Keystone North America Inc. non-cash rights offering expiring today

    /NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
    SERVICES/

    TORONTO, May 15 /CNW/ - Keystone North America Inc. (the "Company" or
"Keystone") reminds shareholders, including holders of income participating
securities (IPSs), that the Company's previously announced non-cash rights
offering expires at 5:00 p.m. (Eastern Time) today, May 15, 2008.
    While the actual number of rights exercised will not be known until
5:00 p.m. (Eastern Time) today, based on investor feedback received to date,
Keystone expects that the minimum condition will be easily met and that the
offering will have a high level of participation. Shareholders are urged to
contact their broker or financial advisor (CDS participant) immediately.
    If a shareholder does not exercise all of its rights, then the
shareholder may experience material dilution and receive lower annual cash
distributions. Rights not exercised before the expiry date will be void and
have no value.
    Keystone has engaged BMO Capital Markets to act as financial advisor and
dealer manager, and to solicit the exercise of the rights. Enquiries can be
addressed to any of the following sources:

    BMO Capital Markets
    Via the Keystone non-cash rights offering enquiries line
    1 [phone]

    Keystone North America Inc.
    By contacting the secretary of Keystone
    1 [phone]

    Georgeson Shareholder Communications Canada, Inc.
    1 [phone]

    Further details concerning the non-cash rights offering and the
procedures to be followed by holders to exercise their rights are contained in
the final short form prospectus. Copies of the final short form prospectus may
be obtained from the dealer manager upon request and are available under the
Company's name at www.sedar.com.FORWARD LOOKING INFORMATIONCertain statements in this news release are "forward-looking statements",
which reflect the expectations of management regarding the Company's future
growth, results of operations, performance and business prospects and
opportunities. Wherever possible, words such as "plans", "expects" or "does
not expect", "forecasts", "anticipates" or "does not anticipate", "believes",
"intends" and similar expressions or statements that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved have been used to identify these forward-looking statements. These
forward-looking statements reflect management's current reasonable
expectations regarding future events and operating performance and speak only
as of the date of this news release. Forward-looking statements involve
significant risks and uncertainties, should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether or not or the times at or by which such performance or
results will be achieved. A number of factors could cause actual results to
differ materially from the results discussed in the forward-looking statements
including, among others, those factors set out in the "Risk Factors" sections
of the Company's Annual Information Form dated March 27, 2008 and the final
short form prospectus dated April 14, 2008, which risk factors are
incorporated herein by reference. However, the risk factors set out therein
are not exhaustive of the factors that may affect any of the Company's
forward-looking statements. Although the forward-looking statements contained
in this news release are based upon what management believes to be reasonable
assumptions, investors cannot be assured that actual results will be
consistent with these forward-looking statements, and the differences may be
material. These assumptions, which include, management's current expectations,
estimates and assumptions about the markets the Company operates in, mix of
funeral services, interest rates, exchange rates, tax considerations and the
Company's ability to attract and retain customers and to manage its assets and
operating costs, may prove to be incorrect. Further information regarding
these and other factors is included in the Company's public filings with
Canadian securities regulatory authorities. These forward-looking statements
are made as of the date of this news release and, except as otherwise required
by law, the Company assumes no obligation to update or revise them to reflect
new events or circumstances.

For further information: Steven A. Tidwell, Chief Executive Officer,
[phone], [e-mail]; Stephen Shaffer, Chief Financial
Officer, [phone], [e-mail]; or please visit our
investor website at http://www.keystonenorthamerica.ca