Steinhoff - Results Of The Capitalisation Share Award

Steinhoff - Results Of The Capitalisation Share Award                           
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/003951/06)                                            
(Share code:  SHF ISIN: ZAE 000016176)                                          
("Steinhoff" or "the company")                                                  
RESULTS OF THE CAPITALISATION SHARE AWARD AND ELECTION TO RECEIVE A FINAL CASH  
DIVIDEND IN LIEU THEREOF                                                        
The offer to receive the capitalisation share award or the cash dividend in lieu
thereof made to shareholders registered on Friday, 1 November 2002 closed at    
12:00 on that date. Elections to receive the cash dividend of 15 cents per share
were made in respect of 110 412 065 ordinary shares, totalling an aggregate cash
dividend of R 16 561 809,75.                                                    
Accordingly, 20 776 933 new ordinary shares in the company (being 87,88% of the 
maximum number of capitalisation shares that were the subject of the            
capitalisation share award) will be issued.  An amendment to the maximum number 
of capitalisation shares listed will be made on Tuesday, 5 November 2002.       
Share certificates in respect of the capitalisation shares and cheques in       
respect of the dividend entitlements have been dispatched to certificated       
shareholders on Monday, 4 November 2002.  The CSDP accounts of uncertificated   
Steinhoff shareholders have been updated or credited, as the case may be, on    
Monday, 4 November 2002.                                                        
Wynberg, Sandton                                                                
4 November 2002                                                                 
Sponsor and Investment Bank                                                     
GENSEC                                                                          
Date: 04/11/2002 05:05:00 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department