Service Corporation International Completes Private Offering Of $425 Million Of 5.375% Senior Notes Due 2022

 Service Corporation International Completes Private Offering Of $425 Million
                       Of 5.375% Senior Notes Due 2022

PR Newswire

HOUSTON, July 1, 2013

HOUSTON, July 1, 2013 /PRNewswire/ -- Service Corporation International (NYSE:
SCI) ("SCI") announced today that it has successfully completed its previously
announced private offering of $425 million aggregate principal amount of
5.375% Senior Notes due 2022 (the "Notes"). The Notes will bear interest at
5.375% per year and were priced at par. The net proceeds from the offering
will be used, together with borrowings under SCI's senior credit facilities
and cash on hand, to finance SCI's previously announced acquisition (the
"Acquisition") of Stewart Enterprises, Inc. ("Stewart"), including the
repayment of certain existing indebtedness of Stewart and the payment of
transaction costs.

The net proceeds will be held in an escrow account pending the consummation of
the Acquisition. The Acquisition is expected to close in late 2013 or early
2014, subject to regulatory approvals and customary closing conditions. All
outstanding Notes are subject to special mandatory redemption in the event
that the Acquisition and related transactions are not consummated on or prior
to February 28, 2014, SCI determines, in its sole discretion, that the
Acquisition will not be consummated by that date or the merger agreement is

The Notes may be resold by the initial purchasers pursuant to Rule 144A and
Regulation S under the Securities Act of 1933 (the "Securities Act"). The
Notes have not been registered under the Securities Act or the securities laws
of any state and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements
under the Securities Act and any applicable state securities laws.

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 the Notes in any state in
which the offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.

Forward-Looking Statements

Information set forth in this press release contains forward-looking
statements, which involve a number of risks and uncertainties. Readers are
cautioned that any forward-looking information is not a guarantee of future
performance and that actual results could differ materially from those
contained in the forward-looking information. Such forward-looking statements
include, but are not limited to, statements about the benefits of the
Acquisition, including future financial and operating results, the combined
company's plans, objectives, synergies, expectations and intentions and other
statements that are not historical facts.

The following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the ability to obtain
regulatory approvals of the Acquisition on the proposed terms and schedule;
the failure of Stewart's shareholders to approve the Acquisition; the risk
that the businesses will not be integrated successfully; the risk that the
cost savings and any other synergies from the Acquisition may not be fully
realized or may take longer to realize than expected; disruption from the
Acquisition making it more difficult to maintain relationships with customers,
employees or suppliers. Additional factors that may affect future results are
contained in SCI's filings with the SEC, which are available at SCI disclaims any obligation to update and revise
statements contained in these materials based on new information or otherwise.

About Service Corporation International

Service Corporation International, headquartered in Houston, Texas, is North
America's leading provider of deathcare products and services. At March 31,
2013, we owned and operated 1,437 funeral homes and 374 cemeteries (of which
213 are combination locations) in 43 states, eight Canadian provinces and the
District of Columbia. Through our businesses, we market the Dignity Memorial®
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 For
more information about Dignity Memorial®, please visit

For additional information contact:
Investors: Debbie Young - Director / Investor Relations         (713) 525-9088
Media:     Lisa Marshall - Managing Director / Corporate        (713) 525-3066

SOURCE Service Corporation International

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