PRESS INFORMATION STEERS HOLDINGS FULLY OPERATIONAL

PRESS INFORMATION STEERS HOLDINGS FULLY OPERATIONAL                             
Steers Holdings Limited                                                         
ISIN:  ZAE000008330                                                             
JSE Share code: STE                                                             
PRESS INFORMATION STEERS HOLDINGS FULLY OPERATIONAL                             
Johannesburg, 12 June 2003: Steers Holdings Group Financial Director, Paris     
Papageorgiou, announced earlier that the company had met its commitment to      
stakeholders that it would be fully operational within 24 hours, following a    
fire at its warehouse.                                                          
Papageorgiou said: "I am pleased to confirm that the operations of the company  
have been restored, with minimal inconvenience to our franchise network and our 
customers."                                                                     
As at this morning, the company"s butchery and bakery delivered to franchisees  
in accordance with delivery schedules.  Alternative warehousing has been        
arranged in the interim, and deliveries from suppliers were received on schedule
this morning.                                                                   
Papageorgiou continues:  "We have obtained access to our production facilities  
and are in the process of cleaning the premises, after which production will    
start up this afternoon.  Delivery of sauces and spices to the franchise network
will not be affected."                                                          
"Although our telecommunications network is not fully operational, our          
administration department is functioning," he added.                            
A further statement regarding the cause and cost of the fire will be issued once
all official procedures have been completed.                                    
Media enquiries to:                                                             
Del-Maree English                                                               
Tel:      011 803 1212                                                          
Cell:     083 395 8608                                                          
Date: 12/06/2003 02:48:37 PM Supplied by www.sharenet.co.za                     
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