AMA/SHF - Amap/Steinhoff - Joint announcement

AMA/SHF - Amap/Steinhoff - Joint announcement                                   
AMALGAMATED APPLIANCE HOLDINGS LIMITED                                          
Incorporated in the Republic of South Africa                                    
(Registration number: 1997/004130/06)                                           
Share code: AMA & ISIN: ZAE000012647                                            
("Amap")                                                                        
STEINHOFF INTERNATIONAL HOLDINGS LIMITED                                        
Incorporated in the Republic of South Africa                                    
(Registration number: 1998/003951/06)                                           
Share code: SHF & ISIN: ZAE000016176                                            
("Steinhoff")                                                                   
JOINT ANNOUNCEMENT                                                              
Following the termination of the merger discussions between Amap and Steinhoff  
as announced on 12 April 2007 and Steinhoff`s subsequent disposal of its South  
African furniture manufacturing interests to a Private Equity Consortium, the   
nature of Steinhoff`s investment in Amap has changed.  The potential for        
synergistic benefits between Amap and Steinhoff are no longer applicable.       
Furthermore, because of Steinhoff`s stated objective of entering the Retail     
arena in South Africa, the continued representation of Steinhoff on the Amap    
board may have developed into potential and/or perceived conflicts of interest  
in respect of Amap`s relationships with its existing customers. Steinhoff will  
accordingly hold its 26,7% interest in Amap as a long-term investment.          
In view of the above, Steinhoff resolved that it would be in the best interests 
of both companies that Messrs Markus Jooste and Danie van der Merwe resign as   
non-executive directors from the Board of Amap with effect from 23 August 2007. 
24 August 2007                                                                  
Johannesburg                                                                    
Sponsor to Amap: Bridge Capital Advisors (Pty) Limited                          
Sponsor to Steinhoff: PSG Capital (Pty) Limited                                 
Date: 24/08/2007 11:24:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.