Service Corporation International Obtains Regulatory Clearance to Acquire
Keystone North America Inc.
</pre> <p><span class="xn-location">HOUSTON</span>, <span class="xn-chron">March 24</span> /CNW/ -- Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in <span class="xn-location">North America</span>, announced today that it has received an early termination of the waiting period under the Hart-Scott-Rodino Antitrust Act from the U.S. Federal Trade Commission (the "FTC") in connection with SCI's tender offer (the "Offer") for all of the issued and outstanding common shares, including those represented by income participating securities, (the "Keystone Shares") in the capital of Keystone <span class="xn-location">North America</span> Inc. ("Keystone") (TSX: KNA, KNA.UN). With that regulatory clearance, SCI, through its wholly owned subsidiary, SCI Alliance Acquisition Corporation, intends to take up all of the Keystone Shares tendered to the Offer as of the expiry time, provided that the 66 2/3% minimum tender condition and the other conditions of the Offer are met.</p> <p/> <p>Keystone shareholders are encouraged to tender their Keystone Shares before the Offer expires at <span class="xn-chron">3:00 p.m. (Eastern time</span>) on <span class="xn-chron">Friday, March 26, 2010</span>.</p> <p/> <p>In connection with the regulatory review by the FTC, SCI agreed to the entry of a Decision and Order and an Order to Hold Separate and Maintain Assets pursuant to which SCI will sell certain Keystone and SCI assets. The required divesture assets total 22 funeral homes and five cemeteries with approximate combined annual revenues and EBITDA of <span class="xn-money">$19,000,000</span> and <span class="xn-money">$6,000,000</span>, respectively.</p> <p/> <p>Keystone shareholders with questions or requests should contact Kingsdale Shareholder Services Inc., the Information Agent in connection with the Offer:</p> <p/> <p> </p> <p> </p> <pre> North American Toll Free Phone: 1-866-581-1487 Outside North America, Banks and Brokers Call Collect: 416-867-2272 E-mail: [email protected] Facsimile: 416-867-2271 Toll Free Facsimile: 1-866-545-5580 About Service Corporation International </pre> <p>Service Corporation International (NYSE: SCI), headquartered in <span class="xn-location">Houston</span>, Texas, is North America's largest provider of deathcare products and services. At <span class="xn-chron">December 31, 2009</span>, we owned and operated 1,254 funeral homes and 372 cemeteries (of which 212 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and <span class="xn-location">Puerto Rico</span>. Through our businesses, we market the Dignity Memorial(R) brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at <a href="http://www.sci-corp.com">www.sci-corp.com</a>. For more information about Dignity Memorial(R), please visit <a href="http://www.dignitymemorial.com">www.dignitymemorial.com</a>.</p> <pre> Reader Advisory </pre> <p>This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of an offer to sell, dispose, issue, purchase, acquire or subscribe for any security. The Offer is being made exclusively by means of and subject to the terms and conditions set out in the Offer documentation delivered to Keystone shareholders and filed with the Canadian provincial securities regulators. Keystone shareholders should read these materials carefully as they contain important information, including the terms and conditions of the Offer. The Offer documentation is available electronically without charge at <a href="http://www.sedar.com">www.sedar.com</a>.</p> <p/> <p> </p> <p> </p> <p>For additional information contact:</p> <p> </p> <p>Service Corporation International</p> <p> </p> <pre> Investors: Debbie Young /Investor Relations (713) 525-9088 Media: Lisa Marshall /Corporate Communications (713) 525-3066
For further information: Investors, Debbie Young +1-713-525-9088, or Media, Lisa Marshall, +1-713-525-3066, both of Service Corporation International Web Site: http://www.sci-corp.com http://www.dignitymemorial.com
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