters. The meeting will be webcast live beginning at 8:10 a.m. ET and will be available the morning of June 24 on NuStar Energy L.P. and NuStar GP Holdings, LLC's Web sites at www.nustarenergy.com and www.nustargp.com under the "Investors" section of the Web site. In addition, prepared presentation materials will be posted on NuStar Energy L.P. and NuStar GP Holdings, LLC's Web sites at www.nustarenergy.com and www.nustargp.com under "Investors" and "Management Presentations."

NuStar Energy L.P. is a publicly traded, limited partnership based in San Antonio, with 8,407 miles of pipeline, 82 terminal facilities, four crude oil storage tank facilities and two asphalt refineries with a combined throughput capacity of 104,000 barrels per day. One of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation, NuStar has operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. The partnership's combined system has nearly 91 million barrels of storage capacity, and includes two asphalt refineries, crude oil and refined product pipelines, refined product terminals, a petroleum and specialty liquids storage and terminaling business, as well as crude oil storage facilities. For more information, visit NuStar Energy L.P.'s Web site at www.nustarenergy.com.

NuStar GP Holdings, LLC is a publicly traded limited liability company that owns the two percent general partner interest, an 18.4 percent limited partner interest and the incentive distribution rights in NuStar Energy L.P., one of the largest asphalt refiners and marketers in the U.S. and the second largest independent liquids terminal operator in the nation with operations in the United States, the Netherlands Antilles, Canada, Mexico, the Netherlands and the United Kingdom. For more information, visit NuStar GP Holdings, LLC's Web site at www.nustargp.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking statements regarding future events. All forward-looking statements are based on the partnership and company's beliefs as well as assumptions made by and information currently available to the partnership and company. These statements reflect the partnership and company's current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy L.P. and NuStar GP Holdings, LLC's 2008 annual reports on Form 10-K and subsequent filings with the Securities and Exchange Commission.

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