STEERS HOLDINGS WAREHOUSE FIRE BROUGHT UNDER CONTROL

STEERS HOLDINGS WAREHOUSE FIRE BROUGHT UNDER CONTROL                            
Steers Holdings Limited                                                         
(Incorporated in the Republic of South Africa)                                  
(Registration number 1969/004875/06)                                            
("the company")                                                                 
Share code: STE   ISIN: ZAE000008330                                            
STEERS HOLDINGS WAREHOUSE FIRE BROUGHT UNDER CONTROL                            
SUPPLY CHAIN NOT ADVERSELY AFFECTED                                             
Steers Holdings announced earlier today that between 07h30 and 08h00 on         
Wednesday, 11 June 2003, a fire broke out at the company"s warehouse,           
situated in Midrand, Gauteng.                                                   
The fire has subsequently been brought under control.  No injuries were         
sustained.                                                                      
Paris Papageorgiou, Group Financial Director notes that:  "Whilst the           
warehouse was burnt down, the company"s production facilities, namely the       
butchery, bakery and sauce and spice operations remain intact, and minimal      
disruption will be experienced.  The supply chain to franchisees and the        
public will not be adversely affected."                                         
Papageorgiou says that warehouse stock which comprised third-party supplies     
and company manufactured product can be replaced at short notice.               
Alternative warehousing arrangements have been made in the interim.             
The extent of the damage and cause of the fire will be investigated once the    
site has been cleared.                                                          
ends                                                                            
Media enquiries to:                                                             
Del-Maree English                                                               
Tel:  011 803 1212                                                              
Date: 11/06/2003 02:15:50 PM Supplied by www.sharenet.co.za                     
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