Release Details

HOUSTON, May 9, 2007 /PRNewswire via COMTEX News Network/ -- In the news release, Carriage Services (NYSE: CSV) Reports First Quarter 2007 Results, issued yesterday, May 9, by Carriage Services, Inc. over PR Newswire, we are advised by a representative of the company that the Cash Flow paragraph, should read:

Cash Flow

"Free cash flow deficit of $(0.2) million for the three months ended March 31, 2007 was essentially flat compared to the same period in 2006. During the first quarter, semiannual interest of $50 million on the Company's Senior Notes and annual incentive compensation are paid. A significant use of cash during the current year period related to a $1.4 million long-term incentive payment to one of the Company's directors, who is a former owner of businesses that Carriage acquired in 1997. Additionally, cash used for capital expenditures was approximately $1.0 million higher year over year" rather than ...

Cash Flow

"Free cash flow deficit for the three months ended March 31, 2007 was $(3.8) million compared to $(0.2) million for the same period in 2006. During the first and third quarter the semiannual interest on the Company's Senior Notes are paid. A significant portion of the increase in cash used in operations related to a $1.4 million long-term incentive payment to one of the Company's directors, who is a former owner of businesses that Carriage acquired in 1997. Additionally, cash used for capital expenditures was approximately $1.0 million higher year over year. Uses of working capital, which we expect to be neutral over the entire year, accounted for the remainder" and the Reconciliation of Non-GAAP Financial Measures Continued table should read:

Reconciliation of cash provided by (used in) operating activities from continuing operations to free cash flow (in 000's):

                                                  Three months   Three months
                                                      ended         ended
                                                   03/31/2006     03/31/2007
    Cash provided by (used in) operating
     activities from continuing operations             $921        $1,945
    Less capital expenditures from
     continuing operations                           (1,116)       (2,169)
    Free cash flow deficit from
     continuing operations                            $(195)        $(244)

rather than...

Reconciliation of cash provided by (used in) operating activities from continuing operations to free cash flow (in 000's):

                                                  Three months   Three months
                                                      ended         ended
                                                   03/31/2006     03/31/2007
    Cash provided by (used in) operating
     activities from continuing operations             $921       $(1,628)
    Less capital expenditures from
     continuing operations                           (1,116)       (2,169)
    Free cash flow deficit from
     continuing operations                            $(195)      $(3,797)

as originally issued inadvertently.

SOURCE Carriage Services, Inc.

Mel Payne, Chairman & CEO, or Joe Saporito, CFO, both of Carriage Services, Inc.,
+1-713-332-8400; or Ken Dennard, ksdennard@drg-e.com , or Lisa Elliott,
lelliott@drg-e.com , both of DRG&E, +1-713-529-6600, for Carriage Services, Inc.

http://www.carriageservices.com

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