Steers Holdings Limited - Acquistion Of Pleasure Foods (Pty) Limited -

Steers Holdings Limited - Acquistion Of Pleasure Foods (Pty) Limited -          
Fulfilment Of Condition Precedent                                               
Steers Holdings Limited                                                         
(Registration number. 1969/004875/06)                                           
Share code: STE        ISIN code: ZAE000008330                                  
("Steers Holdings" or "the company")                                            
ACQUISTION OF PLEASURE FOODS (PTY) LIMITED -                                    
FULFILMENT OF CONDITION PRECEDENT                                               
Shareholders are referred to the circular issued on 27 October 2003 which sets  
out full details of the company"s proposed acquisition of the shares in Pleasure
Foods (Pty) Limited ("the acquisition").                                        
Steers Holdings has been advised that the Competition Commission has            
unconditionally approved the acquisition. The only remaining condition precedent
is the approval of shareholders in general meeting scheduled for Wednesday, 12  
November 2003. Shareholders holding in excess of 51% of Steers Holdings shares  
have irrevocably undertaken to vote at that meeting in favour of the            
acquisition.                                                                    
Johannesburg                                                                    
29 October 2003                                                                 
Corporate Advisor and        Attorneys            Competition Lawyers           
Sponsor                      HR Levin             Webber Wentzel Bowens         
Java Capital (Pty) Limited                                                      
Date: 29/10/2003 05:41:02 PM Supplied by www.sharenet.co.za                     
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