SOURCE: StoneMor Partners L.P.

October 17, 2008 10:00 ET

StoneMor Partners L.P. Declares 3.7% Increase in Cash Distribution and Announces That It Will Hold Investors' Conference Call for Third Quarter 2008 Financial Results

LEVITTOWN, PA--(Marketwire - October 17, 2008) - StoneMor Partners L.P. (NASDAQ: STON) announced today that it has declared a cash distribution of $0.5550 per unit, payable on November 3, 2008, to common and subordinated unit holders of record as of the close of business on October 27, 2008. This distribution represents a 3.7% increase over last quarter.

Lawrence Miller, President and CEO, commented, "StoneMor has increased its cash distribution by 18.9 % since the third quarter of 2005. We are pleased to be able to continue to provide our unit holders with a consistent and predictable income stream from our cash flow. Our business remains strong, and despite the turmoil in the financial markets, our cash flow remains high. Today's announcement underscores that. It is our intention to continue to increase our distributions in the future, while we continue to evaluate additional potential accretive acquisitions."

StoneMor plans to hold an investors' conference call to review its third quarter 2008 results (which will be released before this call) on Monday, November 10, 2008, at 10:00 a.m. Eastern Time. The conference call can be accessed by calling (888) 662-9069. An audio replay of the conference call will be available by calling (800) 633-8284 through 12:00 p.m. Eastern Time on November 24, 2008. The reservation number for the audio replay is as follows: 21397025. The audio replay of the conference call will also be archived on StoneMor's website at http://www.stonemor.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 230 cemeteries and 59 funeral homes in 27 states plus Puerto Rico. 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 our operating activities, the plans and objectives of our management, assumptions regarding our 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 within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "believe," "may," "will," "estimate," "continue," "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 actual results to differ materially from those stated, including, but not limited to, the following: uncertainties associated with future revenue and revenue growth; the impact of our significant leverage on our operating plans; the ability of us to service our debt; our 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; variances in death rates; variances in the use of cremation; changes in the political or regulatory environments, including potential changes in tax accounting and trusting policies; our ability to successfully implement a strategic plan relating to producing operating improvement, strong cash flows and further deleveraging; uncertainties associated with the integration or the anticipated benefits of our acquisitions and various other uncertainties associated with the death care industry and our operations in particular.

When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements set forth in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q filed with the SEC. We assume no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.

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