Exhibit 99.1
NEWS
RELEASE
2005-10
FOR IMMEDIATE RELEASE
Contact: Doug Aron
713-688-9600 x145
FRONTIER OIL ANNOUNCES SHAREHOLDER APPROVAL
OF ADDITIONAL AUTHORIZED SHARES
HOUSTON, TEXAS, May 23, 2005 - Frontier Oil Corporation (NYSE: FTO) announced that at today’s special meeting its shareholders approved an amendment to the Company’s Restated Articles of Incorporation, which will allow the increase in the authorized shares outstanding from 50 million to 90 million. The additional authorized shares will permit the Company to split its common shares 2-for-1 by means of a stock dividend as announced on April 15, 2005. The stock dividend is payable June 17, 2005 to shareholders of record as of the close of business on May 23, 2005.
Frontier operates a 110,000 barrel-per-day refinery located in El Dorado, Kansas, and a 46,000 barrel-per-day refinery located in Cheyenne, Wyoming, and markets its refined products principally along the eastern slope of the Rocky Mountains and in other neighboring plains states. Information about the Company may be found on its web sitewww.frontieroil.com.
This news release includes forward-looking statements concerning the Company. These may include statements of plans or objectives for future operations, statements about future economic performance or assumptions or estimates. The accuracy of these forward-looking statements is subject to a wide range of business risks and changes in circumstances that are described in our reports that are filed from time to time with the Securities and Exchange Commission. Actual results and outcomes often differ from expectations.
* * * * * *
