StoneMor Partners L.P. Prices Upsized Public Offering Of 1,500,000 Common Units

LEVITTOWN, Pa., Sept. 16, 2010 (GLOBE NEWSWIRE) -- StoneMor Partners L.P. (Nasdaq:STON) ("StoneMor") announced today that it has priced 1,500,000 common units representing limited partner interests in StoneMor at a price to the public of $24.00 per unit. The offering was increased from the previously announced level by 278,000 common units. StoneMor expects the offering to close on September 22, 2010, subject to customary closing conditions and as described below. StoneMor expects to receive net proceeds of approximately $34.3 million, after deducting the underwriting discount and offering expenses in connection with this offering and including the general partner's proportionate capital contribution. StoneMor has granted the underwriter a 30-day option to purchase up to 225,000 additional common units to cover over-allotments, if any.

StoneMor intends to use the net proceeds from the common units offering and the related capital contribution by its general partner to prepay a portion of the borrowings outstanding under its existing acquisition credit facility and pay down a portion of the borrowings outstanding under its existing revolving credit facility. If the underwriter exercises its option to purchase additional common units, StoneMor will use the additional net proceeds and related capital contribution by its general partner to pay down an additional portion of the borrowings outstanding under its existing revolving credit facility.

The common units are being offered and sold pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"). The offering may be made only by means of a prospectus supplement, filed with the SEC, and the related base prospectus. Raymond James is the sole underwriter of the common units.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.