Not many teams leave Ravenhill with a win, but the second-string Ospreys muscled their way to a 20-12 victory that Holley says is a turning point in their season.
"We didn't start the season well, probably because we were in a new home and we had a lot of injuries to key players, but I think you've seen the real Ospreys in the last couple of weeks," he said. "The win in Ulster was brilliant - we had about a dozen players missing, but the other guys really dug deep. Not many teams will win in Ulster this season and it was a very nice feeling to return with the points."
Holley said the defending champions had no intention of taking their hands off the Celtic League trophy just yet.
"We're about sixth on the table and I think a lot of the top teams will take points off each other. And looking at the draw, about seven of our last 10 games are at home. We know we can't afford to lose too many more games, but it's a bit early to write us off just yet.
"Our next game is the Powergen Cup match against Bristol on December 2, and - touch wood - we should have a full compliment of players back by then. The likes of Gavin Henson and Ryan Jones are targeting that match, and I don't think many teams will be looking forward to playing us when all our players are fit."
Outside-half Shaun Connor - who is enjoying the best season of his career - was again the Ospreys' hero on Friday night. He slotted four penalty goals and a clever dropped goal to compliment the effort of scrum-half Jason Spice, who scored the only try of a hard-fought match.
The Welsh Rugby Union is forming a new Youth Board with a brief to help keep more young people involved in the game during their late teenage years and beyond. The first task of the fifteen strong Board will be to analyse and consider the issues which lead to a number of youngsters drifting away from the sport between the ages of 16 and 21. To apply visit www.wru.wales/youthboard
The Foster's Challenge Cup will involve the 12 Principality Premiership sides and will run during European and British & Irish Cup weeks, providing vital fixtures for the participating clubs and an opportunity for upcoming players to step up to semi-professional rugby and make a claim for starting places within the Premiership squads.
Eighty schools and colleges in Wales now have a full time rugby officer as part of the WRU's school club hub scheme. All of the school club hub officers recently gathered at the National Centre of Excellence for various workshops.
With Liam Williams forced out of the World Cup through injury, lock Luke Charteris and Skills Coach Neil Jenkins say they have to put yesterday's defeat behind them as Wales now look ahead to another physical encounter against South Africa in the quarter-finals of the Rugby World Cup.
WRU Consultant Head of Physical Performance Paul Stridgeon praises the Physical Performance department for their work and dedication as he addresses the media ahead of Wales' Pool A clash against Australia
Twelve young people have been selected to follow a one year WRU Coach Core apprenticeship programme. Coach Core was set up by the Royal Foundation of the Duke and Duchess of Cambridge and Prince Harry as part of the Olympics legacy in 2012 and the Duke of Cambridge was on hand to meet the apprentices on their first day in the job. The programme has been funded by the Hunter Foundation.
The WRU has launched a campaign to create a long term legacy for Welsh club rugby by highlighting the advantages of volunteering. Rhian Edwards, a volunteer at Seven Sisters, has enjoyed many benefits of her volunteering at a grassroots rugby club including being part of the Rugby World Cup volunteer workforce after being nominated by the WRU - and the WRU is asking for more people to develop their 'Welsh rugby roots'.