/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, Nov. 12 /CNW/ - Robert G. (Bob) Horn today announced his pending
retirement from his positions as Chairman of the Board and as a Board Member
on the boards of Keystone North America, Inc., Keystone Newport ULC and
Keystone Group Holdings, Inc. (collectively, the "Company" TSX: KNA.UN),
effective upon the expiration of his employment agreement on February 8, 2008.
Mr. Horn co-founded the Company in late 1996, and served as the Company's
initial Chief Executive Officer and its President, as well as serving on its
Board of Directors since 1996. Mr. Horn led the Company's successful initial
public offering of income participating securities in February 2005.
"I am most appreciative of the support and opportunities provided by my
co-founder partners, the Company's Directors, and the 1,000 plus Company
employees," Mr. Horn stated. "They are responsible for my accomplishments."
Mr. Horn stated that he plans to remain visible within the deathcare
industry by continuing to serve as a Trustee on the Board of the Funeral
Service Foundation, a non-profit organization which benefits the entire
deathcare industry. Mr. Horn has also served previously as Chairman of the
Keystone North America Inc. owns a 98.2% interest in Keystone Group
Holdings, Inc., the fifth largest provider of funeral services in North
America with 216 funeral homes and 16 cemeteries. The Company is structured so
that a majority of its free cash flows from operations are distributed to
holders of its IPS units with a portion of such distributions being interest
payments on the subordinated debt component.
This news release may be interpreted to contain forward-looking
statements. Such statements involve known and unknown risks, uncertainties and
other factors outside of management's control that could cause actual results
to differ materially from those described in the forward-looking statements.
The Company does not assume responsibility for the accuracy and completeness
of those forward-looking statements and does not undertake the obligation to
publicly revise these forward-looking statements to reflect subsequent events
For further information:
For further information: Steven Tidwell, Chief Executive Officer, or
Stephen M. Shaffer, Chief Financial Officer, telephone (813) 225-4650 or via
email at email@example.com or firstname.lastname@example.org; additional
information can also be located at our investor website