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Service Corporation International Announces Receipt of Requisite Consents in Tender Offer and Consent Solicitation for Its Medium-Term Notes, Series A

HOUSTON, March 14 /PRNewswire/ -- Service Corporation International (SCI), the world's largest funeral and cemetery company, announced today that it has received consents from holders of $140,710,000 in aggregate principal amount of its outstanding Medium-Term Notes, Series A to certain amendments to the Indenture relating to such Notes.

As a result, holders of Notes who wish to receive the Consent Payment of $1.50 per $1,000 principal amount of Notes upon consummation of the tender offer must tender their Notes and related Consents to The Bank of New York, as Depositary, at or prior to 5:00 p.m., New York City time, on March 17, 1997.

In addition, the tender offer will remain open until 5:00 p.m., New York City time, on March 21, 1997 and the "Price Determination Date" for the tender offer will be March 18, 1997, the third business day immediately preceding the expiration date.

NationsBanc Capital Markets, Inc. (NCMI) 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 704-269-5550; or D.F. King & Co, 212-269-5550 or 800-735-3568