STEERS HOLDINGS ANNOUNCES CHANGES TO ITS BOARD

Press release
21 February 2001

Steers Holdings Limited (Steers) today announced changes to its board,
effective 1 March 2001.  Kevin Hedderwick, currently Steers brand Managing
Director (MD), takes up the newly-established position of Chief Operating
Officer: Franchising (COO), whilst retaining his position as Steers brand MD.
He also becomes a member of the Steers Holdings board.

Over the past two years, Steers Holdings has strengthened its executive team
through the appointment of experienced industry players like Hedderwick. His
appointment as COO sees a further strengthening of the Group's operational
management structure, with the management teams for all of the Group's brands,
as well as the International business unit, now reporting in to this new
position. Previously, these functions reported to Theofanis Halamandaris, the
Group's Managing Director (MD). He will now assume the position of Chief
Executive Officer (CEO) for Steers Holdings. The change in responsibility will
allow Halamandaris to focus more of his attention on the overall strategic
direction of the Group.

John Halamandres remains on the board as Deputy Chairman, but will fill this
role in a non-executive capacity from 1 March 2001, when he retires from
executive management.

Halamandres' executive responsibilities over the past two years have been
mainly investor relations and corporate affairs. Neil Stokes, Chief Financial
Officer (CFO), will take over the investor relations portfolio and Hedderwick
will assume responsibility for corporate affairs.

At the same time, Joe Hamilton (Steers Retail Products MD) and Demetri
Pappadopoulos (International Director) will stand down from the Steers Holdings
board to focus additional attention on their respective operational roles. In
addition, Stephen Triand, non-executive director, has chosen to vacate his
position. Periklis Halamandaris will take over Triand's position as
non-executive director.

Overall, these moves are designed to strengthen further the Steers Group's
operational structure, whilst at the same time, achieving a better balance
between executive and non-executive directors on the Holdings board. From 1
March 2001, the board will consist of Peter Halamandaris (Executive Chairman),
John Halamandres (Non-executive Deputy Chairman), Theofanis Halamandaris (CEO),
Neil Stokes (CFO), Kevin Hedderwick (COO), Periklis Halamandaris
(non-executive) and Hymie Levin (non-executive).

The Steers group is the leading South African fast food franchisor, with over
450 outlets in South Africa and across the African continent. The Group's
brands include Steers, Debonairs Pizza and FishAways.
ends

Written and distributed by : Arcay Financial Communications
On behalf of               : Steers Holdings

Further information        : Gayle Barbour-Rodrigues
Tel                        : 27 11 480 8573
Fax                        : 27 11 480 8603
Cell                       : 083 307 6484
e-mail                     : barbg@arcay.co.za
GAYLE BARBOUR
CONSULTANT
ARCAY FINANCIAL COMMUNICATIONS
Tel   : +27 11 480 8573
Fax   : +27 11 480 8556
Email : barbg@arcay.co.za