EXHIBIT 99.1

FOR FURTHER INFORMATION CONTACT:                          FOR IMMEDIATE RELEASE
FRB/WEBER SHANDWICK
CYNTHIA MARTIN (MEDIA) 312-641-6741
LESLIE LOYET (INVESTORS) 312-640-6672

                              STERICYCLE ANNOUNCES
             REPURCHASE OF $ 6.6 MILLION OF SENIOR SUBORDINATED DEBT

         o      The repurchase of $6.6 million of senior subordinated debt
                reduces Stericycle's weighted average cost of capital and
                reduces future interest expenses

LAKE FOREST, ILLINOIS, MAY 27, 2003 - STERICYCLE, INC. (NASDAQ: SRCL) announced
today that it has repurchased a total of $6.6 million in principal amount of its
12-3/8% senior subordinated notes due 2009. The repurchases were made at
prevailing market prices in privately negotiated transactions with two note
holders. In connection with these repurchases, we paid a premium of
approximately $1.1 million in addition to the principal amount of the notes.
This premium and the related non-cash write off of deferred financing charges of
$0.2 million will be recorded as one-time interest expense during the quarter
ending June 30, 2003. This one-time expense, and any future benefits from the
repurchase, have not been included in the earnings guidance that we have
previously given.

The result of the premium and the related non-cash write off of deferred
financing charges in connection with the repurchase of the bonds will have an
impact on earnings per share of approximately $0.02 in the quarter ending June
30, 2003. Excluding this effect, we believe we are on track with our prior
public guidance of earnings per diluted share for 2003 of $1.37-1.40.

Our outstanding 12-3/8% senior subordinated notes may not be called for
redemption prior to November 15, 2004. When the notes can be called, a premium
of 6.125% is payable in connection with redemptions during the first year.

Stericycle's President and Chief Executive Officer, Mark C. Miller, said, "We
welcomed the opportunity that arose to repurchase an additional $6.6 million of
our senior subordinated notes. Our analysis showed that the repurchase of the
notes provides an acceptable return on the use of our funds and contributes to
the lowering of our weighed average cost of capital."

SAFE HARBOR STATEMENT: 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 business, 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 identified 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 to disclose any subsequent revisions to
forward-looking statements.