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STEELCASE TO SERVICE CUSTOMER CREDIT NEEDS THROUGH EXPANDED FINANCIAL SUBSIDIARY

 GRAND RAPIDS, Mich., Nov. 10 /PRNewswire/ -- Steelcase Inc. today announced plans to provide its customers and dealers with an expanded menu of financial services through its subsidiary, Steelcase Financial Services, Inc. John Klein was named president of the subsidiary.
 "This newly expanded operation will give existing Steelcase customers -- and potential customers -- a dependable, competitively priced source of credit with which to facilitate their purchases," said Jerry K. Myers, Steelcase president and chief executive officer. "We expect the convenience and availability of our funding options to enhance our competitive edge."
 Myers said Steelcase Financial Services will provide a faster and less expensive way for businesses to furnish new or renovated office space.
 Steelcase Financial Services was established initially in 1985 to provide short-term financing to its dealers for special projects outside their normal funding capabilities. Beginning in March 1994, the financial subsidiary will offer a variety of new financing packages to its 450 U.S. Steelcase dealers, including asset-based operating lines, equipment loans and leases and loans to assist in ownership transitions.
 Klein, a 25-year Steelcase veteran, has held a variety of international and North American sales and dealer-related positions. Most recently he was director of dealer operations.
 Steelcase Inc., the world's largest designer and manufacturer of office furniture, is headquartered in Grand Rapids, with operations throughout North America, Europe and the Far East.
 -0- 11/10/93
 /CONTACT: Carol Rickner or Susan Rosenbaum of Stern + Associates, 908-276-4344, for Steelcase/


CO: Steelcase Inc.; Steelcase Financial Services, Inc. ST: Michigan IN: FIN SU: PDT

ML -- DE010 -- 2652 11/10/93 09:59 EST
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Publication:PR Newswire
Date:Nov 10, 1993
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