UNITED STATES

Exhibit 99.1

FOR FURTHER INFORMATION CONTACT:

FOR IMMEDIATE RELEASE

Frank ten Brink 847-607-2012

Conference call to be held October 25, 2007 at 4:00 p.m. Central time – Dial 866-814-8448 at least 5 minutes before start time. If you are unable to participate on the call, a replay will be available through November 22nd by dialing 888-266-2081, access code 1137831. To hear a simulcast of the call over the internet, or to access an audio archive of the call, go to the Investor Relations page on Stericycle’s website at www.stericycle.com.

STERICYCLE, INC. REPORTS RESULTS

FOR THIRD QUARTER 2007

Lake Forest, Illinois, October 25, 2007—Stericycle, Inc. (NASDAQ:SRCL), today reported financial results for the third quarter of 2007.

THIRD QUARTER AND YEAR-TO-DATE RESULTS

Revenues for the quarter ended September 30, 2007 were $237.3 million, up 16.8% from $203.3 million in the third quarter of 2006. Acquisitions less than 12 months old contributed $12.3 million to the $34.0 million revenue growth in the third quarter of 2007. Gross profit was $106.8 million, up 18.0% from $90.5 million in the third quarter last year. Gross profit as a percent of revenues was 45.0% versus 44.5% in the third quarter of 2006.

Net income for the third quarter of 2007 was $32.9 million or $0.37 per diluted share compared with net income of $27.5 million or $0.30 per diluted share for the third quarter of 2006. During the second quarter of 2007 we completed a 2-for-1 stock split. All historical per share numbers have been adjusted for the split.

For the nine months ended September 30, 2007, revenues increased to $681.2 million, up 17.3% from $580.9 million in the same period a year ago. Gross profit was $305.6 million, up 19.0% from $256.8 million in the same period a year ago. Gross profit as a percent of revenues was 44.9% versus 44.2% in the same period in 2006. Earnings per diluted share increased 24.3% to $1.05 from $0.84 per diluted share in the same period a year ago.

Cash flow from operations was $128.1 million for the first nine months of 2007. Cash flow and increased loan balances funded $95.2 million in stock repurchases, $79.0 million in acquisitions and international investments and $37.6 million in capital spending.

For more information about Stericycle, please visit our website at www.stericycle.com.

Safe Harbor Statement: Statements in this press release may contain forward-looking statements that involve risks and uncertainties, some of which are beyond our control (for example, general economic conditions). Our actual results could differ significantly from the results described in the forward-looking statements. Factors that could cause such differences include difficulties in completing the integration of acquired businesses, changes in governmental regulation of medical waste collection and treatment, and increases in transportation and other operating costs, as well as the various other factors described in our filings with the U.S. Securities and Exchange Commission. As a result, past financial performance should not be considered a reliable indicator of future performance, and investors should not use historical trends to anticipate future results or trends. We make no commitment t o disclose any subsequent revisions to forward-looking statements.


STERICYCLE, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS EXCEPT FOR SHARE AND PER SHARE DATA)


		September 30,		December 31,
		2007		2006
		(unaudited)		(audited)
ASSETS
Current assets:
Cash and cash equivalents	$	7,703	$	13,492
Short-term investments		812		2,548
Accounts receivable, less allowance for doubtful
accounts of $5,985 in 2007 and $5,411 in 2006		154,763		130,354
Deferred tax asset		14,431		16,072
Asset group held for sale		-		33,674
Other current assets		26,514		22,462
Total current assets		204,223		218,602
Property, plant and equipment, net		185,327		156,953
Other assets:
Goodwill		920,848		813,973
Intangible assets, less accumulated amortization of
$14,068 in 2007 and $11,454 in 2006		143,664		115,879
Other		20,235		22,499
Total other assets		1,084,747		952,351
Total assets	$	1,474,297	$	1,327,906

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	16,440	$	22,681
Accounts payable		35,597		25,033
Accrued liabilities		75,064		75,434
Deferred revenue		13,507		11,662
Liability group held for sale		-		7,221
Total current liabilities		140,608		142,031
Long-term debt, net of current portion		545,146		443,115
Deferred income taxes		119,009		105,521
Other liabilities		13,468		12,158
Common shareholders' equity:
Common stock (par value $0.01 per share, 120,000,000
shares authorized, 86,971,032 issued and outstanding
in 2007, 88,503,930 issued and outstanding in 2006)		870		443
Additional paid in capital		180,042		252,568

Accumulated other comprehensive income		14,033		5,229
Retained earnings		461,121		366,841
Total shareholders' equity		656,066		625,081
Total liabilities and shareholders' equity	$	1,474,297	$	1,327,906


Total debt to capitalization percentage ratio		46.1%		42.7%
Calculation of total debt to capitalization percentage ratio:
Total debt	$	561,586	$	465,796
Shareholders' equity		656,066		625,081
Capitalization	$	1,217,652	$	1,090,877


STERICYCLE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(IN THOUSANDS EXCEPT FOR SHARE AND PER SHARE DATA)


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(unaudited)						(unaudited)
		2007			2006			2007			2006
		$	% of Rev		$	% of Rev		$	% of Rev		$	% of Rev

Revenues	$	237,323	100.0%	$	203,267	100.0%	$	681,217	100.0%	$	580,940	100.0%

Cost of revenues		130,509	55.0%		112,744	55.5%		375,650	55.1%		324,103	55.8%

Gross profit		106,814	45.0%		90,523	44.5%		305,567	44.9%		256,837	44.2%

Selling, general and administrative expenses		43,665	18.4%		35,791	17.6%		124,711	18.3%		104,508	18.0%
Amortization		929	0.4%		1,178	0.6%		2,679	0.4%		2,473	0.4%
Total SG&A expense and amortization		44,594	18.8%		36,969	18.2%		127,390	18.7%		106,981	18.4%

Income from operations before acquisition integration and other expenses		62,220	26.2%		53,554	26.3%		178,177	26.2%		149,856	25.8%

Gain on sale of assets		-	0.0%		-	0.0%		(1,898)	-0.3%		-	0.0%
Impairment of intangible asset		-	0.0%		-	0.0%		228	0.0%		-	0.0%
Impairment of fixed assets		-	0.0%		-	0.0%		1,261	0.2%		300	0.1%
Acquisition integration expenses		360	0.2%		519	0.3%		1,279	0.2%		1,814	0.3%

Income from operations		61,860	26.1%		53,035	26.1%		177,307	26.0%		147,742	25.4%

Other income (expense):
Interest Income		307	0.1%		490	0.2%		1,245	0.2%		997	0.2%
Interest expense		(8,864)	-3.7%		(7,810)	-3.8%		(24,840)	-3.6%		(20,969)	-3.6%
Investment in security write down		-	0.0%		-	0.0%		-	0.0%		(1,000)	-0.2%
Insurance proceeds		-	0.0%		-	0.0%		500	0.1%		-	0.0%
Other expense, net		(247)	-0.1%		(580)	-0.3%		(1,030)	-0.2%		(1,810)	-0.3%
Total other income (expense)		(8,804)	-3.7%		(7,900)	-3.9%		(24,125)	-3.5%		(22,782)	-3.9%

Income before income taxes		53,056	22.4%		45,135	22.2%		153,182	22.5%		124,960	21.5%

Income tax expense		20,161	8.5%		17,603	8.7%		58,902	8.6%		48,735	8.4%

Net income	$	32,895	13.9%	$	27,532	13.5%	$	94,280	13.8%	$	76,225	13.1%

Earnings per share-diluted	$	0.37		$	0.30		$	1.05		$	0.84
Weighted average number of common shares outstanding-diluted		89,794,892			90,495,268			90,068,563			90,485,544


STERICYCLE, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN THOUSANDS)

		For the nine months ended
		September 30,
		2007		2006
	(unaudited)
Operating Activities:
Net income	$	94,280	$	76,225
Adjustments to reconcile net income to net cash
provided by operating activities:
Gain on sale of assets		(1,898)		-
Impairment of fixed assets		1,261		300
Impairment of permit intangible		228		-
Write down of investment in securities		-		1,000
Stock compensation expense		7,855		7,927
Excess tax benefit of disqualifying dispositions of stock options and
exercise of non-qualified stock options		(3,414)		(7,783)
Depreciation		19,975		17,636
Amortization		2,679		2,473
Deferred income taxes		11,958		7,814
Changes in operating assets and liabilities, net of
effect of acquisitions
Accounts receivable		(13,931)		(18,131)
Other assets		1,845		(1,723)
Accounts payable		6,044		(6,466)
Accrued liabilities		(445)		34,430
Deferred revenue		1,706		1,015

Net cash provided by operating activities		128,143		114,717

Investing Activities:
Payments for acquisitions and international
investments, net of cash acquired		(78,966)		(142,922)
Proceeds from maturity/(purchases) of short-term investments		1,763		(2,901)
Proceeds from sale of assets		26,453		-
Proceeds from sale of property and equipment		-		601
Capital expenditures		(37,602)		(25,556)

Net cash used in investing activities		(88,352)		(170,778)

Financing Activities:
Proceeds from issuance of note payable		-		5,953
Repayment of long-term debt		(32,374)		(13,936)
Net borrowings on senior credit facility		68,623		69,139
Principal payments on capital lease obligations		(49)		(669)
Excess tax benefit of stock options exercised		3,414		7,783
Purchase/cancellation of treasury stock		(95,174)		(26,060)
Proceeds from other issuances of common stock		11,441		13,122

Net cash (used in) provided by financing activities		(44,119)		55,332
Effect of exchange rate changes on cash		(1,461)		(2,916)
Net decrease in cash and cash equivalents		(5,789)		(3,645)
Cash and cash equivalents at beginning of period		13,492		7,825

Cash and cash equivalents at end of period	$	7,703	$	4,180
Non-cash activities:

Net issuances of notes payable for certain acquisitions	$	54,108	$	27,957
Net issuances of common stock for certain acquisitions	$	365	$	750


Delaware	0-21229	36-3640402
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)



	By:	/s/ Frank J.M. ten Brink


		Frank J.M. ten Brink
		Executive Vice President and Chief Financial Officer