Document:

<PAGE>
                                                                    Exhibit 4.37

                LEASE SUPPLEMENT AND ACCEPTANCE CERTIFICATE NO. 1
                          (Steelcase Trust No. 2000-1)

         LEASE SUPPLEMENT AND ACCEPTANCE CERTIFICATE NO. 1 (Steelcase Trust No.
2000-1) dated as of May 26, 2000 (as amended, modified, supplemented, restated
and/or replaced from time to time, the "Lease Supplement") between FIRST
SECURITY BANK, NATIONAL ASSOCIATION, not in its individual capacity except as
expressly provided herein, but solely as Certificate Trustee under Steelcase
Trust No. 2000-1 (together with its successors and assigns permitted hereunder,
the "Lessor"), and Steelcase Inc., a Michigan corporation (together with its
successors and assigns permitted under the Lease referred to below, the
"Lessee");

                              W I T N E S S E T H:

         Lessor and Lessee have heretofore entered into that certain Master
Aircraft Lease Agreement (Steelcase Trust No. 2000-1) dated as of May 26, 2000
(as amended, modified, supplemented, restated and/or replaced from time to time,
the "Lease"). The Lease provides for the execution and delivery of a Lease
Supplement substantially in the form hereof for the purpose of confirming the
acceptance and lease of the Aircraft under the Lease as and when delivered by
Lessor to Lessee in accordance with the terms thereof. Unless otherwise defined
herein, capitalized terms used herein shall have the meanings specified in or by
reference in, the Lease. For purposes of this Lease Supplement, "Aircraft" shall
refer to the Aircraft identified on Schedule 1 attached hereto.

         NOW, THEREFORE, in consideration of the premises and other good and
sufficient consideration, Lessor and Lessee hereby agree as follows:

         1.       Lessee hereby acknowledges and confirms Section 5 of the
Lease, with respect to the Aircraft.

         2.       Lessor hereby confirms delivery and lease to Lessee, and
Lessee hereby confirms acceptance and lease from Lessor, under the Lease as
hereby supplemented, the Aircraft.

         3.       Lessee hereby represents and warrants that to the best of its
knowledge no Event of Loss has occurred with respect to the Aircraft set forth
on Schedule 1 hereto as of the date hereof.

         4.       The Equipment Cost of the Aircraft leased hereunder is set
forth in Schedule 1 herein.

         5.       The Base Term Commencement Date for the Aircraft is May 26,
2000. The Base Term Expiration Date for the Aircraft is May 26, 2003. The Fixed
Basic Rent for the Aircraft is set forth in Schedule 2 attached hereto.

<PAGE>

         6.       The Sale Recourse Amount, for the Aircraft subject to this
Lease Supplement is an amount equal to the Equipment Cost for such Aircraft
multiplied by 80.29% on the Base Term Expiration Date; 79.64%, on last day of
the first Renewal Term, if any; and 78.59% on the last day of the second Renewal
Term, if any.

         7.       The Delivery Date for the Aircraft subject to this Lease
Supplement is the date hereof.

         8.       All of the terms and provisions of the Lease are hereby
incorporated by reference into this Lease Supplement and Lessee hereby confirms
its agreement, in accordance with the Lease as supplemented by this Lease
Supplement, to pay Rent to Lessor or such other Person, as appropriate, as
provided for in the Lease.

         9.       Any and all notices, requests, certificates and other
instruments executed and delivered after the execution and delivery of this
Lease Supplement may refer to the "Master Aircraft Lease Agreement, dated as of
May 26, 2000", the "Lease Agreement, dated as of May 26, 2000," or the "Lease,
dated as of May 26, 2000," or may identify the Lease in any other respect
without making specific reference to this Lease Supplement, but nevertheless all
such references shall be deemed to include this Lease Supplement, unless the
context shall otherwise require.

         10.      This Lease Supplement shall be construed in connection with
and as part of the Lease, and all terms, conditions and covenants contained in
the Lease (a) are hereby incorporated herein by reference as though restated in
their entirety and (b) shall be and remain in full force and effect.

         11.      This Lease Supplement may be executed in any number of
counterparts, each executed counterpart constituting an original but all
together one and the same instrument.

         12.      This Lease Supplement shall in all respects, including without
limitation all matters of construction, validity and performance, be governed by
and construed in accordance with the internal laws of the State of New York
without regard to conflict of laws principles of such state (except Title 14 of
Article 5 of the New York General Obligations Laws).

            [The remainder of this page is intentionally left blank]

                                        2

<PAGE>

         IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease Supplement
No. 1 to be duly executed and delivered by their respective officers as of the
day and year first above written.

                                       LESSOR:

                                       FIRST SECURITY BANK, NATIONAL
                                       ASSOCIATION, not in its individual
                                       capacity except as expressly provided
                                       herein, but solely as Certificate Trustee
                                       under Steelcase Trust No. 2000-1

                                       By:     /s/ Val T. Orton
                                           -------------------------------------
                                       Name:           Val T. Orton
                                       Title:          Vice President

                                       LESSEE:

                                       STEELCASE INC.,

                                       By:    /s/ Alwyn Rougier-Chapman
                                           -------------------------------------
                                       Name:   Alwyn Rougier-Chapman
                                       Title: Sr. VP - Finance and CFO

         *Receipt of the original counterpart of the foregoing Lease Supplement
is hereby acknowledged on this 26th day of May, 2000.

                                       FIRST SECURITY TRUST COMPANY OF NEVADA,
                                       as Administrative Agent

                                       By:     /s/ Val T. Orton
                                           -------------------------------------
                                       Name:           Val T. Orton
                                       Title:          Trust Officer

------------------
* This acknowledgment is executed in the original counterpart only.

                                        3

<PAGE>

                                                                   Schedule 1 to
                                                          Lease Supplement No. 1
                                                    (Steelcase Trust No. 2000-1)

                   Description of the Aircraft/Equipment Cost

One 1996 Dassault Aviation Falcon 2000 aircraft bearing manufacturer's serial
number 24 and U.S. Registration No. N376SC with two (2) CFE Model 738-1-1B
engines installed thereon, bearing manufacturer's serial numbers P105163 and
P105160, respectively.

Equipment Cost: $19,000,000.00

                                        4

<PAGE>

                                                                   Schedule 2 to
                                                          Lease Supplement No. 1
                                                    (Steelcase Trust No. 2000-1)

                            Fixed Basic Rent Schedule

<TABLE>
<CAPTION>
                                                           Lease
Year        Rent Number        Fixed Basic Rent           Balance
----        -----------        ----------------         -----------
<S>         <C>                <C>                      <C>
 1               1                  $19,792             $18,980,208
                 2                  $19,792             $18,960,417
                 3                  $19,792             $18,940,625
                 4                  $19,792             $18,920,833
                 5                  $19,792             $18,901,042
                 6                  $19,792             $18,881,250
                 7                  $19,792             $18,861,458
                 8                  $19,792             $18,841,667
                 9                  $19,792             $18,821,875
                10                  $19,792             $18,802,083
                11                  $19,792             $18,782,292
                12                  $19,792             $18,762,500
 2              13                  $19,792             $18,742,708
                14                  $19,792             $18,722,917
                15                  $19,792             $18,703,125
                16                  $19,792             $18,683,333
                17                  $19,792             $18,663,542
                18                  $19,792             $18,643,750
                19                  $19,792             $18,623,958
                20                  $19,792             $18,604,167
                21                  $19,792             $18,584,375
                22                  $19,792             $18,564,583
                23                  $19,792             $18,544,792
                24                  $19,792             $18,525,000
 3              25                  $19,792             $18,505,208
                26                  $19,792             $18,485,417
                27                  $19,792             $18,465,625
                28                  $19,792             $18,445,833
                29                  $19,792             $18,426,042
                30                  $19,792             $18,406,250
                31                  $19,792             $18,386,458
                32                  $19,792             $18,366,667
                33                  $19,792             $18,346,875
                34                  $19,792             $18,327,083
                35                  $19,792             $18,307,292
                36                  $19,792             $18,287,500
 4              37                  $19,792             $18,267,708
</TABLE>

                                  Schedule II-1

<PAGE>

<TABLE>
<CAPTION>
                                                           Lease
Year        Rent Number        Fixed Basic Rent           Balance
----        -----------        ----------------         -----------
<S>         <C>                <C>                      <C>
                38                  $19,792             $18,247,917
                39                  $19,792             $18,228,125
                40                  $19,792             $18,208,333
                41                  $19,792             $18,188,542
                42                  $19,792             $18,168,750
                43                  $19,792             $18,148,958
                44                  $19,792             $18,129,167
                45                  $19,792             $18,109,375
                46                  $19,792             $18,089,583
                47                  $19,792             $18,069,792
                48                  $19,792             $18,050,000
 5              49                  $19,792             $18,030,208
                50                  $19,792             $18,010,417
                51                  $19,792             $17,990,625
                52                  $19,792             $17,970,833
                53                  $19,792             $17,951,042
                54                  $19,792             $17,931,250
                55                  $19,792             $17,911,458
                56                  $19,792             $17,891,667
                57                  $19,792             $17,871,875
                58                  $19,792             $17,852,083
                59                  $19,792             $17,832,292
                60                $17,832,292           $17,812,500
</TABLE>

                                  Schedule II-2<PAGE>
                                                                    Exhibit 4.38

                LEASE SUPPLEMENT AND ACCEPTANCE CERTIFICATE NO. 2
                          (Steelcase Trust No. 2000-1)

         LEASE SUPPLEMENT AND ACCEPTANCE CERTIFICATE NO. 2 (Steelcase Trust No.
2000-1) dated as of August 23, 2000 (as amended, modified, supplemented,
restated and/or replaced from time to time, the "Lease Supplement") between
FIRST SECURITY BANK, NATIONAL ASSOCIATION, not in its individual capacity except
as expressly provided herein, but solely as Certificate Trustee under Steelcase
Trust No. 2000-1 (together with its successors and assigns permitted hereunder,
the "Lessor"), and Steelcase Inc., a Michigan corporation (together with its
successors and assigns permitted under the Lease referred to below, the
"Lessee");

                              W I T N E S S E T H:

         Lessor and Lessee have heretofore entered into that certain Master
Aircraft Lease Agreement (Steelcase Trust No. 2000-1) dated as of May 26, 2000
(as amended, modified, supplemented, restated and/or replaced from time to time,
the "Lease"), a counterpart of which was recorded by the FAA on July 17, 2000
and assigned conveyance number H099653. The Lease provides for the execution and
delivery of a Lease Supplement substantially in the form hereof for the purpose
of confirming the acceptance and lease of the Aircraft under the Lease as and
when delivered by Lessor to Lessee in accordance with the terms thereof. Unless
otherwise defined herein, capitalized terms used herein shall have the meanings
specified in or by reference in, the Lease. For purposes of this Lease
Supplement, "Aircraft" shall refer to the Aircraft identified on Schedule 1
attached hereto.

         NOW, THEREFORE, in consideration of the premises and other good and
sufficient consideration, Lessor and Lessee hereby agree as follows:

         1.       Lessee hereby acknowledges and confirms Section 5 of the
Lease, with respect to the Aircraft.

         2.       Lessor hereby confirms delivery and lease to Lessee, and
Lessee hereby confirms acceptance and lease from Lessor, under the Lease as
hereby supplemented, the Aircraft.

         3.       Lessee hereby represents and warrants that to the best of its
knowledge no Event of Loss has occurred with respect to the Aircraft set forth
on Schedule 1 hereto as of the date hereof.

         4.       The Equipment Cost of the Aircraft leased hereunder is set
forth in Schedule 1 herein.

         5.       The Base Term Commencement Date for the Aircraft is August 23,
2000. The Base Term Expiration Date for the Aircraft is May 26, 2003. The Fixed
Basic Rent for the Aircraft is set forth in Schedule 2 attached hereto.

<PAGE>

         6.       The Sale Recourse Amount, for the Aircraft subject to this
Lease Supplement is an amount equal to the Equipment Cost for such Aircraft
multiplied by 78.39% on the Base Term Expiration Date; 77.17%, on last day of
the first Renewal Term, if any; and 75.35% on the last day of the second Renewal
Term, if any.

         7.       The Delivery Date for the Aircraft subject to this Lease
Supplement is the date hereof.

         8.       All of the terms and provisions of the Lease are hereby
incorporated by reference into this Lease Supplement and Lessee hereby confirms
its agreement, in accordance with the Lease as supplemented by this Lease
Supplement, to pay Rent to Lessor or such other Person, as appropriate, as
provided for in the Lease.

         9.       Any and all notices, requests, certificates and other
instruments executed and delivered after the execution and delivery of this
Lease Supplement may refer to the "Master Aircraft Lease Agreement, dated as of
May 26, 2000", the "Lease Agreement, dated as of May 26, 2000," or the "Lease,
dated as of May 26, 2000," or may identify the Lease in any other respect
without making specific reference to this Lease Supplement, but nevertheless all
such references shall be deemed to include this Lease Supplement, unless the
context shall otherwise require.

         10.      This Lease Supplement shall be construed in connection with
and as part of the Lease, and all terms, conditions and covenants contained in
the Lease (a) are hereby incorporated herein by reference as though restated in
their entirety and (b) shall be and remain in full force and effect.

         11.      This Lease Supplement may be executed in any number of
counterparts, each executed counterpart constituting an original but all
together one and the same instrument.

         12.      This Lease Supplement shall in all respects, including without
limitation all matters of construction, validity and performance, be governed by
and construed in accordance with the internal laws of the State of New York
without regard to conflict of laws principles of such state (except Title 14 of
Article 5 of the New York General Obligations Laws).

            [The remainder of this page is intentionally left blank]

                                        2

<PAGE>

         IN WITNESS WHEREOF, Lessor and Lessee have caused this Lease Supplement
No. 2 to be duly executed and delivered by their respective officers as of the
day and year first above written.

                                       LESSOR:

                                       FIRST SECURITY BANK, NATIONAL
                                       ASSOCIATION, not in its individual
                                       capacity except as expressly provided
                                       herein, but solely as Certificate Trustee
                                       under Steelcase Trust No. 2000-1

                                       By:   /s/ Val T. Orton
                                           -------------------------------------
                                       Name:         Val T. Orton
                                       Title:        Vice President

                                       LESSEE:

                                       STEELCASE INC.,

                                       By:    /s/ Gary P. Malburg
                                           -------------------------------------
                                       Name:  Gary P. Malburg
                                       Title: VP - Finance and Treasurer

         *Receipt of the original counterpart of the foregoing Lease Supplement
is hereby acknowledged on this 23rd day of August, 2000.

                                       FIRST SECURITY TRUST COMPANY OF NEVADA,
                                       as Administrative Agent

                                       By:   /s/ Val T. Orton
                                           -------------------------------------
                                       Name:         Val T. Orton
                                       Title:        Trust Officer

----------------
* This acknowledgment is executed in the original counterpart only.

                                        3

<PAGE>

                                                                   Schedule 1 to
                                                          Lease Supplement No. 2
                                                    (Steelcase Trust No. 2000-1)

                   Description of the Aircraft/Equipment Cost

One Dassault Aviation Falcon 900EX aircraft bearing manufacturer's serial number
66 and U.S. Registration No. N377SC with three (3) AlliedSignal Model TFE 731-60
engines installed thereon, bearing manufacturer's serial numbers P112311,
P112312 and P112313, respectively, and all logs, manuals and data, and
inspection, maintenance, modification and overhaul records as are required to be
maintained with respect to such Aircraft pursuant to Section 8 of the Lease.

Equipment Cost:  $32,308,650.00

                                        4

<PAGE>

                                                                   Schedule 2 to
                                                          Lease Supplement No. 2
                                                    (Steelcase Trust No. 2000-1)

                            Fixed Basic Rent Schedule

<TABLE>
<CAPTION>
                                              Lease
Rent Number           Principal              Balance
-----------           ---------             ----------
<S>                   <C>                   <C>
     1                       0              32,308,650
     2                  58,046              32,250,604
     3                  58,046              32,192,557
     4                  58,046              32,134,511
     5                  58,046              32,076,464
     6                  58,046              32,018,418
     7                  58,046              31,960,371
     8                  58,046              31,902,325
     9                  58,046              31,844,278
    10                  58,046              31,786,232
    11                  58,046              31,728,185
    12                  58,046              31,670,139
    13                  58,046              31,612,092
    14                  58,046              31,554,046
    15                  58,046              31,495,999
    16                  58,046              31,437,953
    17                  58,046              31,379,906
    18                  58,046              31,321,860
    19                  58,046              31,263,813
    20                  58,046              31,205,767
    21                  58,046              31,147,720
    22                  58,046              31,089,674
    23                  58,046              31,031,627
    24                  58,046              30,973,581
    25                  58,046              30,915,534
    26                  58,046              30,857,488
    27                  58,046              30,799,441
    28                  58,046              30,741,395
    29                  58,046              30,683,348
    30                  58,046              30,625,302
    31                  58,046              30,567,255
    32                  58,046              30,509,209
    33                  58,046              30,451,162
    34                  58,046              30,393,116
    35                  58,046              30,335,069
    36                  58,046              30,277,023
    37                  58,046              30,218,976
</TABLE>

                                  Schedule II-1

<PAGE>

<TABLE>
<CAPTION>
                                              Lease
Rent Number           Principal              Balance
-----------           ---------             ----------
<S>                   <C>                   <C>
    38                  58,046              30,160,930
    39                  58,046              30,102,883
    40                  58,046              30,044,837
    41                  58,046              29,986,790
    42                  58,046              29,928,744
    43                  58,046              29,870,697
    44                  58,046              29,812,651
    45                  58,046              29,754,604
    46                  58,046              29,696,558
    47                  58,046              29,638,511
    48                  58,046              29,580,465
    49                  58,046              29,522,418
    50                  58,046              29,464,372
    51                  58,046              29,406,325
    52                  58,046              29,348,279
    53                  58,046              29,290,232
    54                  58,046              29,232,186
    55                  58,046              29,174,140
    56                  58,046              29,116,093
    57                  58,046              29,058,047
    58              29,058,047                       0
</TABLE>

                                  Schedule II-2

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