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Homestyle Group PLC (HME)

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Thursday 15 February, 2007

Homestyle Group PLC

Court Hearing Sanctions

Homestyle Group PLC
15 February 2007


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA OR JAPAN

15 February 2007

FOR IMMEDIATE RELEASE

HOMESTYLE GROUP PLC ('HOMESTYLE')

COURT HEARING SANCTIONS SCHEME OF ARRANGEMENT

The Board is pleased to announce that the Court sanctioned the Scheme to
implement the recommended acquisition by Steinhoff International Holdings
Limited and Steinhoff Europe AG (together, 'Steinhoff') of the minority
shareholdings in Homestyle, at the Court Hearing held earlier today.  The Court
also confirmed the associated reduction of Homestyle's share capital.  It is
expected that the Scheme will become effective on 19 February 2007 following the
delivery of an office copy of the Court Order and minute to the Registrar of
Companies and (in relation to the capital reduction) the registration by her of
such Court Order and minute.  All other conditions of the Scheme have been
satisfied, save for the admission of the New Steinhoff Shares to trading on the
JSE.  It is expected that such admission will become effective on 19 February
2007.

In accordance with the terms of the Scheme, the Scheme Shares will be
reclassified into A Shares or B Shares.  Each A Share will confer upon the
holder the right to receive 100p in cash and each B Share will confer upon the
holder the right to receive New Steinhoff Shares in accordance with the Ratio
set out in the Scheme Document, the result of which is set out below.  Currently
in issue are 101,409,623 Scheme Shares, which will be reclassified as 3,000,939
A Shares and 98,408,684 B Shares.

Based on the £/R exchange rate as at 11.00am on today's date of £1:R 14.0443
(being on the nearest hour following conclusion of the Court Hearing), and
applying the Ratio set out in the Scheme Circular, the number of New Steinhoff
Shares to be issued to each holder of Scheme Shares who has elected for the
Share Election will be 0.749 New Steinhoff Shares for each Scheme Share.

Following the Scheme becoming effective as described above, the Homestyle Shares
will be delisted.  This is anticipated to be with effect from 8.00 a.m. on 20
February 2007.

Terms defined in the Scheme Circular issued on 22 December 2006 have the same
meanings when used in this announcement.


Enquiries:

Homestyle Group PLC
Donald Macpherson                                            +44 (0) 1925 647200
Tim Kowalski                                                 +44 (0) 1925 647200

Hawkpoint Partners Limited (Financial adviser to
Homestyle)
Christopher Darlington                                      +44 (0) 20 7665 4563

Hudson Sandler Limited (PR adviser to Homestyle)
Jessica Rouleau                                             +44 (0) 20 7796 4133

Steinhoff International Holdings Limited
Piet Ferreira                                                +27 (0) 11 445 3061
Stehan Grobler                                               +27 (0) 11 445 3050

Citigroup Global Markets Limited (Financial adviser to
Steinhoff)
Ian Hart                                                    +44 (0) 20 7986 4000
Mark Todd                                                   +44 (0) 20 7986 4000


Hawkpoint Partners Limited, which is authorised and regulated by the Financial
Services Authority, is acting for Homestyle Group PLC and no one else in
connection with the Proposals and will not be responsible to anyone other than
Homestyle Group PLC for providing the protections afforded to clients of
Hawkpoint or for providing advice in relation to the Proposals, the contents of
this Announcement or any transaction or arrangement referred to in this
Announcement.

Citigroup, which is authorised and regulated by the Financial Services
Authority, is acting for Steinhoff International Holdings Limited and Steinhoff
Europe AG and no one else in connection with the Proposals and will not be
responsible to anyone other than Steinhoff International Holdings Limited and
Steinhoff Europe AG for providing the protections afforded to clients of
Citigroup or for providing advice in relation to the Proposals, the contents of
this Announcement or any transaction or arrangement referred to in this
Announcement.

This communication does not constitute an offer to sell or invitation to
purchase or subscribe for any securities or the solicitation of an offer to buy
securities, or the solicitation of any vote or approval, in any jurisdiction
pursuant to the Proposals or otherwise.  Any response in relation to the
Proposals should only be made on the basis of the information contained in the
Scheme Document.





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