STEERS HOLDINGS LIMITED - ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL IN

STEERS HOLDINGS LIMITED - ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL IN     
PLEASURE FOODS (PTY) LIMITED                                                    
STEERS HOLDINGS LIMITED                                                         
(Registration No. 1969/004875/06)                                               
("Steers Holdings")                                                             
Share Code: STE                                                                 
ISIN No: ZAE000008330                                                           
ACQUISITION OF THE ENTIRE ISSUED SHARE CAPITAL IN PLEASURE FOODS (PTY) LIMITED  
("PLEASURE FOODS")                                                              
Java Capital is authorised to announce the results of the general meeting of    
shareholders of Steers Holdings, held on 12 November 2003, convened in terms of 
the notice of meeting contained in the Steers Holdings circular issued on 27    
October 2003.                                                                   
Shareholders representing 78,06% of Steers Holdings shares in issue attended the
shareholders meeting (in person or by proxy) and 99,9% of these shares were     
voted in favour of the acquisition of the entire issued share capital in        
Pleasure Foods.                                                                 
Accordingly the agreement for the acquisition of the entire issued share capital
in Pleasure Foods is now unconditional.                                         
The transfer of the shares in Pleasure Foods, and the associated payment        
therefore, is expected to take place on or about 1 December 2003.               
Johannesburg                                                                    
12 November 2003                                                                
Corporate advisors and sponsor to Steers Holdings:                              
Java Capital                                                                    
Attorneys to Steers Holdings:                                                   
HR Levin                                                                        
Debt provider to Steers Holdings:                                               
Investec Bank Limited                                                           
Date: 12/11/2003 01:52:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department