Family Memorials Announces 2nd Quarter Fiscal 2008 Financial Results

Record second quarter sales of $802,000 and booked sales of $600,000, represented an increase of 13.5% over second quarter 2007 sales of $706,300. Sales of $866,200 for the six months ended June 30, 2008 also represented a record and increase of 13.9% relative to the six months ended June 30, 2007.

Expense reductions of 17% for the second quarter and 21.8% for the six months ended June 30, 2008 met management expectations and contributed to posting a second quarter loss of $52,300 compared to a loss of $158,500 for the second quarter of 2007.

Scott Kellaway, President and CEO said "Our expense reduction initiatives along with increased sales are enabling us to meet our targets and this will continue to be the focus of the company going forward."

About Family Memorials

The Corporation is in the business of consolidating retail businesses selling granite monuments for placement on individual cemetery lots. Family Memorials Inc. has seven Canadian sales outlets. Family Memorials carries on business through its wholly-owned subsidiaries Grajack Industries Ltd. in Belleville, Ontario; R.H. Verduyn Granite Co. Ltd., in Peterborough, Ontario; Barber Monuments Ltd. in St. Catharines, Ontario; and Somerville Memorials Ltd. in Calgary, Alberta; and under the Family Memorials banner in Brandon, Manitoba, and Regina, Saskatchewan, and in Swan River, Manitoba through its exclusive agent, Heritage Memorial Gardens.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Website: www.family-memorials.ca