Revolution Work Transformation
From the Personal Harbor
  of Jim Hackett
The Road to Six Billion and Beyond
The Six Growth Strategies Illustrated
Information for Our Investors
Steelcase Offerings Around
  the World
Financial Highlights
MD&A
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Changes
  in Shareholders' Equity
Consolidated Statements of Cash
  Flows
Notes to Consolidated Financial   Statements
 1. Nature of Operations
 2. Summary of Significant
Accounting Policies
 3. Comprehensive Income
 4. Initial Public Offering
 5. Inventories
 6. Property and Equipment, Net
 7. Notes Receivable and
Leased Assets
 8. Joint Ventures and Dealer
Transitions
 9. Other Assets
10. Short-Term Borrowings and
Long-Term Debt
11. Employee Benefit Plan
Obligations
12. Capital Structure
13. Stock Incentive Plans
14. Other Income, Net
15. Income Taxes
16. Financial, Instruments,
Concentrations of Credit Risk
and Off-Balance-Sheet Risk
17. Commitments
and Contingencies
18. Operating Segments
19. Acquisitions
20. Unaudited Quarterly Results
Report of Independent Certified
  Public Accountants and
  Management's Responsibility
  for Financial Reporting
Directors and Executive



ST E E L C A S E  I N C.
Notes to Consolidated Financial Statements

Note 1

NATURE OF OPERATIONS

Steelcase Inc. and its majority-owned subsidiaries (the “Company”) is the world’s largest manufacturer and provider of office furniture, office furniture systems and related products and services. The Company manufactures at more than 35 locations throughout the world, including the United States, Canada, Mexico and Europe. The Company distributes its products through a worldwide network of independent dealers in approximately 800 locations including approximately 400 in North America, 340 in Europe and 60 throughout the rest of the world. The Company operates under two geographical furniture segments, North America and International, and a services and other businesses segment.