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Homestyle Group PLC (HME)

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Friday 19 January, 2007

Homestyle Group PLC

Result of EGM

Homestyle Group PLC
19 January 2007




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

19 January 2007

FOR IMMEDIATE RELEASE HOMESTYLE GROUP PLC ('HOMESTYLE')

RESULTS OF COURT MEETING AND EXTRAORDINARY GENERAL MEETING

The Court Meeting and Extraordinary General Meeting of Homestyle in connection
with the recommended Proposals by Steinhoff International Holdings Limited and
Steinhoff Europe AG (together, 'Steinhoff'), to acquire the minority
shareholdings in Homestyle, were held today.

Homestyle announces that the resolutions to approve the Proposals, to be
effected by means of a scheme of arrangement under section 425 of the Companies
Act 1985, were passed by the requisite majorities at each meeting.

At the Court Meeting, the voting was held on a poll and the votes of those
Homestyle Shareholders who cast votes either in person or by proxy are
summarised in the following table:


                                    For                                 Against
Number of votes                     52,341,688                          9,392
Number of voters                    423                                 20


The votes cast in favour of the Proposals at the Court Meeting, either in person
or by proxy, therefore represented 99.98 per cent of the total votes cast.

At the EGM the resolution to approve  the related reclassification of
Homestyle's issued shares, the reduction of its issued share capital and
amendments to Homestyle's articles of association was passed unanimously on a
show of hands. Proxy votes were received as to 52,315,004 in favour of the
resolution, 14,227 against the resolution and 70,536 abstaining.

The Proposals remain subject to the satisfaction or waiver of the other
conditions set out in Part 3 of the circular issued by Homestyle on 22 December
2006 in connection with the Proposals (the 'Scheme Circular'), in particular the
approval of the scheme of arrangement and the reduction of capital by the Court.

Homestyle Shareholders are reminded of the following expected dates:

Last day of dealings in, and for registration of transfers                   14 February 2007
of, Homestyle Shares

Registration of transfers of Homestyle Shares suspended                      4.30 p.m. on 14 February 2007

Latest time for lodging green Form of Election
(all Homestyle Shareholders) and for TTE instructions
to settle (CREST holders of Homestyle Shares only)                           4.30 p.m. on 14 February 2007

Scheme Record Time                                                           6.00 p.m. on 14 February 2007

Court Hearing (to sanction the Scheme and to confirm                         15 February 2007
the associated reduction of capital)

Effective Date of the Scheme                                                 19 February 2007

Delisting of Homestyle Shares                                                8.00 a.m. on 19 February 2007

Crediting of accounts in STRATE (the South African                           9.00 a.m. on 19 February 2007
equivalent of CREST) and dealings in New Steinhoff Shares
in dematerialised form commence on the JSE

Latest date for despatch of cheques and share certificates                   5 March 2007
in respect of New Steinhoff Shares to be held in
certificated form


Terms defined in the Scheme Circular have the same meanings when used in this
announcement.


Enquiries:

Homestyle Group PLC
Rian du Plessis    (on 19/1/2007 contact at +44 (0) 20 7796                   +44 (0) 1925 647200
4133)
Tim Kowalski     (on 19/1/2007 contact at +44 (0) 20 7796                     +44 (0) 1925 647200
4133)

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
Kate Hough                                                                    +44 (0) 20 7796 4133

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

Citigroup (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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