Exhibit 99.1

ALDERWOODS GROUP REPORTS SECOND QUARTER RESULTS

CINCINNATI, OHIO — July 19, 2006 —

Alderwoods Group, Inc. (NASDAQ:AWGI) today announced its second quarter and year-to-date results, representing the 12 weeks and 24 weeks ended June 17, 2006.

For the 12 weeks ended June 17, 2006, the Company reported net income of $0.2 million, or $0.00 basic and diluted earnings per share on revenues of $172.4 million, compared with total net income of $12.1 million, or $0.30 basic and $0.29 diluted earnings per share, on revenues of $176.8 million for the 12 weeks ended June 18, 2005.

Highlights of the Second Quarter

·                  Revenue decreased 2.4% to $172.4 million

·                  Number of same site funeral services performed declined 3.2% to 25,082

·                  Same site average revenue per funeral increased 3.2% to $4,278

·                  Funeral revenue decreased 2.8% to $107.5 million

·                  Cemetery revenue decreased 5.4% to $41.5 million

·                  Insurance revenue increased 4.7% to $23.4 million

·                  Net income decreased to $0.2 million

·                  Pre-need funeral contracts written decreased 4.9% to $44.7 million

·                  Pre-need cemetery contracts written decreased 3.2% to $24.0 million

·                  Total debt decreased by $5.5 million in the quarter

For the 24 weeks ended June 17, 2006, the Company reported total net income of $4.7 million, or $0.12 basic and $0.11 diluted earnings per share, on revenues of $354.3 million, compared with total net income of $25.2 million, or $0.63 basic and $0.61 diluted earnings per share, on revenues of $360.7 million, for the 24 weeks ended June 18, 2005.

Highlights of the Year-to-Date Operations

·                  Revenue decreased 1.8% to $354.3 million

·                  Number of same site funeral services performed declined 3.6% to 53,070

·                  Same site average revenue per funeral increased 3.8% to $4,294

·                  Funeral revenue decreased 2.5% to $228.7 million

·                  Cemetery revenue decreased 3.5% to $79.3 million

·                  Insurance revenue increased 5.3% to $46.3 million

·                  Net income decreased to $4.7 million

·                  Basic earnings per share decreased to $0.12; Diluted earnings per share
decreased to $0.11

·                  Pre-need funeral contracts written decreased 5.3% to $85.5 million

·                  Pre-need cemetery contracts written decreased 1.5% to $45.1 million

·                  Total debt decreased by $15.2 million

1



The following information was filed by Alderwoods Group Inc on Thursday, July 20, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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