updated 1/31/2011 6:46:04 AM ET 2011-01-31T11:46:04

LEVITTOWN, Pa., Jan. 31, 2011 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (Nasdaq:STON) ("StoneMor") announced today a public offering, subject to market and other conditions, of 4,649,366 common units representing limited partner interests in StoneMor. Of the 4,649,366 common units offered, StoneMor is selling 2,800,000 common units and certain unitholders are selling 1,849,366 common units. In connection with the offering, StoneMor expects to grant the underwriters a 30-day option to purchase up to 697,404 additional common units to cover over-allotments, if any. StoneMor intends to use the net proceeds from the common units it is offering and the related capital contribution by its general partner: (1) to redeem in full outstanding 12.5% Series B and 12.5% Series C senior secured notes due August 2012 and pay an aggregate make-whole premium related thereto; (2) to prepay the borrowings outstanding under its existing acquisition credit facility; (3) to pay down the borrowings outstanding under its existing revolving credit facility; and (4) to fund capital improvements or for general partnership purposes. StoneMor will not receive any proceeds from the sale of common units by the selling unitholders. If the underwriters exercise their option to purchase additional common units, StoneMor will use the additional net proceeds and related capital contribution by its general partner to fund capital improvements or for general partnership purposes. 

The common units will be offered and sold pursuant to an effective shelf registration statement on Form S-3. The offering may be made only by means of a prospectus supplement, which will be filed with the Securities and Exchange Commission (the "SEC"), and the related base prospectus. Raymond James and Barclays Capital are serving as bookrunners of the offering, and Baird and Janney Montgomery Scott are acting as co-managing underwriters of the offering. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. 

A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716 or by telephone at (727) 567-2400; or Barclays Capital Inc. at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847 or by email at barclaysprospectus@broadridge.com.

About StoneMor Partners L.P.

StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 260 cemeteries and 58 funeral homes. StoneMor is the only publicly traded deathcare company structured as a partnership. StoneMor's cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. 

For additional information about StoneMor Partners L.P., please visit StoneMor's website, and the Investor Relations section, at http://www.stonemor.com .

Forward-Looking Statements

Certain statements contained in this press release, including, but not limited to, information regarding the status and progress of StoneMor's operating activities, the plans and objectives of its management, assumptions regarding its future performance and plans, and any financial guidance provided, as well as certain information in other filings with the SEC and elsewhere, are forward-looking statements. The words "believe," "may," "will," "estimate," "continues," "anticipate," "intend," "project," "expect," "predict," and similar expressions identify these forward-looking statements. These forward-looking statements are made subject to certain risks and uncertainties that could cause StoneMor's actual results of operations to differ materially from those expressed or implied by forward-looking statements, including, but not limited to, the following: uncertainties associated with future revenue and revenue growth; the effect of the current economic downturn; the impact of StoneMor's significant leverage on its operating plans; StoneMor's ability to service its debt and pay distributions; the decline in the fair value of certain equity and debt securities held in its trusts; StoneMor's ability to attract, train and retain an adequate number of sales people; uncertainties associated with the volume and timing of pre-need sales of cemetery services and products; increased use of cremation; changes in the political or regulatory environments, including potential changes in tax accounting and trusting policies; StoneMor's ability to successfully implement a strategic plan relating to operating improvement, strong cash flows and further deleveraging; uncertainties associated with the integration or the anticipated benefits of StoneMor's recent acquisitions and any future acquisitions; StoneMor's ability to complete and fund additional acquisitions; and various other uncertainties associated with the death care industry and StoneMor's operations in particular. 

When considering forward-looking statements, keep in mind the risk factors and other cautionary statements set forth in StoneMor's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q filed with the SEC. Except as required under applicable law, StoneMor assumes no obligation to update or revise any forward-looking statements made herein or any other forward-looking statements made by StoneMor, whether as a result of new information, future events, or otherwise. 

CONTACT: Tim Yost (215) 826-2800

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