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Homestyle Group PLC (HME)

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Friday 22 December, 2006

Homestyle Group PLC

Posting of the Scheme Doc

Homestyle Group PLC
22 December 2006


For immediate release

22 December 2006

                              Homestyle Group PLC

                         Posting of the Scheme Document

On 13 December 2006 Steinhoff International Holdings Limited ('Steinhoff
International') and Steinhoff Europe AG ('Steinhoff Europe') announced the terms
of recommended proposals to be made by Steinhoff International and Steinhoff
Europe for the acquisition by Steinhoff Europe of the minority shareholdings in
Homestyle (the 'Proposals'). The Proposals are to be implemented by way of a
scheme of arrangement under section 425 of the Companies Act (the 'Scheme').

The Board of Homestyle is pleased to announce that the scheme document (the
'Scheme Document') which sets out, amongst other things, the full terms and
conditions of the Scheme and an explanatory statement (pursuant to section 426
of the Companies Act 1985) is being posted to Homestyle Shareholders today.

The Court Meeting and the Extraordinary General Meeting ('EGM') to approve the
Scheme are scheduled to be held on 19 January 2007. Notices of the Court Meeting
and the EGM are contained in the Scheme Document.

Commenting on the Proposals, Donald Macpherson, Chairman of Homestyle said: 'The
Independent Directors believe that these proposals are in the best interests of
minority shareholders. Consequently, we are unanimously recommending that they
vote in favour of the Scheme at the Court Meeting and in favour of the Special
Resolution to be proposed at the EGM.'

Copies of the Scheme Document will be submitted to the UK Listing Authority and
will shortly be available for inspection by the public at the UK Listing
Authority's Document Viewing Facility which is situated at: The Financial
Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS from
9.00 a.m. to 5.30 p.m. on every weekday except bank holidays until the Scheme
becomes effective. Copies of the Scheme Document are also available for
inspection at the offices at Hawkpoint Partners Limited, 41 Lothbury, London

Unless the context otherwise requires, terms defined in the Scheme Document have
the same meaning in this announcement.

Homestyle                                      Tel:
Donald Macpherson                              +44 (0)1925 647 200
Tim Kowalski                                   +44 (0)1925 647 200

Hawkpoint (Financial adviser to Homestyle)     Tel:
Christopher Darlington                         +44 (0)20 7665 4563

Hudson Sandler (PR adviser to Homestyle)       Tel:
Andrew Hayes                                   +44 (0)20 7796 4133

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

This announcement is not intended to and does not constitute an offer to sell or
any invitation to purchase or the solicitation of an offer to subscribe for any
securities or the solicitation of any vote or approval in any jurisdiction
pursuant to the Proposals or otherwise. Only the Scheme Document contains the
full terms and conditions of the Proposals, including details of how to vote in
favour of the Scheme. Any responses to the Scheme should be made only on the
basis of the information in the Scheme Document. Scheme Shareholders are urged
to read the Scheme Document because it contains important information relating
to the Proposals.

The distribution of this announcement in jurisdictions other than the United
Kingdom may be restricted by law and therefore any persons who are subject to
the laws of any jurisdiction other than the United Kingdom should inform
themselves about, and observe, any applicable requirements. This announcement
has been prepared for the purpose of complying with English law and the City
Code and the information disclosed may not be the same as that which would have
been disclosed if this announcement had been prepared in accordance with the
laws of jurisdictions outside the United Kingdom.

The availability of the Proposals to persons not resident in the United Kingdom
may be affected by the laws of the relevant jurisdiction in which they are
located. Persons who are not resident in the United Kingdom should inform
themselves of and observe any applicable requirements.

The directors of Homestyle accept responsibility for the information contained
in this announcement. To the best of their knowledge and belief (having taken
all reasonable care to ensure that such is the case) the information contained
in this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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