Lowey Dannenberg Bemporad & Selinger, P.C. Files Securities Class Action Against Service Corporation International and Certain Of Its Officers and Directors.

White Plains, N.Y.--(BUSINESS WIRE)--Feb. 8, 1999--The following is an annoucement by Lowey Dannenberg Bemporad & Selinger:

On February 5, 1999, a class action lawsuit was filed in the United States District Court for the Southern District of Texas, on behalf of all persons who purchased or otherwise acquired the common stock of Service Corp. International (NYSE:SRV) ("Service Corp." or the "Company") between July 23, 1998 and January 26, 1999, inclusive (the "Class Period").

The complaint charges Service Corp. and certain officers and directors of the Company during the relevant time period with violations the Securities Exchange Act of 1934 by, among other things, issuing false and misleading statements concerning Service Corp.'s business, performance, and continued substantial growth of Service Corp., its financial results and business operations. Plaintiff further alleges that, due to the issuance of these false and misleading statements, the price of Service Corp. common stock was artificially inflated during the Class Period.

On January 26, 1999, the Company announced that fourth-quarter and year-end revenues and earnings would drop dramatically below anticipated results. As a result, the stock price dropped from $34-7/16 to close at $19 on extraordinarily high volume.

Plaintiff seeks to recover damages and other relief on behalf of all class members. Plaintiff is represented by the law firm of Lowey Dannenberg Bemporad & Selinger, P.C., of White Plains, N.Y. a firm with extensive experience prosecuting class actions on behalf of shareholders. For more information about Lowey Dannenberg Bemporad & Selinger, P.C., please visit our website at www.ldbs.com.

Any member of the proposed class may move the Court to serve as lead plaintiff no later than March 26, 1999. In order to serve as lead plaintiff, you must meet certain legal requirements.

If you wish to discuss this action, serve as lead plaintiff, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact: David C. Harrison, Esq. at LOWEY DANNENBERG BEMPORAD & SELINGER, P.C., The Gateway, One North Lexington Avenue, White Plains, New York 10601, [phone], E-mail: [e-mail].