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<SEC-DOCUMENT>0000898822-06-000241.txt : 20060403
<SEC-HEADER>0000898822-06-000241.hdr.sgml : 20060403
<ACCEPTANCE-DATETIME>20060403095354
ACCESSION NUMBER:		0000898822-06-000241
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		17
CONFORMED PERIOD OF REPORT:	20060403
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060403
DATE AS OF CHANGE:		20060403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SERVICE CORPORATION INTERNATIONAL
		CENTRAL INDEX KEY:			0000089089
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PERSONAL SERVICES [7200]
		IRS NUMBER:				741488375
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06402
		FILM NUMBER:		06731444

	BUSINESS ADDRESS:	
		STREET 1:		1929 ALLEN PKWY
		STREET 2:		P O BOX 130548
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77019
		BUSINESS PHONE:		7135225141

	MAIL ADDRESS:	
		STREET 1:		P O BOX 130548
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77219-0548
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>apr38k2.txt
<DESCRIPTION>FORM 8-K, FILED APRIL 3, 2006
<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  April 3, 2006

                        SERVICE CORPORATION INTERNATIONAL
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Texas                           1-6402-1               74-1488375
- ---------------------------------   -----------------------  -------------------
 (State or other jurisdiction of        (Commission            (IRS Employer
              incorporation)            File Number)         Identification No.)

1929 Allen Parkway, Houston, TX                              77019
- -----------------------------------------------   ------------------------------
(Address of principal executive offices)                   (Zip Code)

 Registrant's telephone number, including area code: (713) 522-5141

                                 Not Applicable
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[X] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13.e-4(c)





<PAGE>


ITEM 8.01         OTHER EVENTS.

         On April 3, 2006, Service Corporation International ("SCI") publicly
disseminated a presentation discussing the announcement that SCI had entered
into a definitive agreement to acquire Alderwoods Group, Inc. A copy of the
investor presentation is attached hereto as Exhibit 99.1 and incorporated herein
by reference.


ITEM 9.01         FINANCIAL STATEMENTS AND EXHIBITS.

       (c) Exhibits.

         99.1     Investor Presentation, dated April 3, 2006.







<PAGE>


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                              SERVICE CORPORATION INTERNATIONAL

Date:  April 3, 2006                          By:  /s/ Eric D. Tanzberger
                                                   -----------------------------
                                              Name:  Eric D. Tanzberger
                                              Title: Senior Vice President and
                                                     Corporate Controller



<PAGE>

                                  EXHIBIT INDEX


EX.               DESCRIPTION
- ---               -----------
99.1              Investor Presentation, dated April 3, 2006.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991pres.htm
<DESCRIPTION>EXHIBIT 99.1, PRESENTATION
<TEXT>
<html>
<head>
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<title></title>
</head>
<body >

<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img001.jpg"></p>

<p style='position:absolute;top:74.6875px;left:362.875px;height:100.875px;width:336.125px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:28px;'><b>Service<br>Corporation<br>International</b></font></p>

<p style='position:absolute;top:232.625px;left:259.875px;height:24px;width:271px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:20px;'><i>Acquisition of</i></font></p>

<p style='position:absolute;top:410.625px;left:89.125px;height:48px;width:612.75px; text-align:center;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:20px;'><i>Combining the Two Premier Funeral and Cemetery <br>Services Providers in North America</i></font></p>

<p style='position:absolute;top:502.0625px;left:557px;height:21.625px;width:208px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:18px;'>April 3, 2006</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img002.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Agenda</font></p>

<p style='position:absolute;top:466.375px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Tom Ryan</font></p>

<p style='position:absolute;top:466.375px;left:82px;height:16.75px;width:345.875px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Transaction Summary</font></p>

<p style='position:absolute;top:466.375px;left:-4.375px;height:16.75px;width:86.375px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>V.</font></p>

<p style='position:absolute;top:390.8125px;left:516px;height:28.75px;width:244.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>Senior Vice President &amp; Chief <br>Financial Officer - SCI</font></p>

<p style='position:absolute;top:390.75px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Jeff Curtiss</font></p>

<p style='position:absolute;top:390.75px;left:82px;height:16.75px;width:345.875px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Financial Review</font></p>

<p style='position:absolute;top:390.75px;left:-4.375px;height:16.75px;width:86.375px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>IV.</font></p>

<p style='position:absolute;top:315.1875px;left:516px;height:28.75px;width:244.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>Executive Vice President and <br>Chief Operating Officer &#150; SCI</font></p>

<p style='position:absolute;top:315.125px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Mike Webb</font></p>

<p style='position:absolute;top:315.125px;left:82px;height:16.75px;width:345.875px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Review of Potential Synergies</font></p>

<p style='position:absolute;top:315.125px;left:-4.375px;height:16.75px;width:86.375px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>III.</font></p>

<p style='position:absolute;top:239.5px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Tom Ryan</font></p>

<p style='position:absolute;top:239.5px;left:82px;height:16.75px;width:345.875px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Transaction Overview</font></p>

<p style='position:absolute;top:239.5px;left:-4.375px;height:16.75px;width:86.375px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>II.</font></p>

<p style='position:absolute;top:164.0625px;left:516px;height:28.75px;width:244.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>President &amp; Chief Executive <br>Officer - Alderwoods</font></p>

<p style='position:absolute;top:164px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Paul Houston</font></p>

<p style='position:absolute;top:126.1875px;left:516px;height:28.75px;width:244.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>President &amp; Chief Executive <br>Officer &#150; SCI</font></p>

<p style='position:absolute;top:126.125px;left:377.875px;height:16.75px;width:188.125px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Tom Ryan</font></p>

<p style='position:absolute;top:126.125px;left:82px;height:16.75px;width:345.875px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Opening Remarks</font></p>

<p style='position:absolute;top:126.125px;left:-4.375px;height:16.75px;width:86.375px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:14px;'>I.</font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>2</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img003.jpg"></p>

<p style='position:absolute;top:14.875px;left:24.5px;height:62.5px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:26px;color:#FFFFFF;'><b>Cautionary Statement on Forward-Looking <br>Statements</b></font></p>

<p style='position:absolute;top:119.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><b>Forward-Looking Statements </b></font></p>

<p style='position:absolute;top:131.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>&nbsp; </font></p>

<p style='position:absolute;top:143.5625px;left:25.75px;height:72px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>Information set forth in this presentation contains forward-looking statements, which involve a number of risks and uncertainties. Service <br>Corporation International (&#147;SCI&#148;) and Alderwoods
Group, Inc. (&#147;Alderwoods&#148;) caution readers that any forward-looking information is not a <br>guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. <br>Such forward-looking
statements include, but are not limited to, statements about the benefits of the business combination transaction <br>involving SCI and Alderwoods, including future financial and operating results, the combined company's plans, objectives, expectations and
<br>intentions and other statements that are not historical facts. </font></p>

<p style='position:absolute;top:215.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>&nbsp; </font></p>

<p style='position:absolute;top:227.5625px;left:25.75px;height:84px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the ability <br>to obtain regulatory approvals of the transaction on
the proposed terms and schedule; the failure of Alderwoods stockholders to approve <br>the transaction; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from <br>the transaction may not
be fully realized or may take longer to realize than expected; disruption from the transaction making it more <br>difficult to maintain relationships with customers, employees or suppliers. Additional factors that may affect future results are contained in
<br>SCI&#146;s and Alderwoods&#146;s filings with the SEC, which are available at the SEC's web site http://www.sec.gov. SCI and Alderwoods disclaim any <br>obligation to update and revise statements contained in these materials based on new information or
otherwise. </font></p>

<p style='position:absolute;top:311.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>&nbsp; </font></p>

<p style='position:absolute;top:323.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><b>Additional Information About this Transaction </b></font></p>

<p style='position:absolute;top:335.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>&nbsp; </font></p>

<p style='position:absolute;top:347.5625px;left:25.75px;height:48px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>In connection with the proposed merger, Alderwoods will file a definitive proxy statement. Alderwoods will mail the definitive proxy <br>statement to its stockholders. Investors and security holders
are urged to read the definitive proxy statement regarding the proposed <br>merger when it becomes available because it will contain important information. You may obtain a free copy of the definitive proxy <br>statement (when available) and other related documents
filed by SCI and Alderwoods with the SEC at the SEC's website at www.sec.gov.  </font></p>

<p style='position:absolute;top:407.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><b>Participants in the Solicitation </b></font></p>

<p style='position:absolute;top:431.5625px;left:25.75px;height:24px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>The directors and executive officers of Alderwoods and SCI and other persons may be deemed to be participants in the solicitation of <br>proxies in respect of the proposed transaction.&nbsp;&nbsp;Information
regarding Alderwoods' directors and executive officers is available in its annual </font></p>

<p style='position:absolute;top:455.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>proxy statement filed with the SEC on April 5, 2005.&nbsp;&nbsp;Information regarding SCI's directors and executive officers is available in its </font></p>

<p style='position:absolute;top:467.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>annual proxy statement filed with the SEC on April 18, 2005.&nbsp;&nbsp;Other information regarding the participants in the proxy solicitation and a </font></p>

<p style='position:absolute;top:479.5625px;left:25.75px;height:12px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other </font></p>

<p style='position:absolute;top:491.5625px;left:25.75px;height:24px;width:770px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>relevant materials to be filed with the SEC when they become available. Investors should read the proxy statement carefully when it <br>becomes available before making any voting or investment decisions.
</font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>3</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img004.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Compelling Transaction Rationale</font></p>

<p style='position:absolute;top:112.75px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Combines the two premier funeral and cemetery services providers in North America </font></p>

<p style='position:absolute;top:141.25px;left:98.875px;height:25.125px;width:729.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>2,332 total locations of which 243 are combination facilities </font></p>

<p style='position:absolute;top:169.75px;left:98.875px;height:50.25px;width:729.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Industry remains fragmented; combined company will have approximately 15% of total <br>estimated industry revenue </font></p>

<p style='position:absolute;top:226.75px;left:61px;height:50.25px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Timing is right for consolidation and opportunity is consistent with SCI&#146;s strategy to create <br>shareholder value </font></p>

<p style='position:absolute;top:283.75px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Easily identifiable cost-saving synergies </font></p>

<p style='position:absolute;top:315.625px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Accretive to operating cash flow</font><font style='font-family:"Times New Roman";font-size:14px;'><sup>(1) </sup></font></p>

<p style='position:absolute;top:347.5px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Accretive to earnings per share within 12 to 24 months</font><font style='font-family:"Times New Roman";font-size:14px;'><sup>(1) </sup></font></p>

<p style='position:absolute;top:379.375px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Investment returns meaningfully exceed SCI&#146;s weighted average cost of capital </font></p>

<p style='position:absolute;top:411.25px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Systems and infrastructure are compatible for ease of integration </font></p>

<p style='position:absolute;top:443.125px;left:61px;height:25.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Long-term business vision confirms focus on scale and customer-oriented strategy</font></p>

<p style='position:absolute;top:531.8125px;left:43px;height:10.75px;width:577px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:9px;'><sup>1</sup></font><font style='font-family:"Times New Roman";font-size:9px;'> Excluding one-time implementation costs</font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>4</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img005.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Transaction Overview</font></p>

<p style='position:absolute;top:125.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>$20.00 per share </font></p>

<p style='position:absolute;top:151.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Equity value: $856 million </font></p>

<p style='position:absolute;top:177.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Enterprise value: $1,230 million </font></p>

<p style='position:absolute;top:203.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>All cash</font></p>

<p style='position:absolute;top:152.8125px;left:43px;height:43.25px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:18px;color:#FFFFFF;'><b>Purchase Price &amp; <br>Consideration</b></font></p>

<p style='position:absolute;top:290.5625px;left:43px;height:21.625px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:18px;color:#FFFFFF;'><b>Sources of Funding</b></font></p>

<p style='position:absolute;top:394.0625px;left:43px;height:21.625px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:18px;color:#FFFFFF;'><b>Timing</b></font></p>

<p style='position:absolute;top:495.5625px;left:43px;height:21.625px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:18px;color:#FFFFFF;'><b>Conditions</b></font></p>

<p style='position:absolute;top:246.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Current cash on hand of $470 million </font></p>

<p style='position:absolute;top:272.5px;left:374.125px;height:38.5px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>JPMorgan has committed to provide an $850 <br>million bridge facility </font></p>

<p style='position:absolute;top:317.75px;left:374.125px;height:38.5px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Permanent financing may include bank debt, bonds <br>and/or other securities</font></p>

<p style='position:absolute;top:391.5px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Expected close by year end 2006</font></p>

<p style='position:absolute;top:458.5px;left:374.125px;height:38.5px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Standard regulatory approvals including Hart-<br>Scott-Rodino </font></p>

<p style='position:absolute;top:503.75px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>AWGI shareholder approval </font></p>

<p style='position:absolute;top:529.75px;left:374.125px;height:19.25px;width:457.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>No financing condition</font></p>

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<font style='font-family:"Times New Roman";font-size:10px;'>5</font></p>
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<p style='position:absolute;top:0px;left:0px;'><img src="img006.jpg"></p>

<p style='position:absolute;top:13.0625px;left:24.5px;height:67.25px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Timing is Right for SCI to Pursue a Strategic <br>Acquisition</font></p>

<p style='position:absolute;top:131.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>SCI debt has been reduced by $3 billion since 1999 </font></p>

<p style='position:absolute;top:157.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Current balance sheet cash of $470 million </font></p>

<p style='position:absolute;top:183.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Net debt-to-total net capital of 32%</font></p>

<p style='position:absolute;top:159.3125px;left:43px;height:19.25px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Healthy Balance Sheet</b></font></p>

<p style='position:absolute;top:257.8125px;left:44px;height:19.25px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Operational Efficiency</b></font></p>

<p style='position:absolute;top:395.3125px;left:44px;height:19.25px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Infrastructure Capability</b></font></p>

<p style='position:absolute;top:343.5px;left:377.125px;height:57.75px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Infrastructure (point of sale systems, accounting <br>and management systems) overhaul is complete and <br>positioned for expansion </font></p>

<p style='position:absolute;top:408px;left:377.125px;height:38.5px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Improved internal control structure and corporate <br>governance standards</font></p>

<p style='position:absolute;top:248.5px;left:377.125px;height:38.5px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Moved to single-line management model in <br>November 2003</font></p>

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<font style='font-family:"Times New Roman";font-size:10px;'>6</font></p>
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<p style='page-break-after:always;'>&nbsp;</p>


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<p style='position:absolute;top:0px;left:0px;'><img src="img007.jpg"></p>

<p style='position:absolute;top:13.0625px;left:24.5px;height:67.25px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Alderwoods Represents the Most Complementary <br>Acquisition Opportunity for SCI</font></p>

<p style='position:absolute;top:128.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Consistently conservative accounting policies </font></p>

<p style='position:absolute;top:154.5px;left:377.125px;height:38.5px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Disciplined approach to property divestitures and <br>acquisitions </font></p>

<p style='position:absolute;top:199.75px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Significantly improved processes and systems</font></p>

<p style='position:absolute;top:155.6875px;left:43px;height:38.5px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Conservatively Managed <br>Operations</b></font></p>

<p style='position:absolute;top:267.1875px;left:43.5px;height:38.5px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Healthy Cash Flow <br>Characteristics</b></font></p>

<p style='position:absolute;top:405.3125px;left:44px;height:19.25px;width:306px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Complementary Network</b></font></p>

<p style='position:absolute;top:255.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Strong operating cash flow generation </font></p>

<p style='position:absolute;top:281.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Debt pay down of over $460 million since 2001</font></p>

<p style='position:absolute;top:367.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Outstanding facilities in key markets </font></p>

<p style='position:absolute;top:393.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Offers SCI entry into new markets </font></p>

<p style='position:absolute;top:419.5px;left:377.125px;height:19.25px;width:454.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:20.7px;'>
<font style='font-family:"Times New Roman";font-size:14px;'>Rose Hills -&nbsp;&nbsp;premier combination facility in the U.S. </font></p>

<p style='position:absolute;top:441.6875px;left:405.75px;height:16.5px;width:418.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:17.25px;'>
<font style='font-family:"Times New Roman";font-size:12px;'>5,000 funerals and 9,000 interments per year</font></p>

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<font style='font-family:"Times New Roman";font-size:10px;'>7</font></p>
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<p style='page-break-after:always;'>&nbsp;</p>


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<p style='position:absolute;top:0px;left:0px;'><img src="img008.jpg"></p>

<p style='position:absolute;top:17.3125px;left:24.5px;height:57.5px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:24px;color:#FFFFFF;'>Combining the Two Premier Funeral and Cemetery Services <br>Providers in North America </font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>8</font></p>

<p style='position:absolute;top:116.0625px;left:393px;height:19.25px;width:191px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>FYE 2005</font></p>

<p style='position:absolute;top:538.4375px;left:83.375px;height:12px;width:464px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><sup>1</sup></font><font style='font-family:"Times New Roman";font-size:10px;'> Includes 183 combinations facilities at SCI and 60 at Alderwoods</font></p>

<p style='position:absolute;top:99.5625px;left:20px;height:12px;width:340.25px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><i>(Dollars in millions except per funeral amounts)</i></font></p>

<p style='position:absolute;top:147.25px;left:397.5px;height:18px;width:77.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>SCI</font></p>

<p style='position:absolute;top:147.25px;left:545.125px;height:18px;width:93.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>AWGI</font></p>

<p style='position:absolute;top:170.375px;left:120.625px;height:18px;width:114.875px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Revenue</font></p>

<p style='position:absolute;top:170.375px;left:404.375px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$1,716</font></p>

<p style='position:absolute;top:170.375px;left:579.75px;height:18px;width:88px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$749</font></p>

<p style='position:absolute;top:193.5px;left:120.625px;height:18px;width:138.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Gross profit</font></p>

<p style='position:absolute;top:193.5px;left:419.375px;height:18px;width:88px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$299</font></p>

<p style='position:absolute;top:193.5px;left:579.75px;height:18px;width:88px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$115</font></p>

<p style='position:absolute;top:216.5px;left:120.625px;height:18px;width:101px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Margin</font></p>

<p style='position:absolute;top:216.5px;left:429.75px;height:18px;width:85.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>17%</font></p>

<p style='position:absolute;top:216.5px;left:590px;height:18px;width:85.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>15%</font></p>

<p style='position:absolute;top:262.625px;left:120.625px;height:18px;width:224.75px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Comparable same site:</font></p>

<p style='position:absolute;top:285.75px;left:120.625px;height:18px;width:182.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;Funeral volume</font></p>

<p style='position:absolute;top:285.75px;left:395.125px;height:18px;width:112.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>238,813</font></p>

<p style='position:absolute;top:285.75px;left:365.125px;height:18px;width:76.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:285.75px;left:394px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:285.75px;left:555.5px;height:18px;width:112.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>113,300</font></p>

<p style='position:absolute;top:285.75px;left:515.125px;height:18px;width:86.75px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p style='position:absolute;top:285.75px;left:555.5px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:308.875px;left:120.625px;height:18px;width:218.375px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;Revenue per funeral</font></p>

<p style='position:absolute;top:308.875px;left:404.375px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$4,410</font></p>

<p style='position:absolute;top:308.875px;left:564.75px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$4,152</font></p>

<p style='position:absolute;top:355px;left:120.625px;height:18px;width:260.875px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Backlog of preneed revenue</font></p>

<p style='position:absolute;top:355px;left:404.375px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$5,303</font></p>

<p style='position:absolute;top:355px;left:564.75px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>$1,612</font></p>

<p style='position:absolute;top:401.125px;left:120.625px;height:18px;width:198.375px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'># of Funeral homes</font></p>

<p style='position:absolute;top:401.125px;left:413.625px;height:18px;width:93.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>1,058</font></p>

<p style='position:absolute;top:401.125px;left:365.125px;height:18px;width:92px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:401.125px;left:411.25px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:401.125px;left:589px;height:18px;width:78.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>654</font></p>

<p style='position:absolute;top:401.125px;left:515.125px;height:18px;width:113px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:401.125px;left:584.25px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:424.25px;left:120.625px;height:18px;width:172px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'># of Cemeteries</font></p>

<p style='position:absolute;top:424.25px;left:428.625px;height:18px;width:78.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>358</font></p>

<p style='position:absolute;top:424.25px;left:365.125px;height:18px;width:107.75px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:424.25px;left:428.625px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:424.25px;left:589px;height:18px;width:78.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>132</font></p>

<p style='position:absolute;top:424.25px;left:515.125px;height:18px;width:113px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:424.25px;left:584.25px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:448.5px;left:120.625px;height:18px;width:257.125px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp; Total operating locations</font></p>

<p style='position:absolute;top:443.8125px;left:334px;height:12px;width:65.375px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>(1)</font></p>

<p style='position:absolute;top:450.75px;left:413.625px;height:18px;width:93.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>1,416</font></p>

<p style='position:absolute;top:450.75px;left:365.125px;height:18px;width:92px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:450.75px;left:411.25px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:450.75px;left:589px;height:18px;width:78.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>786</font></p>

<p style='position:absolute;top:450.75px;left:515.125px;height:18px;width:113px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:450.75px;left:584.25px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:496.875px;left:120.625px;height:18px;width:257px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Employees - North America</font></p>

<p style='position:absolute;top:496.875px;left:404.375px;height:18px;width:103px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>15,400</font></p>

<p style='position:absolute;top:496.875px;left:365.125px;height:18px;width:81.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style='position:absolute;top:496.875px;left:399.75px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>

<p style='position:absolute;top:496.875px;left:574px;height:18px;width:93.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>8,300</font></p>

<p style='position:absolute;top:496.875px;left:515.125px;height:18px;width:102.5px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p style='position:absolute;top:496.875px;left:572.75px;height:18px;width:55.25px; text-align:left;padding: 0in 0in 0in 0in;'>
<font style='font-family:"Times New Roman";font-size:15px;'> </font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img009.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Significant Synergy Opportunities</font></p>

<p style='position:absolute;top:115.25px;left:74.625px;height:25px;width:696px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>We expect to realize approximately $60 - $70 million of annual synergies </font></p>

<p style='position:absolute;top:176.875px;left:115.625px;height:25px;width:685.375px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Duplicate Systems and Infrastructure </font></p>

<p style='position:absolute;top:203.75px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Full IT systems and infrastructure </font></p>

<p style='position:absolute;top:232.625px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Duplicate accounting, finance, legal and other systems </font></p>

<p style='position:absolute;top:292.375px;left:115.625px;height:25px;width:685.375px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Management Structure Duplication </font></p>

<p style='position:absolute;top:319.25px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Overlapping market management </font></p>

<p style='position:absolute;top:348.125px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Management span of control efficiencies </font></p>

<p style='position:absolute;top:407.875px;left:115.625px;height:25px;width:685.375px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Senior Executive and Public Company Costs </font></p>

<p style='position:absolute;top:434.75px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Two senior management teams </font></p>

<p style='position:absolute;top:463.625px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Two Boards of Directors </font></p>

<p style='position:absolute;top:492.5px;left:174.5px;height:25px;width:658.125px; text-align:left;padding: 0in 0in 0in 0in;line-height:26px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Two auditors and fees </font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>9</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img010.jpg"></p>

<p style='position:absolute;top:13.0625px;left:24.5px;height:67.25px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Alderwoods Meets SCI&#146;s Financial Criteria for <br>Evaluating Acquisitions</font></p>

<p style='position:absolute;top:137.8125px;left:-3px;height:19.25px;width:319px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Financial objectives</b></font></p>

<p style='position:absolute;top:187.8125px;left:49.125px;height:26px;width:782.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Purchase price discipline </font></p>

<p style='position:absolute;top:221.5625px;left:49.125px;height:78px;width:782.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Investment returns in excess <br>of weighted average cost of <br>capital </font></p>

<p style='position:absolute;top:307.3125px;left:49.125px;height:26px;width:782.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Increase operating cash flow </font></p>

<p style='position:absolute;top:341.0625px;left:49.125px;height:52px;width:782.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Prudent capital structure <br>management</font></p>

<p style='position:absolute;top:137.8125px;left:405px;height:19.25px;width:319px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>SCI/AWGI combination</b></font></p>

<p style='position:absolute;top:186.8125px;left:457.125px;height:104px;width:374.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>IRR estimated to be 250-300 <br>basis points in excess of SCI&#146;s <br>weighted average cost of <br>capital estimates </font></p>

<p style='position:absolute;top:298.5625px;left:457.125px;height:104px;width:374.25px; text-align:left;padding: 0in 0in 0in 0in;line-height:27px;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Immediately accretive to <br>operating cash flow, excluding <br>one-time implementation <br>costs</font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>10</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img011.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Estimated Purchase Price Multiples</font></p>

<p style='position:absolute;top:137.8125px;left:-3px;height:19.25px;width:360px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Alderwoods 2005 EBITDA</b></font></p>

<p style='position:absolute;top:198.8125px;left:29.75px;height:26px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Pre-tax income</font><font style='font-family:"Times New Roman";font-size:16px;'><sup>(1) </sup></font></p>

<p style='position:absolute;top:232.5625px;left:29.75px;height:26px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Interest expense </font></p>

<p style='position:absolute;top:266.3125px;left:29.75px;height:52px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Depreciation &amp; <br>amortization </font></p>

<p style='position:absolute;top:326.0625px;left:29.75px;height:26px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Alderwoods EBITDA </font></p>

<p style='position:absolute;top:359.8125px;left:29.75px;height:52px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Estimated run rate of <br>synergies </font></p>

<p style='position:absolute;top:419.5625px;left:29.75px;height:26px;width:245.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Adjusted EBITDA</font></p>

<p style='position:absolute;top:194.8125px;left:174.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>$30</font></p>

<p style='position:absolute;top:229.8125px;left:174.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>30 </font></p>

<p style='position:absolute;top:280.8125px;left:174.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>45 </font></p>

<p style='position:absolute;top:322.8125px;left:174.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>105 </font></p>

<p style='position:absolute;top:371.8125px;left:173.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>65 </font></p>

<p style='position:absolute;top:415.8125px;left:173.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>$170 </font></p>

<p style='position:absolute;top:137.8125px;left:370px;height:19.25px;width:360px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>Purchase price</b></font></p>

<p style='position:absolute;top:198.8125px;left:402.75px;height:26px;width:255.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Cost of equity </font></p>

<p style='position:absolute;top:232.5625px;left:402.75px;height:26px;width:255.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Enterprise value </font></p>

<p style='position:absolute;top:333.8125px;left:402.75px;height:52px;width:255.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Pre-synergy purchase <br>price multiple </font></p>

<p style='position:absolute;top:393.5625px;left:402.75px;height:52px;width:255.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Post-synergy purchase <br>price multiple </font></p>

<p style='position:absolute;top:453.3125px;left:402.75px;height:52px;width:255.25px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>Current SCI trading <br>multiple</font></p>

<p style='position:absolute;top:194.8125px;left:547.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>$856 </font></p>

<p style='position:absolute;top:229.8125px;left:547.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>$1,230 </font></p>

<p style='position:absolute;top:360.8125px;left:546.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>11.7x</font></p>

<p style='position:absolute;top:418.8125px;left:545.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>7.2x </font></p>

<p style='position:absolute;top:472.8125px;left:545.75px;height:26px;width:152.25px; text-align:right;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;'>10.5x </font></p>

<p style='position:absolute;top:171.4375px;left:252px;height:14.375px;width:134px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>($ millions)</font></p>

<p style='position:absolute;top:172.4375px;left:626px;height:14.375px;width:134px; text-align:left;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:12px;'>($ millions)</font></p>

<p style='position:absolute;top:527.4375px;left:28.375px;height:24px;width:651px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><sup>1 </sup></font><font style='font-family:"Times New Roman";font-size:10px;'>Excludes one-time $11 million add-back to SG&amp;A related to the recovery of a corporate receivable previously fully
<br>reserved against</font></p>

<p style='position:absolute;top:304.8125px;left:372px;height:19.25px;width:360px; text-align:center;padding: 0in 0.05in 0in 0.05in;'>
<font style='font-family:"Times New Roman";font-size:16px;color:#FFFFFF;'><b>2005 EBITDA Multiples</b></font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>11</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img012.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Selected Pro Forma Financial Information</font></p>

<p style='position:absolute;top:113.8125px;left:61px;height:65px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:34.5px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>The combined company would have revenues of approximately $2.5 <br>billion (based on 2005 financial results) </font></p>

<p style='position:absolute;top:187.4375px;left:61px;height:97.5px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:34.5px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>The combined company would have approximately $470 million of EBITDA <br>(based on 2005 financial results), which includes $65 million of pre-tax <br>cost savings to be achieved within 12 - 18 months
of closing</font><font style='font-family:"Times New Roman";font-size:18px;'><sup>(1) </sup></font></p>

<p style='position:absolute;top:293.5625px;left:61px;height:97.5px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:34.5px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>With full realization of synergies, the Company expects to generate <br>annualized cash flow from operations of approximately $400 million <br>(excluding one-time implementation costs) </font></p>

<p style='position:absolute;top:515.4375px;left:49.375px;height:12px;width:651px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:10px;'><sup>1</sup></font><font style='font-family:"Times New Roman";font-size:10px;'> Excludes one-time implementation costs&nbsp;&nbsp;</font></p>

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<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>12</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img013.jpg"></p>

<p style='position:absolute;top:28.0625px;left:24.5px;height:38.375px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:32px;color:#FFFFFF;'>Target Financial Ratios</font></p>

<p style='position:absolute;top:205.125px;left:54.75px;height:18px;width:345.125px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'><u><b>Ratio</b></u></font></p>

<p style='position:absolute;top:239.5px;left:500.375px;height:18px;width:186.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>2.0x</font></p>

<p style='position:absolute;top:239.5px;left:324.875px;height:18px;width:182.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;color:#FFFFFF;'><b>&gt;1.5x</b></font></p>

<p style='position:absolute;top:239.5px;left:54.75px;height:36px;width:345.125px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Operating cash flow less certain <br>capex/Interest Expense</font></p>

<p style='position:absolute;top:302.25px;left:500.375px;height:18px;width:186.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>6.2x</font></p>

<p style='position:absolute;top:302.25px;left:324.875px;height:18px;width:182.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;color:#FFFFFF;'><b>5x to 7x</b></font></p>

<p style='position:absolute;top:302.25px;left:54.75px;height:36px;width:345.125px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Net Debt/Operating cash flow less <br>certain capex</font></p>

<p style='position:absolute;top:364.875px;left:500.375px;height:18px;width:186.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>45%</font></p>

<p style='position:absolute;top:364.875px;left:324.875px;height:18px;width:182.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;color:#FFFFFF;'><b>40% to 45%</b></font></p>

<p style='position:absolute;top:364.875px;left:54.75px;height:18px;width:345.125px; text-align:left;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Net Debt/Total Net Capital</font></p>

<p style='position:absolute;top:179.5px;left:324.875px;height:18px;width:182.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>Target Ratios</font></p>

<p style='position:absolute;top:179.5px;left:500.375px;height:18px;width:186.375px; text-align:center;padding: 0in 0.11in 0in 0.11in;'>
<font style='font-family:"Times New Roman";font-size:15px;'>2008E</font></p>

<!-- Page Number --><!-- Page Number -->
<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>13</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img014.jpg"></p>

<p style='position:absolute;top:29.8125px;left:24.5px;height:33.625px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:28px;color:#FFFFFF;'>Transaction Funding</font></p>

<p style='position:absolute;top:130.3125px;left:61px;height:28.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:29.9px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>Current SCI cash balance of approximately $470 million </font></p>

<p style='position:absolute;top:167.0625px;left:61px;height:28.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:29.9px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>$850 million committed bridge financing from JPMorgan </font></p>

<p style='position:absolute;top:203.8125px;left:61px;height:56.25px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:29.9px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>Optimal mix of permanent financing to be evaluated to ensure appropriate <br>liquidity and minimize financing costs </font></p>

<p style='position:absolute;top:268.6875px;left:61px;height:28.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:29.9px;'>
<font style='font-family:"Times New Roman";font-size:18px;'>On-going dialogue with rating agencies regarding capital structure </font></p>

<!-- Page Number --><!-- Page Number -->
<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>14</font></p>
</div>

<p style='page-break-after:always;'>&nbsp;</p>


<div STYLE='position:relative;left:0;top:0;height:623.85px;width:765.875'>

<p style='position:absolute;top:0px;left:0px;'><img src="img015.jpg"></p>

<p style='position:absolute;top:28.0625px;left:24.5px;height:38.375px;width:776.5px; text-align:left;padding: 0in 0in 0in 0.08in;'>
<font style='font-family:"Times New Roman";font-size:32px;color:#FFFFFF;'>Transaction Summary</font></p>

<p style='position:absolute;top:123.4375px;left:61px;height:43.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:45px;'>
<font style='font-family:"Times New Roman";font-size:24px;'>Compelling strategic fit </font></p>

<p style='position:absolute;top:178.0625px;left:61px;height:86.25px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:45px;'>
<font style='font-family:"Times New Roman";font-size:24px;'>Scale and scope generating substantial operating <br>synergies and cost savings </font></p>

<p style='position:absolute;top:275.8125px;left:61px;height:43.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:45px;'>
<font style='font-family:"Times New Roman";font-size:24px;'>Accretive to operating cash flow and earnings </font></p>

<p style='position:absolute;top:330.4375px;left:61px;height:43.125px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:45px;'>
<font style='font-family:"Times New Roman";font-size:24px;'>Customer focus and enhanced service </font></p>

<p style='position:absolute;top:385.0625px;left:61px;height:86.25px;width:770.375px; text-align:left;padding: 0in 0in 0in 0in;line-height:45px;'>
<font style='font-family:"Times New Roman";font-size:24px;'>SCI and Alderwoods together&nbsp;&nbsp;=&nbsp;&nbsp;Creating Shareholder <br>Value</font></p>

<!-- Page Number --><!-- Page Number -->
<p style='position:absolute;top:554.0625px;left:714px;height:12px;width:87px; text-align:left;padding: 0in 0.1in 0in 0.1in;'>
<font style='font-family:"Times New Roman";font-size:10px;'>15</font></p>
</div>


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`
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`
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
