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SERVICE CORPORATION INTERNATIONAL RECEIVES APPROVAL TO PROCEED WITH AUSTRALIAN ACQUISITION

 HOUSTON, July 21 /PRNewswire/ -- Service Corporation International (SCI) (NYSE: SRV) announced today that the Australian Foreign Investment Review Board has approved SCI's proposed acquisition of Pine Grove Funeral Group (Pine Grove). Closing of this transaction is expected by Aug. 31, 1993.
 Headquartered in Sydney, Australia, Pine Grove is the largest funeral and cremation services provider in Australia. The company owns and operates 58 funeral homes and eight cemetery/crematoria operations, all located in the five metropolitan centers of Sydney, Brisbane, Adelaide, Melbourne and Perth. The acquisition is expected to add $32 million to SCI's annual revenue.
 Service Corporation International is the largest owner and operator of funeral homes and cemeteries in the world, with 696 funeral homes and 176 cemetery operations serving 531 cities in 39 states, the District of Columbia and four Canadian provinces. SCI's stock is traded on the New York Stock Exchange. The company's ticker symbol is SRV.
 -0- 7/21/93
 /CONTACT: Bill Barrett, 713-525-5497, or George Champagne, 713-525-5546, both of Service Corporation International/
 (SRV)


CO: Service Corporation International ST: Texas IN: SU: TNM

LD -- NY096 -- 4128 07/21/93 16:24 EDT
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Publication:PR Newswire
Date:Jul 21, 1993
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