OTHER NEWS - Oct. 3, 1996

Service Corp. Sweetens Bid for Loewen Group: Houston-based Service Corp. International said it will offer nearly $2.72 billion in stock for rival funeral home operator Loewen Group Inc., just under $45 for each Loewen common share. Service Corp. said it will take its offer offer directly to Loewen shareholders. The new bid follows Loewen’s rejection of a $2.5-billion offer announced Sept. 17, which valued Loewen shares at $43 each. Loewen shares closed at $41.125, down 93 cents, on the New York Stock Exchange. British Columbia-based Loewen initially urged its shareholders in a news release to take no action until it reviewed the new offer, but the company later said that statement was released in error. In a second statement, Loewen said only that it would respond “in due course” and did not make any recommendation to shareholders.