Keystone North America Inc. announces July dividend



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

    TORONTO, July 22 /CNW/ - Keystone North America Inc. ("KNA") today
announced that a cash dividend of C$0.07 per common share (TSX: KNA) will be
payable on August 15, 2008 to holders of record at the close of business on
July 31, 2008, for the period beginning July 1, 2008 and ending July 31, 2008.
KNA designates the dividend paid on its common shares (including the dividend
paid on the common shares represented by income participating security ("IPS")
to be an "eligible dividend" pursuant to subsection 89(14) of the Income Tax
Act (Canada) and its equivalent in any provinces of Canada.
    IPS (TSX: KNA.UN) holders of record at the close of business on July 31,
2008, will be entitled to a payment of C$0.380735 per IPS on August 15, 2008,
for the period beginning July 1, 2008 and ending July 31, 2008, reflecting:
(i) a cash dividend of C$0.07 per common share; and (ii) an interest payment
of C$0.310735 per C$25.716 aggregate principal amount of 14.5% subordinated
notes of KNA.
    KNA's policy is for holders of common shares of record on the last
business day of a calendar month to receive dividend payments on the fifteenth
day (or the next business day if such day is not a business day) of the next
calendar month.

    KNA, through its subsidiaries, is a leading owner and operator of funeral
homes across the United States. KNA owns and operates funeral homes and
cemeteries across the United States and the province of Ontario, making it, in
management's estimate, the fifth largest funeral home operator in North
America.

    Forward-Looking Statement

    This press release may contain forward-looking statements relating to
expected future events and financial and operating results of KNA that involve
risks and uncertainties. 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. 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 KNA's Annual Information
Form dated March 27, 2008 and the final short form prospectus dated April 14,
2008, which are incorporated herein by reference. However, the risk factors
set out therein are not exhaustive of the factors that may affect any of KNA'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 KNA operates in, interest rates,
exchange rates and tax considerations may prove to be incorrect. Further
information regarding these and other factors is included in KNA's public
filings with Canadian securities regulatory authorities. Due to the potential
impact of these factors, KNA disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless required by applicable law.

    %SEDAR: 00021578E




For further information:

For further information: Steven Tidwell, Chief Executive Officer, (813)
225-4653 or stidwell@keystonegroup.com; Stephen Shaffer, Chief Financial
Officer, (813) 225-4654 or sshaffer@keystonegroup.com or visit our investor
website at www.keystonenorthamerica.ca

Organization Profile

KEYSTONE NORTH AMERICA INC.

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