Delek US Holdings, Inc. Announces Pricing of Initial Public Offering

FRANKLIN, Tenn., May 3 /PRNewswire-FirstCall/ -- Delek US Holdings, Inc. announced today that its initial public offering of 10,000,000 shares of its common stock has been priced at $16.00 per share. The shares will be listed on the New York Stock Exchange and will begin trading under the symbol "DK" on May 4, 2006. All of the shares being offered are primary shares being sold by the company.

At the closing of the initial public offering, which is scheduled for May 9, 2006, the company expects to receive net proceeds of approximately $149.6 million, after deducting underwriting discounts but before offering expenses. The company intends to use the net proceeds for repayment of debt to its affiliates, future acquisitions, capital improvements to the company's refinery and retail fuel and convenience stores, new construction and general corporate purposes. Upon completion of the offering, the company will have 49,389,869 shares of common stock outstanding, including 39,389,869 shares of common stock held indirectly by its parent company, Delek Group Ltd.

Delek US Holdings, Inc. has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock.

Lehman Brothers Inc. and Citigroup Global Markets Inc. are acting as joint book-running managers for the offering, and Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Morgan Keegan & Company, Inc., William Blair & Company, L.L.C., SunTrust Capital Markets, Inc. and IDB Capital Corp. are acting as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on May 3, 2006. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Detailed information about the company and the offering are contained in the company's prospectus for the offering. A copy of the final prospectus related to this offering may be obtained from:

  Lehman Brothers Inc.
  c/o ADP Financial Services            Citigroup Global Markets Inc.
  IDS Prospectus Fulfillment            Brooklyn Army Terminal
  1155 Long Island Avenue               140 58th Street, 8th floor
  Edgewood, New York 11717              Brooklyn, New York, 11220

  Email to:     Attention: Prospectus Department
  Fax:  631-254-7268                    Phone: 718-765-6732

About Delek US Holdings, Inc.

Delek US Holdings, Inc. is a diversified energy business focused on petroleum refining and supply and on retail marketing. The company's business consists of two main operating segments: refining and retail. The refining segment operates a high conversion, independent refinery in Tyler, Texas. The retail segment markets gasoline, diesel and other refined petroleum products and convenience merchandise through a network of 349 company-operated retail fuel and convenience stores.

Investor Contact:
Scott Brittain
Corporate Communications

U.S. Media Contact:
Paula Lovell
Lovell Communications Inc.
615-972-2964 (Cell)

Israel Media Contact:
Lior Chorev
Arad Communications