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Service Corporation International Prices Tender Offer For Its Medium-Term Notes, Series A

HOUSTON, March 18 /PRNewswire/ -- Service Corporation International (NYSE: SRV) (SCI), the world's largest funeral and cemetery company, announced today that it has determined the purchase prices on its previously announced tender offer relating to its outstanding Medium-Term Notes, Series A. The tender offer is being made pursuant to the Offer to Purchase and Consent Solicitation Statement dated February 18, 1997.

The tender offer price for each $1,000 principal amount of Notes of each series of Notes (the "Purchase Price") is set forth in the table below:

                                                         Fixed       Purchase
          Security             Reference Security        Spread       Price

    9.90% Senior Notes due      7-3/8% Notes due
     November 15, 1997           November 15, 1997        0.12%      $102.500
    10.05% Senior Notes due     5-3/8% Notes due
     December 17, 1997           November 30, 1997        0.12%      $102.992
    9.95% Senior Notes due      5-3/8% Notes due
     December 22, 1997           November 30, 1997        0.12%      $102.977
    10.15% Senior Notes due     5-3/8% Notes due
     December 22, 1997           November 30, 1997        0.12%      $103.120
    10.16% Senior Notes due     5-3/8% Notes due
     December 22, 1997           November 30, 1997        0.12%      $103.127
    10.05% Senior Notes due     5-1/4% Notes due
     December 30, 1997           December 31, 1997        0.12%      $103.132
    9.90% Senior Notes due      5-1/4% Notes due
     December 30, 1997           December 31, 1997        0.12%      $103.021
    9.05% Senior Notes due      5-5/8% Notes due
     February 10, 1998           January 31, 1998         0.15%      $102.628
    10.15% Senior Notes due     6-1/4% Notes due
     January 6, 2003             February 15, 2003        0.35%      $115.068
    9.30% Senior Notes due      6-1/4% Notes due
     February 15, 2008           February 15, 2007        0.47%      $115.823
    9.50% Senior Notes due      6-1/2% Notes due
     October 31, 2017            November 15, 2026        0.59%      $119.724
    9.50% Senior Notes due      6-1/2% Notes due
     February 12, 2018           November 15, 2026        0.59%      $119.842
    9.52% Senior Notes due      6-1/2% Notes due
     February 12, 2018           November 15, 2026        0.59%      $120.050
    10.00% Senior Notes due     6-1/2% Notes due
     October 15, 2018            November 15, 2026        0.59%      $125.364
    9.00% Senior Notes due      6-1/2% Notes due
     August 1, 2019              November 15, 2026        0.59%      $115.052

The Purchase Price for each series of Notes was determined by reference to the applicable Fixed Spread over the yield on the applicable Reference Security, each as set forth in the table above.

The tender offer will expire at 5:00 p.m., New York City time, on March 21, 1997, unless extended. Holders who validly tender (and do not withdraw) their Notes at or prior to such time will receive the applicable Purchase Price, plus accrued and unpaid interest on the Notes to but not including the date of payment.

Only Holders who tendered their Notes or validly consented (and did not revoke such consent) to the proposed amendments to the indenture pursuant to which the Notes were issued at or prior to 5:00 p.m., New York City time, on March 17, 1997 will receive the Consent Payment of $1.50 per $1,000 principal amount of the Notes.

NationsBanc Capital Markets, Inc. is serving as Dealer Manager and D.F. King & Co., Inc. is serving as Information Agent in connection with the tender offer.

Service Corporation International is the largest funeral and cemetery organization in the world, with 2,882 funeral service locations, 345 cemeteries and 150 crematoria as of December 31, 1996. SCI provides funeral and cemetery services in North America, Europe and the Pacific Rim. SCI's stock is traded on the New York Stock Exchange. The company's ticker symbol is SRV.
SOURCE Service Corporation International
CONTACT: Simon Morgan or Jonah Hirsch of NCMI, 704-388-4813, collect