Alderwoods Group Sets Date of First Quarter Fiscal 2006 Earnings Release and Conference Call

Alderwoods Group, Inc. (NASDAQ: AWGI) today announced that it intends to release its first quarter financial results for fiscal 2006 after market close on Monday, May 1, 2006. Alderwoods Group will host a conference call on Tuesday, May 2, 2006 to review its financial results at 11:00 a.m. eastern time.

To participate in the conference call, please dial in approximately 5 minutes ahead of time to one of the following numbers:

- Toll-free number for participants dialing from inside the United States or Canada is 1.800.289.6406.

- The local number for participants calling from outside the United States or Canada is 1.416.641.6440.

Interested parties may listen to the audio webcast via the Alderwoods Group website at http://www.alderwoods.com.

Replays of the conference call will be available in two formats following the completion of the conference call. A telephone replay will be accessible until May 16, 2006, by dialing 1.800.558.5253 or 1.416.626.4100 and quoting reservation number 21290579. An archived replay of the webcast will also be available through the Alderwoods Group website at http://www.alderwoods.com.

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