Family Memorials Inc.
TSX VENTURE : FAM

Family Memorials Inc.

March 08, 2007 18:09 ET

Family Memorials Signs Letter of Intent to Acquire Barber Monuments Limited

THUNDER BAY, ONTARIO--(CCNMatthews - March 8, 2007) - Family Memorials Inc. (TSX VENTURE:FAM) is pleased to announce that it has signed a letter of intent with Mr. Donald Barber to purchase all of the shares of Barber Monuments Limited.

Barber Monuments Limited prepares and sells monuments, grave stones and markers in and around the City of St. Catharines, Ontario. In its 2006 fiscal year 2006, Barber Monuments Limited had revenues of $430,000.00.

The Letter of Intent is subject to both parties completing an Agreement of Purchase and Sale. The initial terms outlined in the Letter of Intent stipulate a closing date of April 30th, 2007 at a purchase price of $305,000.00 for all shares of Barber Monuments Limited.

Upon completion of this acquisition, Family Memorials Inc. will own and operate seven monument retail outlets across Canada. There are over 250 independent monument retail operations in Canada at the present time. Family Memorials Inc. has identified and had discussions with many of these companies regarding future acquisition. Family Memorials Inc. has developed an aggressive acquisition plan for 2007. Details of additional acquisitions will be released as letters of intent are signed.

About Family Memorials Inc.

Family Memorials Inc. is a monument company, carrying on the retail business of selling granite monuments for placement on individual cemetery lots. The Corporation carries on business through its wholly-owned subsidiaries Grajack Industries Ltd. in Belleville, Ontario, Somerville Memorials Ltd. in Calgary, Alberta, and Verduyn Granite Ltd., in Peterborough, Ontario and owns and operates retail memorials sales operations under the Family Memorials banner in Brandon, Manitoba, Regina, Saskatchewan, and Calgary, Alberta, and through an agent in Swan River, Manitoba.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release

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