EXHIBIT 99.1
GIANT INDUSTRIES, INC.
NEWS RELEASE

Contact: Mark B. Cox
         Executive Vice President, Treasurer, & Chief Financial Officer
         Giant Industries, Inc.
         (480) 585-8888

FOR IMMEDIATE RELEASE

June 30, 2005


                   GIANT INDUSTRIES, INC. ANNOUNCES INCREASE
                       AND EXTENSION OF CREDIT AGREEMENT


Scottsdale, Arizona, June 30, 2005 - Giant Industries, Inc. [NYSE: GI]
today announced that it has entered into a Fourth Amended and Restated
Credit Agreement with Bank of America, N.A., as Administrative Agent,
Swing Line Lender and as Issuing Bank, and a group of banks as Lenders.
The $175,000,000 Revolving Credit Facility is for, among other things,
working capital, acquisitions and other general corporate purposes.
Previously, the amount available under the credit facility was
$100,000,000.

Under this new Credit Facility, existing borrowing costs are reduced,
certain of the covenants have been eased, and the term has been extended
to 2010. The Company also has options to increase the size of the facility
up to $250,000,000.

Giant Industries, Inc., headquartered in Scottsdale, Arizona, is a refiner
and marketer of petroleum products. Giant owns and operates one Virginia
and two New Mexico crude oil refineries, a crude oil gathering pipeline
system based in Bloomfield, New Mexico, which services the New Mexico
refineries, finished products distribution terminals in Albuquerque, New
Mexico and Flagstaff, Arizona, a fleet of crude oil and finished product
truck transports and a chain of retail service station/convenience stores
in New Mexico, Colorado, and Arizona. Giant is also the parent company of
Phoenix Fuel Co., Inc., an Arizona wholesale petroleum products
distributor. For more information, please visit Giant's website at
www.giant.com.