GRAND RAPIDS, MI -- Steelcase Inc. announced today that it has agreed to sell $250 million aggregate principal amount of 6.375% senior notes due February 15, 2021 in an underwritten public offering in which J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers. The company plans to use the net proceeds from the sale of the notes, together with available cash on hand, to repay the outstanding aggregate principal amount of its 6.5% senior notes due August 15, 2011. Pending repayment of its 6.5% senior notes, the company may invest the net proceeds from the offering in short-term marketable securities. The offering is expected to close on February 3, 2011, subject to market conditions and other factors.

This offering is being made pursuant to a prospectus supplement to the company's prospectus, dated June 4, 2009, filed as part of the company's effective universal shelf registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the notes may be obtained by contacting the joint book-running managers, Merrill Lynch, Pierce, Fenner & Smith Inc.

About Steelcase Inc.

Steelcase Inc. is the global leader in furnishing the work experience in office environments, offering a comprehensive portfolio of workplace furnishings, products and services.

SOURCE: Steelcase Inc.

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