STEINHOFF INTERNATIONAL HOLDINGS LIMITED - CAPITALISATION SHARE AWARD : ISSUE

STEINHOFF INTERNATIONAL HOLDINGS LIMITED - CAPITALISATION SHARE AWARD  :  ISSUE 
PRICE AND RATIO OF ENTITLEMENT                                                  
STEINHOFF INTERNATIONAL HOLDINGS LIMITED                                        
(Incorporated in the Republic of South Africa)                                 
(Registration Number 1998/003951/06)                                            
Share code:  SHF;       ISIN : ZAE000016176                                     
("Steinhoff" or "the Company")                                                  
CAPITALISATION SHARE AWARD  :  ISSUE PRICE AND RATIO OF ENTITLEMENT             
Shareholders are referred to the results announcement dated 9 September 2003 and
the terms of the capitalisation share award announcement dated 17 October 2003  
and are advised that the issue price of the capitalisation share award has now  
been determined.                                                                
The issue price (which is the lower of the volume weighted average traded price 
of Steinhoff"s shares on the JSE Securities Exchange South Africa for the three 
trading days ending and including Thursday 23 October 2003, being 672 cps, and  
680 cps) is 672 cps.                                                            
Based on the issue price referred to above the ratio of entitlement to          
capitalisation shares will be 3,15126 shares for every 100 shares held on the   
record date (7 November 2003).                                                  
Shareholders will receive capitalisation shares in the company unless they elect
by Friday, 7 November 2003 to receive the final cash dividend of 18 cents per   
share in respect of the financial year ended 30 June 2003.                      
The salient dates applicable to the capitalisation share award as announced on  
17 October 2003 remain unchanged.                                               
Wynberg, Sandton                                                                
24 October 2003                                                                 
Sponsor                                                                         
PSG CAPITAL LIMITED                                                             
(Registration number 2002/017362/06)                                            
Date: 24/10/2003 07:01:05 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department