Document:

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                                                                     Exhibit 4.4

C L I F F O R D                                    LIMITED LIABILITY PARTNERSHIP

C H A N C E

                                STEELCASE INC.

                                   as Issuer

                                 BANK ONE, NA

                     as Issuing Agent and as Paying Agent

           _______________________________________________________________

                ISSUING AND PAYING AGENCY AGREEMENT (ECP NOTES)
                        relating to a U.S.$400,000,000
                       GLOBAL COMMERCIAL PAPER PROGRAMME

        _______________________________________________________________

                                 20 June 2001
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                                   CONTENTS

<TABLE>
<CAPTION>
Clause                                                            Page
<S>                                                               <C>
1.   Interpretation............................................      1

2.   Appointment Of The Agent..................................      3

3.   The Notes.................................................      3

4.   Issue Of Notes............................................      4

5.   Payments..................................................      6

6.   Cancellation, Destruction, Records And Custody............      7

7.   Appointment And Duties Of The Calculation Agent...........      8

8.   Fees And Expenses.........................................      8

9.   Terms Of Appointment......................................      8

10.  Changes In Agents.........................................     10

11.  Modification..............................................     11

12.  Notices...................................................     11

13.  Law And Jurisdiction......................................     11

14.  Counterparts..............................................     12

SCHEDULE 1    Form Of Confirmation To Issuing Agent............     13

SCHEDULE 2    Forms Of Note....................................     14

SCHEDULE 3    Timetable For Issues Of Notes....................     36
</TABLE>
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THIS AGREEMENT is made on 20 June 2001

__________________

BETWEEN

(1)  STEELCASE INC. (the "Issuer"); and

(2)  BANK ONE, NA.

WHEREAS

(A)  The Issuer has established a programme (the "Programme") for the issuance
     of commercial paper, in connection with which it has entered into a dealer
     agreement (as amended, supplemented and/or restated from time to time, the
     "Dealer Agreement") dated the date hereof and made between the Issuer and
     the dealers from time to time party thereto (together, the "Dealers" and
     each a "Dealer") pursuant to which the Issuer may from time to time issue
     Notes (as defined below).

(B)  The parties hereto wish to record the arrangements agreed between them in
     relation to the Notes to be issued under the Programme.

IT IS AGREED as follows:

1.   INTERPRETATION

1.1  In this Agreement:

     "Agents" means the Issuing Agent, the Paying Agent and the Principal Paying
     Agent, and "Agent" shall be construed accordingly.

     "Business Day" means, except where the context requires otherwise, a day
     (other than a Saturday or Sunday):

     (a)  on which deposits in the relevant currency are dealt in on the London
          interbank market and on which commercial banks are open for business
          in London;

     (b)  if a payment is to be made on that day under this Agreement, the
          Dealer Agreement, any of the Notes, on which commercial banks are open
          for business in the place of payment;

     (c)  on which Euroclear and Clearstream, Luxembourg are in operation; and

     (d)  in the case of Notes denominated in euro, which is a TARGET Business
          Day (as defined below);

     "Calculation Agent" means such person appointed as such pursuant to a
     calculation agency agreement executed in the form set out in Schedule 6 to
     the Dealer Agreement and includes any successor in such capacity;

     "Clearstream, Luxembourg" means Clearstream Banking, societe anonyme,
     Luxembourg;
<PAGE>

     "Definitive Note" means a security printed Note in definitive form;

     "Dollars" and "U.S.$" denote the lawful currency of the United States of
     America; and "Dollar Note" means a Note denominated in Dollars;

     "euro" denotes the single currency of those member states of the European
     Union participating in European Monetary Union from time to time; and "euro
     Note" means a Note denominated in euro;

     "Euroclear" means Euroclear Bank S.A./N.V. as operator of the Euroclear
     system or any successor thereto;

     "Global Note" means a Note in global form, representing an issue of
     promissory notes of a like maturity which may be issued by the Issuer from
     time to time pursuant to this Agreement;

     "Index Linked Note" has the meaning ascribed thereto in the Dealer
     Agreement;

     "Issuing Agent", "Paying Agent" and "Principal Paying Agent" means Bank
     One, NA in its capacity as issuing agent, paying agent or principal paying
     agent respectively in relation to the Notes or its successor in such
     capacity and any other issuing agent, paying agent or principal paying
     agent appointed by the Issuer on the terms hereof;

     "Issue Date" means the date on which the Note is, or is to be, issued
     hereunder;

     "Maximum Amount" means U.S.$400,000,000 or its equivalent in other
     currencies, as such amount may be increased from time to time pursuant to
     the Dealer Agreement;

     "Maturity Date" means, in relation to a Note, the last day of the Tenor
     thereof;

     "Note" means a bearer promissory note of the Issuer purchased or to be
     purchased by a Dealer under the Dealer Agreement, in definitive or global
     form, substantially in the relevant form scheduled hereto or such other
     form as may be agreed from time to time between the Issuer and the Issuing
     Agent and, unless the context otherwise requires, the promissory notes
     represented by the Global Notes;

     "specified office" means, in relation to any Agent, the office specified
     against its name on the signature page hereof or, in the case of an Agent
     not originally party hereto, specified in its terms of appointment or such
     other office in the same city or town as such Agent may specify by notice
     to the Issuer and the other parties hereto in accordance with Clause 12;

     "Sterling" and "(Pounds)" denote the lawful currency of the United Kingdom;
     and "Sterling Note" means a Note denominated in Sterling;

     "TARGET Business Day" means a day upon which the Trans-European Automated
     Real-Time Gross Settlement Express Transfer (TARGET) System, or any
     successor to such system, is open;

     "Tenor" means, in relation to any Note, the period from its Issue Date
     until its maturity; and
<PAGE>

     "Yen" and "(Yen)" denote the lawful currency of Japan; and "Yen Note" means
     a note denominated in Yen.

1.2  Any reference in this Agreement to the nominal amount of any Note includes
     any additional amounts which may become payable in respect thereof pursuant
     to the terms of such Note.

1.3  Any reference in this Agreement to a Clause or a Schedule is, unless
     otherwise stated, to a clause hereof or a schedule hereto.

1.4  Headings and sub-headings are for ease of reference only and shall not
     affect the construction of this Agreement.

2.   APPOINTMENT OF THE AGENT

2.1  The Issuer appoints the Agent at its specified office as its agent in
     relation to the Notes for the purposes specified in this Agreement and such
     other purposes that the Issuer may request and as are reasonably acceptable
     to the Agent and for all matters incidental thereto.

2.2  The Agent accepts its appointment as agent of the Issuer in relation to the
     Notes and agrees to comply with the provisions of this Agreement and, in
     connection therewith shall take all such action as may be incidental
     thereto as agreed between the Agent and the Issuer.

3.   THE NOTES

3.1  Each Note issued hereunder shall be:

     3.1.1     substantially in the relevant form scheduled hereto or, as the
               case may be, such other form as may be agreed between the Issuer
               and the Issuing Agent from time to time;

     3.1.2     duly executed manually or in facsimile on behalf of the Issuer;
               and

     3.1.3     authenticated manually by two authorised signatories of the
               Issuing Agent.

3.2  The Issuer shall procure that a sufficient quantity of executed but
     unauthenticated Notes is at all times available to the Issuing Agent for
     the purpose of issue hereunder. The Issuing Agent shall notify the Issuer
     forthwith on written request of the quantity of Notes which are at the date
     of such request held by it.

3.3  The Issuer may use the manual or facsimile signature on any Note of any
     person who on the date of preparation or printing of such Note was duly
     authorised to execute such Note on behalf of the Issuer, notwithstanding
     that at the date of issue of the relevant Note such person may for any
     reason (including death) no longer be so authorised. The Issuer may change
     the name of any person whose manual or facsimile signature is to appear on
     the Notes to bind the Issuer, by delivering to the Issuing Agent, no later
     than 30 days before the first date on which there are to be issued Notes in
     respect of which such manual or facsimile signature is to be used, a copy
     of such signature in such form as the Issuing Agent may require.
<PAGE>

4.   ISSUE OF NOTES

4.1  The Issuer shall give to the Issuing Agent by facsimile transmission
     details (in substantially the form of the confirmation set out in Schedule
     1) of any Notes to be issued by it under this Agreement and all such other
     information as the Issuing Agent may require for it to carry out its
     functions as contemplated by this clause, by not later than:

     4.1.1     12.30 p.m. (London time) on the proposed Issue Date (in the case
               of Sterling Definitive Notes); or

     4.1.2     in any other case, 3.00 p.m. (London time) two Business Days
               prior to the proposed Issue Date,

     (or such later time or date as may subsequently be agreed between the
     Issuer and the Issuing Agent) in respect thereof and the Issuing Agent
     shall thereupon be authorised to complete Notes of the appropriate
     aggregate principal or nominal amount and/or (as the case may be) a Global
     Note by inserting in the appropriate place on the face of each Note the
     dates on which such Note shall be issued and shall mature and otherwise
     completing the same. For the purposes of this Clause 4.1, the Issuing Agent
     may, if it considers it appropriate in the circumstances, treat a telephone
     communication from a person who it reasonably believes to have been duly
     authorised by the Issuer as sufficient instructions and authority from the
     Issuer to act in accordance with the provisions of this Clause 4.1, and the
     Issuer shall confirm such communication in writing no later than the
     relevant time referred to above.

4.2  If any such Notes as are mentioned in Clause 4.1 are not to be issued on
     any Issue Date, the Issuer shall immediately notify the Issuing Agent. Upon
     receipt of such notice the Issuing Agent shall not thereafter issue or
     release the relevant Notes, but shall cancel and destroy them.

4.3  Subject to Clause 4.2, the Issuing Agent shall deliver duly authenticated
     Notes, on the basis described below, on the Business Day before the
     proposed Issue Date of the Notes (unless specified otherwise) to a common
     depositary for Euroclear and Clearstream, Luxembourg on a delivery against
     payment basis or, in the case of Sterling Definitive Notes, make the same
     available for collection in accordance with applicable London market
     practice on their Issue Date.

4.4  In respect of all Notes delivered to depositaries in accordance with Clause
     4.3 above, the Issuing Agent shall give instructions to Euroclear and/or
     Clearstream, Luxembourg to credit the underlying Notes represented by the
     relevant Global Note to the Issuing Agent's distribution account. Each Note
     so credited to the Issuing Agent's distribution account with Euroclear or
     Clearstream, Luxembourg shall be held to the order of the Issuer pending
     delivery to the relevant Dealer on a delivery against payment basis in
     accordance with the normal procedures of Euroclear or Clearstream,
     Luxembourg, as the case may be. The Issuing Agent shall on the Issue Date
     and against receipt of funds from the relevant Dealer transfer the proceeds
     of issue to the Issuer to the relevant account notified by the Issuer to
     the Issuing Agent in accordance with Clause 4.1.
<PAGE>

4.5  If on the relevant Issue Date the relevant Dealer does not pay the purchase
     price due from it in respect of any Note (the "Defaulted Note") and as a
     result the Defaulted Note remains in the Issuing Agent's distribution
     account with Euroclear or Clearstream, Luxembourg after the Issue Date
     (rather than being credited to the relevant Dealer's account against
     payment), the Issuing Agent will continue to hold the Defaulted Note to the
     order of the Issuer. If the Defaulted Note is in the Issuing Agent's
     distribution account with the Euroclear or Clearstream, Luxembourg on the
     date when payment in respect of such Note is made (and it shall be treated
     as being in such an account unless the Issuing Agent has received specific
     instructions to transfer it to the account of another account holder of
     Euroclear or Clearstream, Luxembourg) the Issuing Agent shall pay to the
     Issuer the amount received by the Issuing Agent from Euroclear or
     Clearstream, Luxembourg (or credited to a cash account of the Issuing Agent
     with Euroclear or Clearstream, Luxembourg) in respect of such Note.

4.6  If the Issuing Agent pays an amount (the "Advance") to the Issuer on the
     basis that a payment (the "Payment") has been, or will be, received from
     the relevant Dealer and if the Payment has not been or is not received by
     the Issuing Agent on the date the Issuing Agent pays the Issuer, the
     Issuing Agent shall promptly inform the relevant Dealer and request that
     Dealer to pay the Payment, failing which the Issuer shall, upon being
     requested to do so, repay to the Issuing Agent the Advance and the cost of
     funding such advance as determined by the Issuing Agent and the Issuing
     Agent shall provide evidence thereof to the Issuer) on the Advance until
     the earlier of repayment in full of the Advance and receipt in full by the
     Issuing Agent of the Payment.

4.7  As soon as practicable after the Issue Date of any Notes, the Issuing Agent
     shall deliver to the Issuer and the Principal Paying Agent (who shall, if
     applicable, thereupon give details to the other Paying Agents) particulars
     of (a) the number and aggregate principal amount of the Notes completed,
     authenticated and delivered by it, or made available by it for collection,
     on such date, (b) the Issue Date and the Maturity Date of such Notes and
     (c) the series and serial numbers of all such Notes.

4.8  The Issuer hereby authorises and instructs the Issuing Agent to make all
     necessary notifications to and filings with any relevant central bank or
     other regulatory authority which shall monitor volumes of commercial paper
     in issue from time to time, including (without limitation and where
     applicable) the Bank of England and the Issuing Agent shall provide copies
     thereof to the Issuer.

4.9  The Issuer hereby authorises and instructs the Issuing Agent to complete,
     authenticate and deliver on its behalf Definitive Notes in accordance with
     the terms of any Global Note presented to the Issuing Agent for exchange in
     whole (but not in part only).

4.10 The Issuer will give at least 10 days prior written notice to the Issuing
     Agent of a change in the Maximum Amount of Notes which may be issued under
     the Dealer Agreement.

4.11 The Issuer will promptly notify the Issuing Agent of the appointment,
     resignation, or termination of the appointment of any Dealer.
<PAGE>

4.12 For ease of reference a timetable setting out the timing for the issuance
     of Notes under the Programme is set out in Schedule 3 but, in the event of
     an inconsistency between such timetable and the other provisions of this
     Agreement, the latter shall prevail.

5.   PAYMENTS

5.1  The Issuer undertakes in respect of each Note issued by the Issuer to pay,
     in the currency in which such Note is denominated, no later than 12.00 p.m.
     (local time) in the place of payment on the Maturity Date or any relevant
     interest payment date of each Note, an amount sufficient to pay the full
     amount payable on such date by way of principal, interest or otherwise in
     respect thereof:

     5.1.1     in the case of Dollar Notes, by transfer of same day value Dollar
               funds to account number 1088202 of the Paying Agent at Bank One,
               NA or such other account of the Paying Agent at such bank in New
               York City as the Paying Agent may from time to time designate for
               the purpose;

     5.1.2     in the case of euro Notes, by transfer of same day value euro
               funds to such account of the Paying Agent at such bank in such
               city as the Paying Agent may from time to time designate for the
               purpose; and

     5.1.3     in the case of Notes denominated in any other currency, by
               transfer of immediately available and freely transferable funds
               in such other currency to such account of the Paying Agent at
               such bank in the principal financial centre for such other
               currency as the Paying Agent may from time to time designate for
               the purpose.

5.2  The Issuer shall, prior to 12 noon (London time) on the second Business Day
     immediately preceding the Maturity Date or any relevant interest payment
     date of any Note (or such later time or date as may subsequently be agreed
     between the Issuer and the Paying Agent), send to the Paying Agent (or, at
     the option of the Paying Agent, shall procure that a bank irrevocably
     confirms to the Paying Agent by authenticated SWIFT message) irrevocable
     confirmation that payment will be made and the details of the bank through
     which the Issuer is to make the payment due pursuant to this Clause.

5.3  The Issuer hereby authorises and directs any other Paying Agents, if
     applicable, from funds so paid to the Paying Agent to make payment of all
     amounts due on the Notes as set forth herein and in the Notes and, if
     applicable, authorises the Paying Agent on demand to reimburse the claims
     of any other Paying Agent for amounts paid by it.

5.4  If the Paying Agent has not received on the Maturity Date or any relevant
     interest payment date of any Notes the full amount payable in respect
     thereof on such date and confirmation satisfactory to itself that such
     payment has been received, no Paying Agent shall be required to make
     payment of any amount due on any Note. Nevertheless, subject to the
     foregoing, if the Paying Agent is satisfied that it will receive such full
     amount later, it shall be entitled to pay maturing Notes due in accordance
     with their terms. In addition, it shall forthwith so notify any other
     Paying Agent, if applicable, who will, as paying agents of the Issuer, pay
     on behalf of the Issuer on and after each due date
<PAGE>

     for payment the amount due to be paid on surrender of the Notes in
     accordance with their terms.

5.5  If a Paying Agent makes such payment on behalf of the Issuer under Clause
     5.4, the Issuer shall be liable on demand by such Paying Agent to pay to
     such Paying Agent the amount so paid out, together with the cost of funding
     any such payment made by it (as determined by the Paying Agent and the
     Issuing Agent shall provide evidence thereof to the Issuer).

5.6  Where any Notes ("New Notes") are to be issued on the maturity date of any
     outstanding Notes denominated in the same currency, the amount actually
     received by the Principal Paying Agent in respect of such issue (or so much
     thereof as shall be required to pay the maturing Notes in full) may be
     applied in or towards payment of the amounts due on the Notes maturing on
     such maturity date and the Paying Agent shall notify the Issuer of the
     amount by which such proceeds will, assuming payment for such New Notes
     having been made in full, be insufficient to pay the amounts due on the
     maturity of the Notes maturing on such maturity date, and the Issuer shall
     pay such shortfall amount in accordance with Clause 5.1.

5.7  If at any time a Paying Agent makes a partial payment in respect of any
     Note presented to it, it shall procure that a statement indicating the date
     and amount of such payment is written or stamped on the face of such Note.

5.8  The Paying Agent shall promptly reimburse each other Paying Agent, if
     applicable, for payments in respect of the Notes properly made by it in
     accordance with this Agreement and the Notes.

6.   CANCELLATION, DESTRUCTION, RECORDS AND CUSTODY

6.1  All Notes which mature and are paid in full shall be cancelled forthwith by
     the Paying Agent through which they are paid. In the case of a Paying Agent
     other than the Paying Agent specified above, it shall as soon as
     practicable give all relevant details and forward the cancelled Notes to
     such Paying Agent. The Paying Agent shall, unless the Issuer otherwise
     directs, destroy the cancelled Notes, and as soon as reasonably practicable
     after each Maturity Date, furnish the Issuer with particulars of the
     aggregate principal amount of the Notes maturing on such Maturity Date
     which have been destroyed since the last certification so furnished and the
     series and serial numbers of all such Notes.

6.2  The Paying Agent shall keep and make available at all reasonable times to
     the Issuer a full and complete record of all Notes and of their issue,
     payment, cancellation and destruction and, in the case of Global Notes,
     their exchange for Definitive Notes but the Paying Agent shall have no
     liability for any failure to comply herewith if the information required to
     be provided to it has not been provided by the Issuer, the Issuing Agent
     or, if applicable, any other Paying Agent.

6.3  The Issuing Agent shall maintain in safe custody all forms of Notes
     delivered to and held by it hereunder and shall ensure that the same are
     only completed, authenticated and delivered or made available in accordance
     with the terms hereof.
<PAGE>

6.4  The Issuer may from time to time with the approval, where appropriate, of
     the Issuing Agent make arrangements as to the replacement of Notes which
     shall have been lost, stolen, mutilated, defaced or destroyed, including
     (without limitation) arrangements as to evidence of title, costs, delivery
     and indemnity.

6.5  The Paying Agent shall make available for inspection during its office
     hours at its specified office copies of this Agreement.

7.   Appointment and Duties of the Calculation Agent

7.1  The Issuer appoints the Paying Agent at its specified office as Calculation
     Agent in relation to those Notes in respect of which it has agreed to act
     as Calculation Agent.

7.2  The Paying Agent accepts its appointment as Calculation Agent in relation
     to such Notes and agrees to comply with the provisions of this Agreement
     and the relevant Notes. The Paying Agent acknowledges and agrees that it
     shall be appointed as Calculation Agent in respect of each issue of Index
     Linked Notes unless the Dealer (or one of the Dealers) through whom such
     Notes are issued has agreed with the Issuer to act as Calculation Agent or
     the Issuer otherwise agrees to appoint another institution as Calculation
     Agent.

7.3  The Calculation Agent shall in respect of each issue of Index Linked Notes
     in relation to which it is appointed as such, determine the redemption
     amount of, and/or, if applicable, the amount of interest payable on, each
     Index Linked Note in accordance with the redemption calculation applicable
     thereto.

7.4  The Calculation Agent shall as soon as it has made its determination as
     provided for in Clause 7.3 above (and, in any event, no later than the
     close of business on the date on which the determination is made) notify
     the Issuer and the Principal Paying Agent (if other than the Calculation
     Agent) of the redemption amount and/or, if applicable the amount of
     interest so payable.

8.   Fees and Expenses

8.1  The Issuer undertakes to pay such fees and expenses in respect of the
     Agents' services under this Agreement as are set out in a letter of even
     date herewith from the Paying Agent to, and countersigned by, the Issuer at
     the time and in accordance with the manner stated therein.

8.2  The Issuer undertakes to pay all stamp and other documentary taxes, fees or
     duties, if any, to which this Agreement or the issue of any Notes may be
     subject.

8.3  The Issuer undertakes to pay on demand all reasonable out-of-pocket
     expenses (including legal, advertising and postage expenses) properly
     incurred by any of the Agents in connection with their services under this
     Agreement.

9.   Terms of Appointment

9.1  Prior to the first issue of the Notes, the Issuer shall supply to the
     Issuing Agent and the Paying Agent copies of all condition precedent
     documents required to be delivered pursuant to the Dealer Agreement.
<PAGE>

9.2  Each Agent and the Calculation Agent shall be obliged to perform such
     duties and only such duties as are herein specifically set forth, and no
     implied duties or obligations shall be read into this Agreement against any
     Agent or the Calculation Agent.

9.3  Each Agent and (in the case of sub-clauses 9.3.4, 9.3.5 and 9.3.6) the
     Calculation Agent may, in connection with its services hereunder:

     9.3.1     except as ordered by a court of competent jurisdiction or as
               required by law and notwithstanding any notice to the contrary or
               any memorandum thereon, treat the bearer of any Note as the
               absolute owner thereof and make payments thereon accordingly;

     9.3.2     assume that the terms of each Note as issued are correct;

     9.3.3     refer any question relating to the ownership of any Note or the
               adequacy or sufficiency of any evidence supplied in connection
               with the replacement of any Note to the Issuer for determination
               by the Issuer and rely upon any determination so made;

     9.3.4     rely upon the terms of any notice, communication or other
               document reasonably believed by it to be genuine and be protected
               and incur no liability for or in respect of action taken, omitted
               or suffered in reliance upon any instruction, request or order
               from the Issuer or any notice, resolution, direction, consent,
               certificate, affidavit, statement, facsimile or other paper or
               document which it reasonably believes to be genuine and to have
               been delivered, signed or sent by the proper party or parties or
               upon written instructions from the Issuer;

     9.3.5     engage and pay for the advice or services of any lawyers or other
               experts whose advice or services may to it seem necessary and
               rely upon any advice so obtained (and such Agent or, as the case
               may be, the Calculation Agent shall be protected and shall incur
               no liability as against the Issuer in respect of any action
               taken, or suffered to be taken, in accordance with such advice
               and in good faith); and

     9.3.6     treat itself as being released from any obligation to take any
               action hereunder which it reasonably expects will result in any
               expense or liability to it, the payment of which within a
               reasonable time is not, in its reasonable opinion, assured to it.

9.4  Notwithstanding anything to the contrary expressed or implied herein, none
     of the Agents nor the Calculation Agent shall, in connection with their or
     its services hereunder, be under any fiduciary duty towards any person
     other than the Issuer, be responsible for or liable in respect of the
     authorisation, validity or legality of any Note issued or paid by it
     hereunder or any act or omission of any other person (including, without
     limitation, any other party hereto and, in the case of the Calculation
     Agent, any bank from whom any quote may have been obtained) or be under any
     obligation towards any person other than the Issuer and, in the case of the
     Agents, any other Agent. The Paying Agent shall not be under any liability
     for interest on any moneys at any time received by it pursuant to any
     provisions of this Agreement or of the Notes.
<PAGE>

9.5  Each of the Agents and the Calculation Agent may purchase, hold and dispose
     of Notes and may enter into any transaction (including, among others, any
     depositary, trust or agency transaction) with any holders or owners of any
     Notes or with any other party hereto in the same manner as if it had not
     been appointed as the agent of the Issuer in relation to the Notes.

9.6  The Issuer shall indemnify each Agent and the Calculation Agent (each, an
     "indemnified party") against any claim, demand, action, liability, damages,
     cost, loss or expense (including, without limitation, reasonable legal fees
     and any applicable value added tax) which it may incur, other than such
     costs and expenses as are separately agreed to be reimbursed out of the
     fees payable under Clause 8 and otherwise than by reason of its own
     negligence or wilful misconduct or breach of the terms of this Agreement,
     as a result or arising out of or in relation to its acting as the agent of
     the Issuer in relation to the Notes. The indemnity in this Clause 9 shall
     continue in full force and effect notwithstanding completion of any
     arrangements for the subscription and issue of the ECP Notes or termination
     of this Agreement.

9.7  Except in the case of its gross negligence or wilful default, the Agents
     shall not be liable for any act or omission under this Agreement or if any
     Note shall be lost, stolen, destroyed or damaged. Under no circumstances
     shall the Agents be liable for any consequential or special loss, howsoever
     caused or arising.

10.  Changes in Agents

10.1 Any Agent may resign its appointment hereunder at any time by giving to the
     Issuer and the Issuer may terminate the appointment of any Agent by giving
     to such Agent, at least 45 days' written notice to that effect, provided
     that no such resignation or termination of the appointment of the Principal
     Paying Agent or the Issuing Agent shall take effect until a successor has
     been appointed by the Issuer.

10.2 The Issuer agrees with each Agent that if, by the day falling 10 days
     before the expiry of any notice under Clause 10.1, the Issuer has not
     appointed a replacement Agent, then the relevant Agent shall be entitled,
     on behalf of the Issuer to appoint in its place any reputable financial
     institution of good standing and the Issuer shall not unreasonably object
     to such appointment.

10.3 If any Agent merges with or is consolidated with, or sells or otherwise
     transfers all or substantially all of its assets and business to any
     person, then on the date when the merger, consolidation or transfer becomes
     effective, that person shall become the successor to such Agent under this
     Agreement without the execution or filing of any paper or any further act
     on the part of the parties to this Agreement, unless otherwise required by
     the Issuer. After that date, all references to this Agreement to the
     relevant Agent shall be deemed to be references to the relevant person.

11.  Modification

     This Agreement may be amended by further agreement among the parties hereto
     and without the consent of holders of the Notes.
<PAGE>

12.  Notices

12.1 All notices and other communications hereunder shall, save as otherwise
     provided in this Agreement, be made in writing and in English (by letter or
     fax) and shall be sent to the intended recipient at the address or fax
     number and marked for the attention of the person (if any) from time to
     time designated by that party to the other parties hereto for such purpose.
     The initial address and fax number so designated by each party are set out
     on the signature page of this Agreement.

12.2 Any communication from any party to any other under this Agreement shall be
     effective if sent by letter or fax, upon receipt by the addressee provided
     that any such notice or other communication which would otherwise take
     effect after 4.00 p.m. on any particular day shall not take effect until
     10.00 a.m. on the immediately succeeding business day in the place of the
     addressee.

13.  Law and Jurisdiction

13.1 This Agreement is governed by, and shall be construed in accordance with
     the laws of the State of New York.

13.2 Each of the parties hereto agrees for the benefit of the Agents and the
     Calculation Agent that the United States federal courts located in the
     Borough of Manhattan or the courts of the State of New York located in the
     Borough of Manhattan shall have jurisdiction to hear and determine any
     suit, action or proceedings, and to settle any disputes, which may arise
     out of or in connection with this Agreement (respectively, "Proceedings"
     and "Disputes") and, for such purposes, irrevocably submits to the
     jurisdiction of such courts.

13.3 The Issuer irrevocably waives any objection which it might now or hereafter
     have to the courts of New York being nominated as the forum to hear and
     determine any Proceedings and to settle any Disputes, and agrees not to
     claim that any such court is not a convenient or appropriate forum.

13.4 The Issuer agrees that the process by which any Proceedings in the State of
     New York are begun may be served on it by being delivered to CT
     Corporations System at 111 Eight Avenue, New York, NY 10011, U.S.A. or, if
     different, its principal place of business in the County of New York for
     the time being. If such person is not or ceases to be effectively appointed
     to accept service of process on the Issuer's behalf, the Issuer shall, on
     the written demand of any Agent or the Calculation Agent, appoint a further
     person in the County of New York to accept service of process on its behalf
     and, failing such appointment within 15 days, any Agent or the Calculation
     Agent shall be entitled to appoint such a person by written notice to the
     Issuer. Nothing in this sub-clause shall affect the right of any Agent or
     the Calculation Agent to serve process in any other manner permitted by
     law.

13.5 The submission to the jurisdiction of the courts of New York shall not (and
     shall not be construed so as to) limit the right of any Agent or the
     Calculation Agent to take Proceedings in any other court of competent
     jurisdiction, nor shall the taking of Proceedings in any one or more
     jurisdictions preclude the taking of Proceedings in any other jurisdiction
     (whether concurrently or not) if and to the extent permitted by law.
<PAGE>

14.  Counterparts

     This Agreement may be signed in any number of counterparts, all of which
     when taken together shall constitute a single agreement.

AS WITNESS the hands of the duly authorised representatives of the parties
hereto the day and year first before written.
<PAGE>

                                  SCHEDULE 1
                     Form of Confirmation to Issuing Agent

To:         Bank One, NA

Attention:  Corporate Trust

                                STEELCASE INC.

             Issue and Paying Agency Agreement dated 20 June 2001

We hereby confirm our telephone instruction to prepare, complete, authenticate
and issue [Global/Sterling Definitive] Notes (in accordance with the terms of
the above Issue and Paying Agency Agreement) and instruct you to:

(a)  Credit the account of [name of Dealer] with [Euroclear/Clearstream,
     Luxembourg]/1/ with the following underlying Notes:

     (i)    Currency and Amount:  [          ]

     (ii)   Issue Date:  [          ]

     (iii)  Maturity Date:  [         ]

     (iv)   Yield/Interest Rate:  [         ]

     against payment of [          ]

(b)  Hold the following Sterling Definitive Notes available for collection by
     [name of Dealer]:

     (i)    Amount:  (Pounds)[          ]

     (ii)   Issue Date:  [          ]

     (iii)  Maturity Date:  [          ]

     (iv)   Yield/Interest Rate:  [         ]

     against an undertaking from such Dealer or of the paying bank for such
     Dealer to make payment of [          ] on the Issue Date.

Date:

STEELCASE INC.

By:
<PAGE>

                                  SCHEDULE 2
                                 Forms of Note

                            Form of ECP Global Note
                   (Interest Bearing/Discounted/Index-Linked)

ANY UNITED STATES PERSON (AS DEFINED IN SECTION 7701 OF THE INTERNAL REVENUE
CODE) WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED
STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTION 165(j) AND
1287(a) OF THE INTERNAL REVENUE CODE.

BY ACCEPTING THIS OBLIGATION, THE HOLDER REPRESENTS AND WARRANTS THAT IT IS NOT
A UNITED STATES PERSON (OTHER THAN AN EXEMPT RECIPIENT DESCRIBED IN SECTION
6049(b)(4) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS THEREUNDER) AND THAT
IT IS NOT ACTING FOR OR ON BEHALF OF A UNITED STATES PERSON (OTHER THAN AN
EXEMPT RECIPIENT DESCRIBED IN SECTION 6049(b)(4) OF THE INTERNAL REVENUE CODE
AND THE REGULATIONS THEREUNDER).

   [This ECP Global Note constitutes Interest Bearing/Discounted/Index-Linked*
 Commercial Paper issued in accordance with Regulations made under Section 4 of
                             the Banking Act 1987]/1/

<TABLE>
<CAPTION>
                                                STEELCASE INC.
<S>                                                        <C>
No: _____________________________________________          Series No.: ___________________________________________

Issued in London on: ____________________________          Maturity Date: ________________________________________

Specified Currency: _____________________________          Denomination: _________________________________________

Nominal Amount: _________________________________          Reference Rate: LIBOR/EURIBOR/2/
(words and figures if a Sterling Note)

Calculation Agent:/3/____________________________          Minimum Redemption Amount: (Pounds)100,000/4/ _________
(Principal)                                                (one hundred thousand pounds)

Fixed Interest Rate:/5/ _______________%per annum          Margin:/6/ ____________________________________________%
-------------------------------------------------------------------------------------------------------------------
</TABLE>

*    Delete as appropriate. For ECP Global Notes in respect of which the Issuer
     accepts the issue proceeds in the United Kingdom (e.g. Sterling Notes), the
     title must accurately reflect any unusual features of the Note to comply
     with paragraph 9(c) of the Bank of England Notice dated 18 March 1997.

/1/  Applicable only if an ECP Global Note in respect of which the Issuer
     accepts the issue proceeds in the United Kingdom (e.g. Sterling Notes)
     before the Financial Services and Markets Act 2000 is brought into force.

/2/  Delete as appropriate. The reference rate will be LIBOR unless this ECP
     Global Note is denominated in euro and the Issuer and the relevant Dealer
     agree that the reference rate should be EURIBOR.

/3/  Complete for index-linked ECP Notes only.

/4/  Delete if a not Sterling ECP Note.
<PAGE>

<TABLE>
<S>                                                        <C>
Calculation Agent:/6/ __________________________           Interest Payment Dates:/7/ ______________________________
</TABLE>

--------------------------------------------------------------------------------

/5/   Complete for fixed rate interest bearing ECP Notes only.

/6/   Complete for floating rate interest bearing ECP Notes only.

/7/   Complete for interest bearing ECP Notes.
<PAGE>

1.    For value received, Steelcase Inc. (the "Issuer") promises to pay to the
      bearer of this ECP Global Note on the above-mentioned Maturity Date:

      (a)  the above-mentioned Nominal Amount; or

      (b)  if this ECP Global Note is index-linked, an amount (representing
           either principal or interest) to be calculated by the Calculation
           Agent named above, in accordance with the redemption or interest
           calculation, a copy of which is attached to this ECP Global Note
           and/or is available for inspection at the offices of the Paying Agent
           referred to below,

      together with interest thereon at the rate and at the times (if any)
      specified herein.

      All such payments shall be made in accordance with an issuing and paying
      agency agreement (ECP Notes) dated 20 June 2001 between the Issuer, the
      issuing agent and any paying agents referred to therein, a copy of which
      is available for inspection at the offices of Bank One, NA (the "Paying
      Agent") at 27 Leadenhall Street, London EC3A 1AA, England, and subject to
      and in accordance with the terms and conditions set forth below. All such
      payments shall be made upon presentation and surrender of this ECP Global
      Note at the offices of the Paying Agent referred to above by transfer to
      an account denominated in the above-mentioned Specified Currency
      maintained by the bearer in the principal financial centre in the country
      of that currency or, in the case of an ECP Global Note denominated in
      euro, by euro cheque drawn on, or by transfer to a euro account (or any
      other account to which euro may be credited or transferred) maintained by
      the payee with, a bank in the principal financial centre of any member
      state of the European Union.

2.    This ECP Global Note is issued in representation of an issue of ECP Notes
      in the above-mentioned aggregate Nominal Amount.

3.    All payments in respect of this ECP Global Note shall be made without set-
      off, counterclaim, fees, liabilities or similar deductions and free and
      clear of, and without deduction or withholding for or on account of,
      taxes, levies, duties, assessments or charges of any nature now or
      hereafter imposed, levied, collected, withheld or assessed in any
      jurisdiction (each a "Relevant Jurisdiction") through, in or from which
      such payments are made or any political subdivision or taxing authority of
      or in any of the foregoing ("Taxes"). If the Issuer or any agent thereof
      is required by law or regulation to make any deduction or withholding for
      or on account of Taxes as a result of a change in U.S. Federal income tax
      law, the Issuer shall, to the extent permitted by applicable law or
      regulation, pay such additional amounts as shall be necessary in order
      that the net amounts received by the bearer of this ECP Global Note or the
      holder or beneficial owner of any interest herein or rights in respect
      hereof after such deduction or withholding shall equal the amount which
      would have been receivable hereunder in the absence of such deduction or
      withholding, except that no such additional amounts shall be payable:

      (a)  any Taxes that would have not been so imposed, levied, collected,
           withheld or assessed but for (i) the existence of any present or
           former connection between such holder (or between a fiduciary,
           settlor, member or shareholder beneficiary
<PAGE>

           of, or possessor of a power over, such holder, if such holder is an
           estate, trust partnership or corporation) and the United States
           including, without limitation, such holder (or such fiduciary,
           settlor, beneficiary, member, shareholder or possessor) being or
           having been a citizen or resident thereof or being or having been
           engaged in trade or business or present therein or having or having
           had a permanent establishment therein, or, if the United States is
           the Relevant Jurisdiction, having not been a United States Alien (as
           herein after defined) or (ii) such holders' past or present status as
           a personal holding company, foreign personal holding company or
           passive foreign investment company with respect to the United States
           or as a corporation that accumulates earnings to avoid United States
           federal income tax;

     (b)   in respect of any deduction or withholding which would not have been
           required but for the presentation by the bearer of this ECP Global
           Note for payment on a date more than 15 days after the Maturity Date
           or, if applicable, the relevant Interest Payment Date or (in either
           case) the date on which payment hereof is duly provided for,
           whichever occurs later;

     (c)   any estate, inheritance, gift, sales, transfer or personal property
           tax or any similar tax, assessment or government charge; or

     (d)   any Taxes that would not have been imposed but for a failure of such
           holder to comply with applicable certification, information,
           documentation or other reporting requirements concerning the
           nationality, residence, identity or connection with the Relevant
           Jurisdiction of the holder or beneficial owner of this ECP Global
           Note if such compliance is required by statute or regulation of the
           Relevant Jurisdiction as a precondition to relief or exemption from
           withholding or deduction of all or part of such Taxes. Nor shall
           additional interest be paid with respect to a payment on this ECP
           Global Note to a holder who is in fiduciary or partnership or other
           than the sole beneficial owner of such payment to the extent a
           beneficiary or settlor with respect to such a fiduciary or a member
           of such partnership or a beneficial owner would not have been
           entitled to the additional interest had such beneficiary, settlor,
           member or beneficial owner been the holder of this ECP Global Note.
           The term "United States Alien" means any person who, as to the United
           States, is a foreign corporation, a non-resident alien individual, a
           non-resident alien fiduciary of a foreign estate or trust, or a
           foreign partnership one or more of the members of which is, as to the
           United States, a foreign corporation, a non-resident alien individual
           or a non-resident alien fiduciary of a foreign estate or trust.

4.   The payment obligation of the Issuer represented by this ECP Global Note
     constitutes and at all times shall constitute a direct and unsecured
     obligation of the Issuer ranking (other than in the case of obligations
     preferred by mandatory provision of law) pari passu without any preference
     with all present and future unsecured and unsubordinated indebtedness of
     the Issuer.

5.   If the Maturity Date or, if applicable, the relevant Interest Payment Date
     is not a Payment Business Day (as defined herein) payment in respect hereof
     will not be made and credit
<PAGE>

     or transfer instructions shall not be given until the next following
     Payment Business Day and the bearer of this ECP Global Note shall not be
     entitled to any interest or other sums in respect of such postponed
     payment.

     As used in this ECP Global Note:

     "Payment Business Day" means any day other than a Saturday or Sunday which
     is both (A) a day on which commercial banks and foreign exchange markets
     settle payments and are open for general business (including dealings in
     foreign exchange and foreign currency deposits) in the relevant place of
     presentation, and (B) either (i) if the above-mentioned Specified Currency
     is any currency other than euro, a day on which commercial banks and
     foreign exchange markets settle payments and are open for general business
     (including dealings in foreign exchange and foreign currency deposits) in
     both London and the principal financial centre of the country of the
     relevant Specified Currency (which, if the Specified Currency is Australian
     dollars, shall be Sydney) or (ii) if the above-mentioned Specified Currency
     is euro, a day which is a TARGET Business Day; and

     "TARGET Business Day" means a day on which the Trans-European Automated
     Real-time Gross Settlement Express Transfer (TARGET) System, or any
     successor thereto, is operating credit or transfer instructions in respect
     of payments in euro.

6.   This ECP Global Note is negotiable and, accordingly, title hereto shall
     pass by delivery and the bearer shall be treated as being absolutely
     entitled to receive payment upon due presentation hereof (notwithstanding
     any notation of ownership or other writing thereon or notice of any
     previous loss or theft thereof).

7.   This ECP Global Note is issued in respect of an issue of ECP Notes of the
     Issuer and is exchangeable in whole (but not in part only) for duly
     executed and authenticated bearer ECP Notes in definitive form (whether
     before, on or, subject as provided below, after the Maturity Date):

     (a)  if Euroclear Bank S.A./N.V. as operator of the Euroclear System or
          Clearstream Banking, societe anonyme, Luxembourg are closed for a
          continuous period of 14 days (other than by reason of public
          holidays); or

     (b)  if default is made in the payment of any amount payable in respect of
          this ECP Global Note; or

     (c)  at the request of the bearer of this ECP Global Note.

     Upon or, in the case of (c) above, on the tenth London Banking Day (as
     defined below) following presentation and surrender of this ECP Global Note
     during normal business hours to the Issuer at the offices of the Paying
     Agent (or to any other person or at any other office outside the United
     States as may be designated in writing by the Issuer to the bearer), the
     Paying Agent shall authenticate and deliver, in exchange for this ECP
     Global Note, bearer definitive notes denominated in the above-mentioned
     Specified Currency in an aggregate nominal amount equal to the Nominal
     Amount of this ECP Global Note.
<PAGE>

8.   If, upon the occurrence of an event described in paragraph 7 and following
     such surrender, Definitive ECP Notes are not issued in full exchange for
     this ECP Global Notes before 5.00 p.m. (London time) on the thirtieth day
     after surrender, this ECP Global Note (including the obligation hereunder
     to issue Definitive ECP Notes) will become void and the bearer will have no
     further rights under this ECP Global Note (but without prejudice to the
     rights which any person may have pursuant to paragraph 9 below).

9.   Interests in this ECP Global Note will be transferable in accordance with
     the rules and procedures for the time being of Euroclear or Clearstream,
     Luxembourg. Each person who is shown in the records of Euroclear or
     Clearstream, Luxembourg as entitled to a particular number of Definitive
     ECP Notes by way of an interest in this ECP Global Note will be treated by
     the Issuer, the Guarantor and the Agent as the holder of such number of
     Definitive ECP Notes, and the expression "Noteholder" shall be construed
     accordingly. For purposes of this ECP Global Note, the securities account
     records of Euroclear or Clearstream, Luxembourg shall, in the absence of
     manifest error, be conclusive evidence of the identity of the Noteholders
     and of the nominal amount of the ECP Notes represented by this ECP Global
     Note credited to the securities accounts of such Noteholders. Any statement
     issued by Euroclear or Clearstream, Luxembourg to any Noteholder relating
     to a specified ECP Note or ECP Notes credited to the securities account of
     such Noteholder and stating the nominal amount of such ECP Note or ECP
     Notes and certified by Euroclear or Clearstream, Luxembourg to be a true
     record of such securities account shall, in the absence of manifest error,
     be conclusive evidence of the records of Euroclear or Clearstream,
     Luxembourg for the purposes of the next preceding sentence (but without
     prejudice to any other means of producing such records in evidence).
     Notwithstanding any provisions to the contrary contained in this ECP Global
     Note, the Issuer irrevocably agrees, for the benefit of such Noteholders
     and their successors and assigns, that each Noteholder or its successors or
     assigns may without the consent and to the exclusion of the bearer hereof,
     file any claim, take any action or institute any proceeding to enforce,
     directly against the Issuer, the obligation of the Issuer hereunder to pay
     any amount due or to become due in respect of each ECP Note represented by
     this ECP Global Note which is credited to such Noteholder's securities
     account with Euroclear or Clearstream, Luxembourg without the production of
     this ECP Global Note, provided that the bearer hereof shall not theretofore
     have filed a claim, taken action or instituted proceedings to enforce the
     same in respect of such ECP Notes.

10.  If this is an interest bearing ECP Global Note, then:

     (a)  notwithstanding the provisions of paragraph 1 above, if any payment of
          interest in respect of this ECP Global Note falling due for payment
          prior to the above-mentioned Maturity Date remains unpaid on the
          fifteenth day after falling so due, the amount referred to in part (a)
          or (b) (as the case may be) of paragraph 1 shall be payable on such
          fifteenth day; and

     (b)  upon each payment of interest (if any) prior to the Maturity Date in
          respect of this ECP Global Note, the Schedule hereto shall be duly
          completed by the Paying Agent to reflect such payment.
<PAGE>

11.  If this is a fixed rate interest bearing ECP Global Note, interest shall be
     calculated on the Nominal Amount as follows:

     (a)  interest shall be payable on the Nominal Amount in respect of each
          successive Interest Period (as defined below) from (and including) the
          Issue Date to (and excluding) the Maturity Date only, in arrear on the
          relevant Interest Payment Date, on the basis of the actual number of
          days in such Interest Period and a year of 360 days or, if this ECP
          Global Note is denominated in Sterling, 365 days at the above-
          mentioned Interest Rate with the resulting figure being rounded to the
          nearest amount of the above-mentioned Specified Currency which is
          available as legal tender in the country or countries (in the case of
          the euro) of the Specified Currency (with halves being rounded
          upwards); and

     (b)  the period beginning on the Issue Date and ending on the first
          Interest Payment Date and each successive period beginning (and
          including) on an Interest Payment Date and ending (and excluding) on
          the next succeeding Interest Payment Date is an "Interest Period" for
          the purposes of this paragraph.

12.  If this is a floating rate interest bearing ECP Global Note, interest shall
     be calculated on the Nominal Amount as follows:

     (a)  in the case of an ECP Global Note which specifies LIBOR as the
          Reference Rate on its face, the Rate of Interest will be the aggregate
          of LIBOR and the above-mentioned Margin (if any) above or below LIBOR.
          Interest shall be payable on the Nominal Amount in respect of each
          successive Interest Period (as defined below) from (and including) the
          Issue Date to (and excluding) the Maturity Date only, in arrear on the
          relevant Interest Payment Date, on the basis of the actual number of
          days in such Interest Period and a year of 360 days or, if this ECP
          Global Note is denominated in Sterling, 365 days.

          As used in this ECP Global Note:

          "LIBOR" shall be equal to the rate defined as "LIBOR-BBA" in respect
          of the above-mentioned Specified Currency (as defined in the 2000 ISDA
          Definitions published by the International Swaps and Derivatives
          Association, Inc., as amended updated or replaced as at the date of
          this ECP Global Note, (the "ISDA Definitions")) as at 11.00 a.m.
          (London time) or as near thereto as practicable on the second London
          Banking Day before the first day of the relevant Interest Period or,
          if this ECP Global Note is denominated in Sterling, on the first day
          thereof (a "LIBOR Interest Determination Date"); and

          "London Banking Day" shall mean a day on which commercial banks are
          open for general business (including dealings in foreign exchange and
          foreign currency deposits) in London;

     (b)  in the case of an ECP Global Note which specifies EURIBOR as the
          Reference Rate on its face, the Rate of Interest will be the aggregate
          of EURIBOR and the above-mentioned Margin (if any) above or below
          EURIBOR. Interest shall be payable on the Nominal Amount in respect of
          each successive Interest Period
<PAGE>

          (as defined below) from (and including) the Issue Date to (and
          excluding) the Maturity Date only, in arrear on the relevant Interest
          Payment Date, on the basis of the actual number of days in such
          Interest Period and a year of 360 days.

          As used in this ECP Global Note, "EURIBOR" shall be equal to EUR-
          EURIBOR-Telerate (as defined in the ISDA Definitions) as at 11.00 a.m.
          (Brussels time) or as near thereto as practicable on the second TARGET
          Business Day before the first day of the relevant Interest Period (a
          "EURIBOR Interest Determination Date");

     (c)  the Calculation Agent will, as soon as practicable after 11.00 a.m.
          (London time) on each LIBOR Interest Determination Date or 11.00 a.m.
          (Brussels time) on each EURIBOR Interest Determination Date (as the
          case may be), determine the Rate of Interest and calculate the amount
          of interest payable (the "Amount of Interest") for the relevant
          Interest Period. "Rate of Interest" means (A) if the Reference Rate is
          EURIBOR, the rate which is determined in accordance with the
          provisions of paragraph 11(b), and (B) in any other case, the rate
          which is determined in accordance with the provisions of paragraph
          11(a). The Amount of Interest shall be calculated by applying the Rate
          of Interest to the Nominal Amount of one Note of each denomination,
          multiplying such product by the actual number of days in the Interest
          Period concerned divided by 360 or, if this ECP Global Note is
          denominated in Sterling, by 365 and rounding the resulting figure to
          the nearest amount of the above-mentioned Specified Currency which is
          available as legal tender in the country or countries (in the case of
          the euro) of the Specified Currency (with halves being rounded
          upwards). The determination of the Rate of Interest and the Amount of
          Interest by the Calculation Agent named above shall (in the absence of
          manifest error) be final and binding upon all parties;

     (d)  a certificate of the Calculation Agent as to the Rate of Interest
          payable hereon for any Interest Period shall be conclusive and binding
          as between the Issuer and the bearer hereof;

     (e)  the period beginning on (and including) the Issue Date and ending on
          (and excluding) the first Interest Payment Date and each successive
          period beginning on an Interest Payment Date and ending on the next
          succeeding Interest Payment Date is called an "Interest Period" for
          the purposes of this paragraph; and

     (f)  the Issuer will procure that a notice specifying the Rate of Interest
          payable in respect of each Interest Period be published as soon as
          practicable after the determination of the Rate of Interest. Such
          notice will be delivered to Euroclear Bank S.A./N.V. as operator of
          the Euroclear System and/or Clearstream Banking, societe anonyme,
          Luxembourg or, if this ECP Global Note has been exchanged for bearer
          definitive ECP Notes pursuant to paragraph 7, will be published in a
          leading English language daily newspaper published in London (which is
          expected to be the Financial Times).
<PAGE>

13.  If the issue proceeds of this ECP Global Note are accepted by the Issuer in
     the United Kingdom:

     (a)  the Nominal Amount or Minimum Redemption Amount (as applicable) shall
          be not less than (Pounds)100,000; and

     (b)  the Issuer confirms (a) that this ECP Global Note represents
          commercial paper issued under an exemption from the Banking Act 1987,
          (b) that the Issuer is not an institution authorised under the Banking
          Act 1987 or a European authorised institution and (c) that repayment
          of the principal and payment of any interest or premium in connection
          with this ECP Global Note has not been guaranteed.

14.  Instructions for payment must be received at the offices of the Paying
     Agent referred to above together with this ECP Global Note as follows:

     (a)  if this ECP Global Note is denominated in Australian dollars, New
          Zealand dollars, Hong Kong dollars or Japanese Yen, at least two
          Business Days prior to the relevant payment date;

     (b)  if this ECP Global Note is denominated in United States dollars,
          Canadian dollars or Sterling, on or prior to the relevant payment
          date; and

     (c)  in all other cases, at least one Business Day prior to the relevant
          payment date.

     As used in this paragraph, "Business Day" means:

     (i)  a day other than a Saturday or Sunday on which commercial banks are
          open for general business (including dealings in foreign exchange and
          foreign currency deposits) in London; and

     (ii) in the case of payments in euro, a TARGET Business Day and, in all
          other cases, a day on which commercial banks are open for general
          business (including dealings in foreign exchange and foreign currency
          deposits) in the principal financial centre in the country of the
          above-mentioned Specified Currency.

15.  This ECP Global Note shall not be validly issued unless manually
     authenticated by Bank One, NA.

16.  This ECP Global Note is governed by, and shall be construed in accordance
     with, the laws of the State of New York.

17.  (a)  Appropriate forum: The Issuer irrevocably agrees that any suit, action
          or proceeding arising out of or relating to this ECP Global Note
          ("Proceedings") may be instituted in the courts of the State of New
          York or the federal courts sitting in the Borough of Manhattan, City
          of New York, State of New York. The issuer irrevocably waives any
          objection which it may have now or hereafter to the laying of the
          venue of any Proceedings and any claim that such Proceedings have been
          brought in any inconvenient or inappropriate forum, and irrevocably
          submits generally and unconditionally to the jurisdiction of any such
          court in any Proceedings. The Issuer further irrevocably agrees that a
<PAGE>

          judgment in any Proceedings brought in such courts may be enforced in
          the courts of any other jurisdiction.

    (b)   Service of process:  Nothing herein contained shall limit the right of
          any party hereto to initiate Proceedings in any other court of
          competent jurisdiction; nor shall the initiation of Proceedings in any
          one or more jurisdictions preclude taking Proceedings in any other
          jurisdiction.

    (c)   Non-exclusivity:  The Issuer hereby irrevocably appoints CT
          Corporation Systems, 1633 Broadway, New York, New York 10019, as its
          agent to accept service of process in any Proceedings in New York City
          in connection herewith.

AUTHENTICATED by                                Signed on behalf of:
BANK ONE, NA                                    STEELCASE INC
without recourse, warranty or liability and
for authentication purposes only

By: __________________________________          By: ___________________________
(Authorised Signatory)                          (Authorised Signatory)

By: __________________________________          By: ___________________________
(Authorised Signatory)                          (Authorised Signatory)

<PAGE>

                                   SCHEDULE
                             Payments of Interest

The following payments of interest in respect of this ECP Global Note have been
made:

<TABLE>
<CAPTION>
Date                Payment          Payment             Amount                 Notation
Made                From             To                  Paid                   on behalf
                                                                                of Paying
                                                                                Agent
<S>                 <C>              <C>                 <C>                    <C>
--------------      ----------       -------------       ----------------       --------------
--------------      ----------       -------------       ----------------       --------------
--------------      ----------       -------------       ----------------       --------------
--------------      ----------       -------------       ----------------       --------------
--------------      ----------       -------------       ----------------       --------------
</TABLE>
<PAGE>

                 Pro-forma Redemption or Interest Calculation
                        (Index linked ECP Global Note)

This is the Redemption or Interest Calculation relating to the attached index-
linked ECP Global Note:

Calculation Date:             _____________________________

Calculation Agent:            _____________________________

/1/[Minimum Redemption
Amount (per Note):            (Pounds)100,000 (for Sterling Notes only)]

Redemption Amount:            to be calculated by the Calculation Agent as
                              follows:

                              [Insert particulars of index and redemption
                              calculation]

                              [Indicate whether the calculation refers to
                              principal or coupon]

Confirmed:

__________________________
For STEELCASE INC.

Note:   The Calculation Agent is required to notify the Principal Paying Agent
        for the Notes of the Redemption Amount immediately upon completing its
        calculation of the same.

________________________________________________________________________________
/1/  Delete if not a Sterling linked Note
<PAGE>

                          Form of ECP Definitive Note
                  (Interest Bearing/Discounted/Index-Linked)
                                (Non-Sterling)*

ANY UNITED STATES PERSON (AS DEFINED IN SECTION 7701 OF THE INTERNAL REVENUE
CODE) WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED
STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTION 165(j) AND
1287(a) OF THE INTERNAL REVENUE CODE.

BY ACCEPTING THIS OBLIGATION, THE HOLDER REPRESENTS AND WARRANTS THAT IT IS NOT
A UNITED STATES PERSON (OTHER THAN AN EXEMPT RECIPIENT DESCRIBED IN SECTION
6049(b)(4) OF THE INTERNAL REVENUE CODE AND THE REGULATIONS THEREUNDER) AND THAT
IT IS NOT ACTING FOR OR ON BEHALF OF A UNITED STATES PERSON (OTHER THAN AN
EXEMPT RECIPIENT DESCRIBED IN SECTION 6049(b)(4) OF THE INTERNAL REVENUE CODE
AND THE REGULATIONS THEREUNDER).

                                   STEELCASE INC.

No:__________________________      Series No.: _________________________________

Issued in London on:_________      Maturity Date: ______________________________

Specified Currency:__________      Denomination: _______________________________

Nominal Amount:______________      Reference Rate:/4/____months LIBOR/EURIBOR/1/

Calculation Agent:/2/________      Fixed Interest Rate:/3/___________ %per annum
(Principal)

Margin:/4/___________________ %    Calculation Agent:/4/ _______________________
                                   (Interest)

Interest Payment Dates:/5/____________

________________________________________________________________________________

* This form of definitive note is designed for use where the issue proceeds are
accepted outside the UK. If the issue proceeds are accepted within the UK (e.g.
for sterling issues or, at least potentially, euro issues), the requirements of
the Banking Act 1987 (Exempt Transactions) Regulations 1997 and/or the Bank of
England Notice dated 18 March 1997 and/or the BBA London Good Delivery
requirements will have to be met. For this reason, euro issues almost always
involve settlement outside the UK.

/1/  Delete as appropriate. The reference rate will be LIBOR unless this ECP
     Note is denominated in euro and the Issuer and the relevant Dealer agree
     that the reference rate should be EURIBOR.

/2/  Complete for index-linked ECP Notes only.

/3/  Complete for fixed rate interest bearing ECP Notes only.

/4/  Complete for floating rate interest bearing ECP Notes only.

/5/  Complete for interest bearing ECP Notes.
<PAGE>

1.   For value received, Steelcase Inc. (the "Issuer") promises to pay to the
bearer of this ECP Note on the above-mentioned Maturity Date:

     (a)  the above-mentioned Nominal Amount; or

     (b)  if this ECP Note is index-linked, an amount (representing either
          principal or interest) to be calculated by the Calculation Agent named
          above, in accordance with the redemption or interest calculation, a
          copy of which is attached to this ECP Note and/or is available for
          inspection at the offices of the Paying Agent referred to below,

     together with interest thereon at the rate and at the times (if any)
     specified herein.

     All such payments shall be made in accordance with an issuing and paying
     agency agreement (ECP Notes) dated 20 June 2001 between the Issuer, the
     issuing agent and the paying agents referred to therein, a copy of which is
     available for inspection at the offices of Bank One, NA (the "Paying
     Agent") at 27 Leadenhall Street, London EC3A 1AA, England, and subject to
     and in accordance with the terms and conditions set forth below. All such
     payments shall be made upon presentation and surrender of this ECP Note at
     the offices of the Paying Agent referred to above by transfer to an account
     denominated in the above-mentioned Specified Currency maintained by the
     bearer in the principal financial centre in the country of that currency
     or, in the case of an ECP Note denominated in euro, by euro cheque drawn
     on, or by transfer to a euro account (or any other account to which euro
     may be credited or transferred) maintained by the payee with, a bank in the
     principal financial centre of any member state of the European Union.

2.   All payments in respect of this ECP Note shall be made without set-off,
     counterclaim, fees, liabilities or similar deductions and free and clear
     of, and without deduction or withholding for or on account of, taxes,
     levies, duties, assessments or charges of any nature now or hereafter
     imposed, levied, collected, withheld or assessed in any jurisdiction (each
     a "Relevant Jurisdiction") through, in or from which such payments are made
     or any political subdivision or taxing authority of or in any of the
     foregoing ("Taxes"). If the Issuer or any agent thereof is required by law
     or regulation to make any deduction or withholding for or on account of
     Taxes as a result of a change in U.S. Federal income tax law, the Issuer
     shall, to the extent permitted by applicable law or regulation, pay such
     additional amounts as shall be necessary in order that the net amounts
     received by the bearer of this ECP Note or the holder or beneficial owner
     of any interest herein or rights in respect hereof after such deduction or
     withholding shall equal the amount which would have been receivable
     hereunder in the absence of such deduction or withholding, except that no
     such additional amounts shall be payable:

     (a)  any Taxes that would have not been so imposed, levied, collected,
          withheld or assessed but for (i) the existence of any present or
          former connection between such holder (or between a fiduciary,
          settlor, member or shareholder beneficiary of, or possessor of a power
          over, such holder, if such holder is an estate, trust partnership or
          corporation) and the United States including, without limitation, such
          holder (or such fiduciary, settlor, beneficiary, member, shareholder
          or possessor) being or having been a citizen or resident thereof or
          being or having been engaged in trade or business or present therein
          or having or having had a
<PAGE>

          permanent establishment therein, or, if the United States is the
          Relevant Jurisdiction, having not been a United States Alien (as
          herein after defined) or (ii) such holders' past or present status as
          a personal holding company, foreign personal holding company or
          passive foreign investment company with respect to the United States
          or as a corporation that accumulates earnings to avoid United States
          federal income tax;

     (b)  in respect of any deduction or withholding which would not have been
          required but for the presentation by the bearer of this ECP Note for
          payment on a date more than 15 days after the Maturity Date or, if
          applicable, the relevant Interest Payment Date or (in either case) the
          date on which payment hereof is duly provided for, whichever occurs
          later;

     (c)  any estate, inheritance, gift, sales, transfer or personal property
          tax or any similar tax, assessment or government charge; or

     (d)  any Taxes that would not have been imposed but for a failure of such
          holder to comply with applicable certification, information,
          documentation or other reporting requirements concerning the
          nationality, residence, identity or connection with the Relevant
          Jurisdiction of the holder or beneficial owner of this ECP Note if
          such compliance is required by statute or regulation of the Relevant
          Jurisdiction as a precondition to relief or exemption from withholding
          or deduction of all or part of such Taxes. Nor shall additional
          interest be paid with respect to a payment on this ECP Note to a
          holder who is in fiduciary or partnership or other than the sole
          beneficial owner of such payment to the extent a beneficiary or
          settlor with respect to such a fiduciary or a member of such
          partnership or a beneficial owner would not have been entitled to the
          additional interest had such beneficiary, settlor, member or
          beneficial owner been the holder of this ECP Note. The term "United
          States Alien" means any person who, as to the United States, is a
          foreign corporation, a non-resident alien individual, a non-resident
          alien fiduciary of a foreign estate or trust, or a foreign partnership
          one or more of the members of which is, as to the United States, a
          foreign corporation, a non-resident alien individual or a non-resident
          alien fiduciary of a foreign estate or trust.

3.   The payment obligation of the Issuer represented by this ECP Note
     constitutes and at all times shall constitute a direct and unsecured
     obligation of the Issuer ranking (other than in the case of obligations
     preferred by mandatory provison of law) pari passu without any preference
     with all present and future unsecured and unsubordinated indebtedness of
     the Issuer.

4.   If the Maturity Date or, if applicable, the relevant Interest Payment Date
     is not a Payment Business Day (as defined herein) payment in respect hereof
     will not be made and credit or transfer instructions shall not be given
     until the next following Payment Business Day and the bearer of this ECP
     Note shall not be entitled to any interest or other sums in respect of such
     postponed payment.

     As used in this ECP Note:
<PAGE>

    "Payment Business Day" means any day other than a Saturday or Sunday which
    is both (A) a day on which commercial banks and foreign exchange markets
    settle payments and are open for general business (including dealings in
    foreign exchange and foreign currency deposits) in the relevant place of
    presentation, and (B) either (i) if the above-mentioned Specified Currency
    is any currency other than euro, a day on which commercial banks and foreign
    exchange markets settle payments and are open for general business
    (including dealings in foreign exchange and foreign currency deposits) in
    both London and the principal financial centre of the country of the
    relevant Specified Currency (which, if the Specified Currency is Australian
    dollars, shall be Sydney) or (ii) if the above-mentioned Specified Currency
    is euro, a day which is a TARGET Business Day; and

    "TARGET Business Day" means a day on which the Trans-European Automated
    Real-time Gross Settlement Express Transfer (TARGET) System, or any
    successor thereto, is operating credit or transfer instructions in respect
    of payments in euro.

5.  This ECP Note is negotiable and, accordingly, title hereto shall pass by
    delivery and the bearer shall be treated as being absolutely entitled to
    receive payment upon due presentation hereof (notwithstanding any notation
    of ownership or other writing thereon or notice of any previous loss or
    theft thereof).

6.  If this is an interest bearing ECP Note, then:

    (a)  notwithstanding the provisions of paragraph 1 above, if any payment of
         interest in respect of this ECP Note falling due for payment prior to
         the above-mentioned Maturity Date remains unpaid on the fifteenth day
         after falling so due, the amount referred to in part (a) or (b) (as the
         case may be) of paragraph 1 shall be payable on such fifteenth day; and

    (b)  upon each payment of interest (if any) prior to the Maturity Date in
         respect of this ECP Note, the Schedule hereto shall be duly completed
         by the Paying Agent to reflect such payment.

7.  If this is a fixed rate interest bearing ECP Note, interest shall be
    calculated on the Nominal Amount as follows:

    (a)  interest shall be payable on the Nominal Amount in respect of each
         successive Interest Period (as defined below) from (and including) the
         Issue Date to (and excluding) the Maturity Date only, in arrear on the
         relevant Interest Payment Date, on the basis of the actual number of
         days in such Interest Period and a year of 360 days at the above-
         mentioned Interest Rate with the resulting figure being rounded to the
         nearest amount of the above-mentioned Specified Currency which is
         available as legal tender in the country or countries (in the case of
         the euro) of the Specified Currency (with halves being rounded
         upwards); and

    (b)  the period beginning on the Issue Date and ending on the first Interest
         Payment Date and each successive period beginning on an Interest
         Payment Date and
<PAGE>

         ending on (and excluding) the next succeeding Interest Payment Date is
         an "Interest Period" for the purposes of this paragraph.

8.   If this is a floating rate interest bearing ECP Note, interest shall be
     calculated on the Nominal Amount as follows:

     (a)  in the case of an ECP Note which specifies LIBOR as the Reference Rate
          on its face, the Rate of Interest will be the aggregate of LIBOR and
          the above-mentioned Margin (if any) above or below LIBOR. Interest
          shall be payable on the Nominal Amount in respect of each successive
          Interest Period (as defined below) from (and including) the Issue Date
          to (and excluding) the Maturity Date only, in arrear on the relevant
          Interest Payment Date, on the basis of the actual number of days in
          such Interest Period and a year of 360 days.

          As used in this ECP Note:

          "LIBOR" shall be equal to the rate defined as "LIBOR-BBA" in respect
          of the above-mentioned Specified Currency (as defined in the 2000 ISDA
          Definitions published by the International Swaps and Derivatives
          Association, Inc., as amended, updated or replaced as at the date of
          this ECP Note, (the "ISDA Definitions")) as at 11.00 a.m. (London
          time) or as near thereto as practicable on the second London Banking
          Day before the first day of the relevant Interest Period (a "LIBOR
          Interest Determination Date"), as if the Reset Date (as defined in the
          ISDA Definitions) were the first day of such Interest Period and the
          Designated Maturity (as defined in the ISDA Definitions) were the
          number of months specified on the face of this ECP Note in relation to
          the Reference Rate; and

          "London Banking Day" shall mean a day on which commercial banks are
          open for general business (including dealings in foreign exchange and
          foreign currency deposits) in London;

     (b)  in the case of an ECP Note which specifies EURIBOR as the Reference
          Rate on its face, the Rate of Interest will be the aggregate of
          EURIBOR and the above-mentioned Margin (if any) above or below
          EURIBOR. Interest shall be payable on the Nominal Amount in respect of
          each successive Interest Period (as defined below) from (and
          including) the Issue Date to (and excluding) the Maturity Date only,
          in arrear on the relevant Interest Payment Date, on the basis of the
          actual number of days in such Interest Period and a year of 360 days.

          As used in this ECP Note, "EURIBOR" shall be equal to EUR-EURIBOR-
          Telerate (as defined in the ISDA Definitions) as at 11.00 a.m.
          (Brussels time) or as near thereto as practicable on the second TARGET
          Business Day before the first day of the relevant Interest Period (a
          "EURIBOR Interest Determination Date"), as if the Reset Date (as
          defined in the ISDA Definitions) were the first day of such Interest
          Period and the Designated Maturity (as defined in the ISDA
          Definitions) were the number of months specified on the face of this
          ECP Note in relation to the Reference Rate;
<PAGE>

     (c)  the Calculation Agent will, as soon as practicable after 11.00 a.m.
          (London time) on each LIBOR Interest Determination Date or 11.00 a.m.
          (Brussels time) on each EURIBOR Interest Determination Date (as the
          case may be), determine the Rate of Interest and calculate the amount
          of interest payable (the "Amount of Interest") for the relevant
          Interest Period. "Rate of Interest" means (A) if the Reference Rate is
          EURIBOR, the rate which is determined in accordance with the
          provisions of paragraph 8(b), and (B) in any other case, the rate
          which is determined in accordance with the provisions of paragraph
          8(a). The Amount of Interest shall be calculated by applying the Rate
          of Interest to the Nominal Amount of one Note of each denomination,
          multiplying such product by the actual number of days in the Interest
          Period concerned divided by 360 and rounding the resulting figure to
          the nearest amount of the above-mentioned Specified Currency which is
          available as legal tender in the country or countries (in the case of
          the euro) of the Specified Currency (with halves being rounded
          upwards). The determination of the Rate of Interest and the Amount of
          Interest by the Calculation Agent named above shall (in the absence of
          manifest error) be final and binding upon all parties;

     (d)  a certificate of the Calculation Agent as to the Rate of Interest
          payable hereon for any Interest Period shall be conclusive and binding
          as between the Issuer and the bearer hereof;

     (e)  the period beginning on (and including) the Issue Date and ending on
          (and excluding) the first Interest Payment Date and each successive
          period beginning on an Interest Payment Date and ending on the next
          succeeding Interest Payment Date is called an "Interest Period" for
          the purposes of this paragraph; and

     (f)  the Issuer will procure that a notice specifying the Rate of Interest
          payable in respect of each Interest Period be published as soon as
          practicable after the determination of the Rate of Interest. Such
          notice will be delivered to the bearer of this ECP Note, or if that is
          not practicable, will be published in a leading English language daily
          newspaper published in London (which is expected to be the Financial
          Times).

9.   Instructions for payment must be received at the offices of the Paying
     Agent referred to above together with this ECP Note as follows:

     (a)  if this ECP Note is denominated in Australian dollars, New Zealand
          dollars, Hong Kong dollars or Japanese Yen, at least two Business Days
          prior to the relevant payment date;

     (b)  if this ECP Note is denominated in United States dollars or Canadian
          dollars, on or prior to the relevant payment date; and

     (c)  in all other cases, at least one Business Day prior to the relevant
          payment date.

     As used in this paragraph, "Business Day" means:
<PAGE>

               (i)  a day other than a Saturday or Sunday on which commercial
                    banks are open for general business (including dealings in
                    foreign exchange and foreign currency deposits) in London;
                    and

               (ii) in the case of payments in euro, a TARGET Business Day and,
                    in all other cases, a day on which commercial banks are open
                    for general business (including dealings in foreign exchange
                    and foreign currency deposits) in the principal financial
                    centre in the country of the above-mentioned Specified
                    Currency.

10.  This ECP Note shall not be validly issued unless manually authenticated by
     Bank One, NA as issue agent.

11.  This ECP Note is governed by, and shall be construed in accordance with,
     the laws of the State of New York.

12.  (a)       Appropriate forum: The Issuer irrevocably agrees that any suit,
               action or proceeding arising out of or relating to this ECP Note
               ("Proceedings") may be instituted in the courts of the State of
               New York or the federal courts sitting in the Borough of
               Manhattan, City of New York, State of New York. The issuer
               irrevocably waives any objection which it may have now or
               hereafter to the laying of the venue of any Proceedings and any
               claim that such Proceedings have been brought in any inconvenient
               or inappropriate forum, and irrevocably submits generally and
               unconditionally to the jurisdiction of any such court in any
               Proceedings. The Issuer further irrevocably agrees that a
               judgment in any Proceedings brought in such courts may be
               enforced in the courts of any other jurisdiction.

     (b)       Service of process: Nothing herein contained shall limit the
               right of any party hereto to initiate Proceedings in any other
               court of competent jurisdiction; nor shall the initiation of
               Proceedings in any one or more jurisdictions preclude taking
               Proceedings in any other jurisdiction. If such person is not or
               ceases to be effectively appointed to accept service of process
               on the Issuer's behalf, the Issuer shall, on the written demand
               of the bearer addressed to the Issuer and delivered to the Issuer
               or to the offices of the Paying Agent, appoint a further person
               in the State of New York to accept service of process on its
               behalf and, failing such appointment within 15 days, the bearer
               shall be entitled to appoint such a person by written notice
               addressed to the Issuer and delivered to the Issuer or to the
               offices of the Paying Agent. Nothing in this paragraph shall
               affect the right of the bearer to serve process in any other
               manner permitted by law.

     (c)       Non-exclusivity: The Issuer hereby irrevocably appoints CT
               Corporation Systems, 1633 Broadway, New York, New York 10019, as
               its agent to accept service of process in any Proceedings in New
               York City in connection herewith.
<PAGE>

AUTHENTICATED by                                Signed on behalf of:
BANK ONE, NA                                    STEELCASE INC.
Without recourse, warranty or liability and
for authentication purposes only

By: __________________________________          By: ____________________________
(Authorised Signatory)                          (Authorised Signatory)

By: __________________________________          By: ____________________________
(Authorised Signatory)                          (Authorised Signatory)

<PAGE>

                                   SCHEDULE
                             Payments of Interest

The following payments of interest in respect of this ECP Definitive Note have
been made:

<TABLE>
<CAPTION>
Date                Payment          Payment             Amount                 Notation
Made                From             To                  Paid                   on behalf
                                                                                of Paying
                                                                                Agent
<S>                 <C>              <C>                 <C>                    <C>
______________      __________       _____________       ________________       ______________
______________      __________       _____________       ________________       ______________
______________      __________       _____________       ________________       ______________
______________      __________       _____________       ________________       ______________
______________      __________       _____________       ________________       ______________
</TABLE>
<PAGE>

                 Pro-forma Redemption or Interest Calculation
                      (Index linked ECP Definitive Note)

This is the Redemption or Interest Calculation relating to the attached index-
linked ECP Definitive Note:

Calculation Date:     _____________________________

Calculation Agent:    _____________________________

Redemption Amount:    to be calculated by the Calculation Agent as follows:

                      [Insert particulars of index and redemption calculation]

                      [Indicate whether the calculation refers to principal
                      or coupon]

Confirmed:

_____________________________
For STEELCASE INC.

Note:   The Calculation Agent is required to notify the Paying Agent for the
        Notes of the Redemption Amount immediately upon completing its
        calculation of the same.
<PAGE>

                                  SCHEDULE 3
                         Timetable for Issues of Notes

                Timetable for Issues of Notes for Two-day Value

Day              Latest Time             Action

Issue Date       2.00 p.m.               The Issuer may agree terms with one or
minus 2                                  more of the Dealers for the issue and
                                         purchase of Notes. Once agreement is
                                         reached, the Issuer telephones the
                                         Issuing Agent (to be confirmed by
                                         facsimile referred to below) to
                                         instruct it to prepare, complete,
                                         authenticate and issue a Global Note
                                         for each Tenor of underlying Notes
                                         which the Dealers have agreed to
                                         purchase, giving details of such Notes.

                 3.00 p.m.               The Issuer confirms its instructions to
                                         the Issuing Agent by facsimile
                                         (substantially in the form set out in
                                         Schedule 1), or by means of direct
                                         electronic communication in such manner
                                         as may be agreed between the Issuing
                                         Agent and the Issuer. The Issuer sends
                                         a copy of such confirmation to the
                                         relevant Dealer.

                                         The Issuing Agent telephones each of
                                         Euroclear and Clearstream, Luxembourg
                                         with a request for a security code for
                                         each Tenor of Notes (and if more than
                                         one Global Note is to be issued in
                                         respect of a series of Notes with the
                                         same Tenor, a separate security code
                                         for each). The Issuing Agent notifies
                                         such security code or codes to the
                                         Issuer and each Dealer which has agreed
                                         to purchase Notes.

                 5.00 p.m.               If a Dealer has reached agreement with
                                         the Issuer by telephone, such Dealer
                                         confirms to the Issuer (with a copy to
                                         the Issuing Agent) the terms of the
                                         agreement (including the currency and
                                         principal amount, issue date, maturity
                                         date and the yield/interest rate) by
                                         facsimile transmission or otherwise in
                                         writing. The details set out in this
                                         confirmation shall be conclusive
                                         evidence of the agreement (save in the
                                         case of manifest error) and shall be
                                         binding on the parties accordingly.
<PAGE>

Issue Date       3.00 p.m.               The Issuing Agent prepares and
minus 1                                  authenticates the Global Note for each
                                         Tenor of Notes which the Dealers have
                                         agreed to purchase on the Issue Date.

                                         All Global Notes are then delivered to
                                         a common depositary for Euroclear and
                                         Clearstream, Luxembourg and
                                         instructions are given to
                                         Euroclear/Clearstream, Luxembourg (as
                                         appropriate) to credit the underlying
                                         Notes represented by such Global Notes
                                         to the Issuing Agent's distribution
                                         account. In respect of each Dealer
                                         which has agreed to purchase underlying
                                         Notes represented by Global Notes, the
                                         Issuing Agent instructs
                                         Euroclear/Clearstream, Luxembourg to
                                         debit from its distribution account the
                                         number of underlying Notes of each
                                         Tenor which such Dealer has agreed to
                                         purchase and to credit such underlying
                                         Notes to the account of such Dealer.
                                         Each Dealer which has agreed to
                                         purchase underlying Notes represented
                                         by Global Notes gives corresponding
                                         instructions to Euroclear/Clearstream,
                                         Luxembourg.

Issue Date                               Euroclear/Clearstream, Luxembourg debit
                                         and credit accounts in accordance with
                                         instructions received by them.

                 5.00 p.m.               In respect of Notes denominated in a
                                         currency other than U.S. Dollars, the
                                         Issuing Agent pays the Issuer the
                                         aggregate amounts received by it from
                                         the Dealer(s) in same day funds via
                                         transfer of funds to such account of
                                         the Issuer as the Issuer may notify to
                                         the Issuing Agent from time to time.
<PAGE>

     Timetable for Issues of Sterling Definitive Notes for Same-Day Value

Day               Latest Time            Action

Issue Date        12.00 p.m.             The Issuer may agree terms with one or
                                         more of the Dealers for the issue and
                                         purchase of Notes. Once agreement is
                                         reached, the Issuer telephones the
                                         Issuing Agent (to be confirmed by the
                                         facsimile referred to below) to
                                         instruct it to prepare, complete,
                                         authenticate and issue Sterling
                                         Definitive Notes which the Dealers have
                                         agreed to purchase, giving details of
                                         such Notes.

                  12.30 p.m.             The Issuer confirms its instructions to
                                         the Issuing Agent by facsimile
                                         (substantially in the form set out in
                                         Schedule 1), or by means of direct
                                         electronic communication in such manner
                                         as may be agreed between the Issuing
                                         Agent and the Issuer. The Issuer sends
                                         a copy of such confirmation to the
                                         relevant Dealer.

                  12.30 p.m.             If a Dealer has reached agreement with
                                         the Issuer by telephone, such Dealer
                                         confirms to the Issuer (with a copy to
                                         the Issuing Agent) the terms of the
                                         agreement (including the yield, the
                                         aggregate principal amount of the Notes
                                         to be purchased by it, and their Tenor
                                         and Issue Date) by facsimile
                                         transmission or otherwise in writing.
                                         The details set out in this
                                         confirmation shall be conclusive
                                         evidence of the agreement (save in the
                                         case of manifest error) and shall be
                                         binding on the parties accordingly.

                  1.30 p.m.              The Issuing Agent prepares and
                                         authenticates the Notes for each Tenor
                                         of Notes which the Dealers have agreed
                                         to purchase on the Issue Date. The
                                         Issuing Agent holds all such Notes for
                                         collection by each Dealer which has
                                         agreed to purchase them against receipt
                                         of an undertaking of such Dealer (or,
                                         if the Issuing Agent requests, an
                                         undertaking of the bank through which
                                         payment is to be made) satisfactory to
                                         the Issuing Agent that payment of the
                                         aggregate issue prices due from such
                                         dealer will be made on the Issue Date.

                  2.30 p.m.              Payment instructions effected to
                                         transfer funds to the Issuer's account
                                         for same-day value.

Notes to the Timetables:
<PAGE>

(a)  Each day is a Business Day, counted in reverse order from the proposed
     Issue Date.

(b)  The Issue Date is a Business Day.

(c)  Times given are the approximate times for the taking of the action in
     question and (save as otherwise provided) are references to London time.

(d)  Times given may be varied from time to time, subject in each case to the
     express agreement of the Issuing Agent.
<PAGE>

                                SIGNATURE PAGES

The Issuer

STEELCASE INC.

By:         /s/  Gary P. Malburg
            --------------------

Address:    901 44/th/ Street
            Grand Rapids
            M1 49508
            United States of America

Telephone:  +1 616 247 2710
Facsimile:  + 1 616 247 3040

Attention:  Treasury

The Issuing Agent, Paying Agent and Principal Paying Agent

BANK ONE, NA

By:         /s/  Jack Davis
            --------------------

Address:    27 Leadenhall Street
            London
            EC3A 1AA

Telephone:  +44 20 7903 4919/21
Facsimile:  +44 20 7867 9186

Attention:  Corporate Trust<PAGE>

                                                                     Exhibit 4.5

                      ISSUING AND PAYING AGENT AGREEMENT
                      ----------------------------------

This Issuing and Paying Agency Agreement (the "Agreement"), dated as of June 20,
2001, between Steelcase Inc., a Michigan corporation (the "Issuer") and Bank
One, National Association, a national banking association (the "IPA"), as
issuing and paying agent, in connection with the issuance and payment, in book
entry only form, of certain commercial paper notes (collectively the "Notes").
The Issuer hereby appoints the IPA its agent to issue, deliver and pay such
Notes as herein set forth and for such other purposes that the Issuer may
request and as are reasonably acceptable to the IPA. The Issuer hereby agrees
with the IPA as follows:

1.   Definitions.
     -----------

     Terms capitalized shall have the meanings assigned them below.

     "Advance" means funds credited by the IPA to or on behalf of the Issuer for
     the purpose of either crediting Proceeds to the Note Account or remitting
     payment on Notes.

     "Agreement" means this Issuing and Paying Agency Agreement as defined in
     the preamble, and includes the terms of the Exhibits.

     "Business Day" means any day that both the IPA and DTC are open for
     business.

     "Certificate Agreement" means the Certificate Agreement dated May 17, 1994,
     between DTC and the IPA (formerly known as The First National Bank of
     Chicago), a copy of which is attached hereto as Exhibit C.

     "Dealer" means any person other than an Issuer Agent, which has been
     authorized by the Issuer to deliver Issuance Instructions to the IPA and is
     listed on an Incumbency Certificate.

     "DTC" means The Depository Trust Company, a New York limited purpose trust
     company, and its successors and assigns.

     "GAITIR" means the Global Automated Issuance Trade Initiator and Reporter
     system.

     "Incumbency Certificate" means the certificate of the Issuer, substantially
     in the form of Exhibit A, executed by its Secretary or any of its Assistant
     Secretaries, which identifies Issuer Agents and Dealers from time to time.
<PAGE>

     "Indemnified Persons" means the IPA and its officers, directors, employees,
     and agents.

     "Issuance Instructions" means the instructions as to issuance of Notes
     delivered to the IPA by an Issuer Agent or Dealer pursuant to Section 3.B.
     of the Agreement.

     "Issuer Agents" means those officers, employees, or agents of the Issuer
     identified on an Incumbency Certificate the Issuer has authorized to
     execute Notes, deliver Note Issuance Instructions, and deliver other
     notices hereunder to the IPA.

     "Manual" means the DTC Money Market Instrument Issuing/Paying Agent Manual,
     as modified from time to time, including the rules of the DTC Same Day
     Funds Settlement System, Money Market Instruments Program.

     "Maturity Date" means the date any Note is payable by its terms.

     "Note" or "Notes" means the commercial paper notes of the Issuer issued
     pursuant to the Agreement and identified on the records of the IPA as
     evidenced by the Issuer's Corporate Commercial Paper Master Note
     substantially in the form set forth in Exhibit B.

     "Note Account" means the Issuer's demand deposit account number 1088202
     established at the IPA pursuant to Section 6.A.

     "Proceeds" means, with respect to any Note, funds representing the purchase
     price for its original issuance.

     "Representation Letter" means the agreement by and among the IPA, the
     Issuer and DTC with respect to the Notes substantially in the form set
     forth in Exhibit D.

2.   Authorization.
     -------------

     The Issuer shall deliver to the IPA upon execution of this Agreement an
     Incumbency Certificate to designate the Issuer Agents and Dealers to the
     IPA.  Until the IPA receives a subsequent Incumbency Certificate from the
     Issuer, it may rely on the last such Incumbency Certificate delivered to
     it.  Any Note bearing the signature of an Issuer Agent on the date such
     signature is affixed thereto shall bind the Issuer after the authentication
     and delivery of such Note even if such person shall have ceased to hold his
     or her office on the date such Note is authenticated and delivered.
<PAGE>

3.   Notes.
     -----

     A.   The Notes shall be issued to DTC or its nominee in book-entry form
          only.  In connection with the issuance of Notes, (i) the IPA and DTC
          have previously entered into the Certificate Agreement and (ii) the
          IPA, the Issuer and DTC shall jointly execute the Representation
          Letter.  The Issuer understands and acknowledges that the execution of
          the Certificate Agreement and the Representation Letter by the IPA is
          a necessary condition precedent to the acceptance of the Notes by DTC
          and as such the terms of the Certificate Agreement and the
          Representation Letter (a copy of each of which is attached hereto and
          incorporated by reference herein) may  supplement the provisions of
          this Agreement.

     B.   Prior to 12:00 noon (Chicago time) on each issuance date, an Issuer
          Agent or Dealer shall provide the IPA with Issuance Instructions
          specifying the issue date, interest rate (if applicable), maturity
          date (which shall be no later than 365 days from the date of issuance
          thereof), proceeds amount, maturity amount, CUSIP number, purchaser
          and purchaser's settlement bank (which bank must be a participant in
          the DTC Same Day Funds Settlement System).

     C.   Following receipt of Issuance Instructions, the IPA will process such
          Issuance Instructions in accordance with and subject to (i) this
          Agreement, (ii) the procedures set forth in the Manual, (iii) the
          terms and conditions of the Certificate Agreement and (iv) the terms
          and conditions of the Representation Letter.  Unless otherwise
          instructed by an Issuer Agent or Dealer, Notes delivered under this
          Agreement shall be made against payment as more fully set forth in
          Section 4 below.  In the event of a conflict between the terms of this
          Agreement and the terms of the Manual, the Certificate Agreement, or
          the Representation Letter, the provisions of this Agreement shall
          control.

4.   Proceeds of Sale of Notes.
     -------------------------

     A.   The Issuer understands that when the IPA is instructed to deliver
          against payment, the processing of Issuance Instructions may not be
          completed simultaneously against the receipt of payment.  Accordingly,
          the IPA is authorized to initiate delivery and to receive payment from
          the purchaser in accordance with the provisions of the Manual.  All
          such payments shall be credited upon receipt to the Note Account.  The
          Issuer hereby agrees to bear the risk that the IPA may fail to receive
          payment of the Proceeds of any Notes issued pursuant
<PAGE>

          to Issuance Instructions.

     B.   Funds received by the IPA as Proceeds will be credited to the Note
          Account.  Prior to receipt of such Proceeds, the IPA may, but shall
          not be obligated to, credit such Proceeds to the Issuer by making an
          Advance.  Upon telephonic, written (which may be in facsimile form),
          or electronic instructions received by the IPA from an Issuer Agent,
          an Advance may be (i) used in payment of Notes presented for payment
          upon maturity, (ii) deposited to an account of the Issuer at the IPA
          or (iii) transferred to the account of the Issuer at another bank.  If
          the IPA, in its sole discretion, makes an Advance, the Issuer agrees
          to apply the Proceeds to repay such Advance.  If such Proceeds are
          insufficient to repay the Advance in full, the Issuer agrees to repay
          such Advance within 24 hours from the time such Advance was made.  The
          Issuer shall repay to the IPA such Advance and the cost of funding
          such Advance (such funding cost will be determined by the IPA and the
          IPA shall provide evidence thereof to the Issuer).

5.    Instructions
      ------------

     A.   The Issuer hereby authorizes the IPA to act in accordance with
          Issuance Instructions received electronically, in writing, by
          facsimile or by telephone from an Issuer Agent or the Dealer. The
          Issuer or the Dealer may initiate Issuance Instructions electronically
          via GAITIR or otherwise in accordance with the IPA's standard business
          practices. The IPA shall be entitled to rely on the Issuance
          Instructions received electronically hereunder and may assume
          conclusively that all such Issuance Instructions are correct and
          complete and were transmitted by the Issuer or on the Issuer's behalf.

     B.   Telephonic Issuance Instructions shall be given to the IPA by an
          Issuer Agent or the Dealer at the telephone number specified by the
          IPA from time to time for such purpose, and shall be expressed to be
          for the attention of any of its officers or employees whose name has
          been specified for such purpose.  The telephone numbers initially
          authorized for such purpose are set forth in Exhibit E, which may be
          modified by notice to the Issuer and each Dealer.  Telephonic Issuance
          Instructions to the IPA by an Issuer Agent or Dealer shall be
          confirmed in writing by an Issuer Agent or Dealer within 24 hours of
          the time such instruction is given; provided that, in the event a
          discrepancy exists between the telephonic Issuance Instructions and
          the subsequent confirmation, or in the absence of receiving a written
          confirmation prior to the time specified in Sections 3.B. above, the
<PAGE>

          Telephonic Issuance Instructions shall be deemed the proper and
          controlling Issuance Instructions.  A written confirmation may be
          effected by any electronic means of communications, including
          transmission by telecopier or computer.

6.   Note Account.
     ------------

     A.   For purposes of the transactions contemplated herein, the Issuer shall
          open and maintain the Note Account.

     B.   Deposits will be made to the Note Account from time to time by or on
          behalf of the Issuer by delivery of funds to be deposited therein.
          All Proceeds shall be credited to the Note Account.  Withdrawals or
          other uses of the funds from the Note Account shall be made in
          accordance with instructions from an Issuer Agent or to repay amounts
          payable under Sections 4.B. or 7.D. hereof.  Notwithstanding anything
          in this Agreement to the contrary, the IPA shall not be obligated (i)
          to permit any withdrawal or other use of funds from the Note Account,
          or (ii) to honor any instructions to those effects, if the IPA, in its
          sole discretion, shall determine that as a result there would be an
          overdraft or negative balance in respect of final credits (whether in
          the course of any day, overnight or otherwise) in the Note Account.
          The Issuer shall deposit in the Note Account on the Maturity Date an
          amount in immediately available funds equal to the principal and
          interest payable on such Notes, unless such funds represent Proceeds
          and are deposited to the Note Account pursuant to Section 4.B.

7.   Payment of Notes.
     ----------------

     A.   The IPA hereby agrees to serve as paying agent of the Issuer with
          respect to each of the Notes presented for payment pursuant to this
          Agreement.

     B.   The IPA is hereby authorized and instructed by the Issuer, to the
          extent that funds sufficient to effect such payment are available in
          the Note Account, to pay, and shall pay, each of the Notes upon
          presentation thereof.  The IPA is further hereby authorized and
          instructed by the Issuer to debit the Note Account in the amount of
          each such payment.

     C.   If at any time funds in the Note Account are insufficient to cover
          payment of any matured Notes presented prior to 2:00 p.m. (Chicago
          time) on the Maturity Date of such Notes, the IPA may, but shall not
<PAGE>

          be obligated to, pay the Notes thus creating an overdraft for the
          account of the Issuer, which overdraft shall be charged to the Note
          Account.

     D.   The amount of any resulting overdraft shall represent an Advance by
          the IPA to the Issuer to be promptly repaid by the Issuer together
          with any applicable overdraft charges and interest on such advance for
          each day such Advance remains outstanding in accordance with Section
          4.B.

8.   Representations and Warranties.
     ------------------------------

     Each day on which an Issuance Instruction is given to the IPA, the Issuer
     shall be deemed to represent and warrant to the IPA that (a) the issuance
     and delivery of the designated Notes will not violate any state or federal
     securities law, (b) the Notes have been duly and validly authorized by the
     Issuer and (c) the Notes, when issued and delivered pursuant hereto, will
     constitute the legal, valid, and binding obligations of the Issuer.

9.   Concerning the IPA.
     ------------------

     A.   In acting with respect to the Notes, and generally in acting under the
          provisions hereof, the IPA acts only as agent of the Issuer to perform
          only such duties as are specifically set forth herein and this
          Agreement shall not be construed to subject the IPA to any implied
          covenants or obligations.  No provision of this Agreement shall be
          construed to impose upon the IPA any trust, agency of, or fiduciary
          duty to DTC or any beneficial owner of the Notes.  The IPA may execute
          any of the powers hereunder or perform any duties hereunder either
          directly or by or through agents or affiliates.  The IPA or its
          affiliates in their individual or any other capacity may become the
          owner or pledgee of Notes and may transact business with the Issuer or
          its affiliates with the same rights they would have if the IPA were
          not acting hereunder.  The IPA shall be under no liability for
          interest on any moneys received by it hereunder and need not segregate
          such moneys except as may be required by law.  Except in the case of
          the IPA's gross negligence or willful misconduct, it shall not be
          liable to the Issuer for any action taken or omitted and reasonably
          believed by the IPA to be authorized or within the powers conferred
          upon it hereby.   In no event shall the IPA be liable for
          consequential, indirect or special damages, even if it has been
          advised of the possibility of such damages. The IPA shall also not be
          liable for any action taken, or any failure to take any action in
          connection with this Agreement or
<PAGE>

          the services provided hereunder or otherwise to fulfill its
          obligations in connection with this Agreement, in the event and to the
          extent that the taking of such action or such failure arises out of or
          is caused by mechanical breakdown, computer or system failure or other
          failure of equipment, failure or malfunctioning of any communications
          media for whatever reason, or any other cause outside of the control
          of the IPA, provided that it undertakes to use commercially reasonable
          efforts to cure any such failure or breakdown of its equipment. It is
          understood by the Issuer that provision of services under this
          Agreement is dependent upon the availability to the IPA and the Issuer
          of telecommunication facilities provided by third party vendors and
          that the IPA does not warrant or guarantee such availability.

      B.  The Issuer shall indemnify and hold the Indemnified Persons harmless
          from and against any and all costs, expenses, claims or liabilities
          (including, without limitation, reasonable legal fees and expenses)
          arising out of or connected with the performance of each Indemnified
          Person's duties hereunder, except for costs, expenses, claims or
          liabilities arising out of the gross negligence or willful misconduct
          of an Indemnified Person. Each Indemnified Person may rely and shall
          be protected in acting upon any resolution, certificate, opinion,
          instructions (whether oral or otherwise), receipt, or other document
          reasonably believed by such Indemnified Person to be (i) genuine and
          (ii) to have been signed or given by the proper party or parties.

     C.   Fees for the IPA's services, and reimbursement of its expenses
          hereunder shall be as mutually agreed upon in writing between the IPA
          and the Issuer, which are initially set forth as Exhibit F, and shall
          be payable by the Issuer in accordance with such agreement.

     D.   Except as otherwise expressly provided herein, whenever, in the
          administration of this Agreement, the IPA shall deem it necessary that
          a matter be proved or established prior to taking, suffering or
          omitting any action hereunder, such matter (unless other evidence in
          respect thereof be herein specifically prescribed) may be deemed to be
          conclusively proved and established by a certificate or written
          instructions of an Issuer Agent and such certificate or written
          instructions shall be full warranty to the IPA for any action taken,
          suffered, or omitted under the provisions of this Agreement in
          reliance upon such certificate or written instructions.

     E.   Any banking association or corporation into which the IPA may be
          merged, converted or with which it may be consolidated, or any
<PAGE>

          corporation resulting from any merger, conversion or consolidation to
          which it shall be a party, shall succeed to all its rights,
          obligations and immunities hereunder without the execution or filing
          of any paper or any further act on the part of any of the parties
          hereto, anything herein to the contrary notwithstanding.

     F.   The IPA's countersignature of a Note shall be for authentication
          purposes only. The IPA shall have no liability on any Notes. Except
          with respect to the IPA's own actions in issuing and delivering Notes
          pursuant to Issuance Instructions, it shall not be liable for the
          authorization, validity or legality of any Notes delivered by it in
          accordance with Issuance Instructions.

     G.   Nothing in this Agreement constitutes a commitment or obligation of
          the IPA or its affiliates to extend any credit to the Issuer, nor
          shall any course of dealing between the Issuer and the IPA be deemed
          to be, or constitute, any such commitment or obligation.

10.  Miscellaneous.
     -------------

     A.   The IPA or the Issuer may terminate this Agreement upon one (1) days'
          prior written notice to the other party; provided, however, that to
          the extent there are then outstanding any Notes, notwithstanding such
          termination they shall remain valid obligations of the Issuer and
          shall continue to be subject to the provisions of this Agreement .  No
          termination of this Agreement shall affect the rights and obligations
          of the parties hereto with respect to transactions initiated prior to
          such termination.  In the event that the IPA shall give the Issuer
          notice of termination, the Issuer shall not issue on or after the date
          of such notice any Notes (pursuant to the terms of this Agreement)
          having a maturity in excess of thirty (30) days.

     B.   No amendment or modification of this Agreement shall be effective
          unless the same shall be in writing and signed by both of the parties
          hereto.  No waiver of, nor any consent to any departure from, any
          provision of this Agreement shall be effective unless signed by the
          party intended to be bound.  No such amendment, modification, waiver
          or consent shall adversely affect the rights of any holder of Notes
          outstanding at the time of such amendment, modification, waiver or
          consent.

     C.   Any obligation under this Agreement or the Notes that falls on a day
          that is not a Business Day shall be performed on the next succeeding
<PAGE>

          Business Day.

     D.   Neither party hereto may assign any of its rights or obligations
          hereunder without the consent of the other party hereto.

     E.   This Agreement may be executed in any number of counterparts and by
          each party hereto on separate counterparts, each of which
          counterparts, when so executed and delivered, shall be deemed to be an
          original and all of which counterparts taken together shall constitute
          one and the same Agreement.

11.  Notices.
     -------

     Any notices, demands, instructions and other communications required or
     permitted to be given or made upon either party shall be in writing and
     shall be personally delivered or sent by first class mail, postage prepaid
     (or telecopier, as permitted hereunder), and shall be effective for
     purposes of this Agreement upon receipt by the intended recipient thereof
     at the address designated by such recipient, or on the next succeeding
     Business Day if received on other than a Business Day.  Unless otherwise
     specified in a notice sent or delivered in accordance with the foregoing
     provisions of this paragraph (or with respect to Issuance Instructions, as
     permitted hereunder), notices, demands, instructions and other
     communications in writing shall be addressed as indicated below:

     If to the IPA:           Bank One, National Association
                              1 Bank One Plaza
                              Suite IL1-0823
                              Chicago, Illinois 60670-0823
                              Attn:  Commercial Paper Customer
                              Service
                              Telephone:   (312) 407-4722
                              Telecopier:  (312) 336-8840

     If to the Issuer:        Steelcase, Inc.
                              901 44/th/ Street, S.E.
                              Grand Rapids, MI  49508
                              Attn: Treasury
                              Telephone:   (616) 247 2710
                              Telecopier:  (616) 247-3040
<PAGE>

12.  GAITIR License
     --------------

     A.   The IPA grants, if applicable, to the Issuer a personal, non-
          transferable and non-exclusive license to use the instruction and
          reporting communication software, GAITIR, to transmit Issuance
          Instructions made pursuant to Section 3 hereof and to obtain reports
          with respect to the Notes. The Issuer acknowledges that (a) GAITIR IS
          PROVIDED TO THE ISSUER "AS IS" WITHOUT WARRANTIES OR REPRESENTATIONS,
          EXPRESS OR IMPLIED OF ANY KIND WHATSOEVER BY THE IPA OR ANY THIRD
          PARTY VENDOR, INCLUDING BUT NOT LIMITED, TO THE IMPLIED WARRANTY OF
          MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE; (b) GAITIR is
          proprietary and confidential property disclosed to the Issuer in
          confidence and only on the terms and conditions and for purposes set
          forth in this Agreement, and (c) GAITIR is a registered trademark of
          Bank One Corporation.

     B.   By this Agreement, the Issuer acquires no title, ownership or
          sublicensing rights whatsoever in GAITIR or in any trade secret,
          trademark, copyright or patent of the IPA now or to become applicable
          to GAITIR.  The Issuer may not transfer, sublicense, assign, rent,
          lease, convey, modify, translate, convert to a programming language,
          decompile, disassemble, recirculate, republish or redistribute GAITIR
          for any purpose without the prior written consent of the IPA,
          provided; however, that the Issuer may make two (2) additional copies
          of the software for back-up purposes only without prior written
          consent of the IPA.  The Issuer shall commercially reasonable efforts
          to secure and protect GAITIR against any disclosure or transfer of any
          part thereof to any third party.

     C.   In the event (a) any action is taken or threatened which may result in
          a disclosure or transfer of GAITIR or any part thereof, other than as
          authorized by this Agreement, or (b) the use of any trademark, trade
          name, service mark, service name, copyright or patent of the IPA by
          the Issuer amounts to unfair competition, or otherwise constitutes a
          possible violation of any kind, then the IPA shall have the right to
          take any and all action deemed necessary to protect their rights in
          GAITIR, and to avoid the substantial and irreparable damage which
          would result from such disclosure, transfer or use, including the
          immediate termination of the Issuer's right to use GAITIR.

     D.   To permit the use of GAITIR to issue Instructions and/or obtain
          reports with respect to the Notes, the IPA will supply the Issuer with
          an
<PAGE>

          identification number and initial passwords. From time to time
          thereafter, the Issuer may change its passwords directly through
          GAITIR. The Issuer will keep all information relating to its
          identification number and passwords strictly confidential and will be
          responsible for the maintenance of adequate security over its customer
          identification number and passwords.

13.  GOVERNING LAW.
     -------------

     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
     INTERNAL LAW OF THE STATE OF NEW YORK (EXCLUDING ITS CONFLICTS OF LAWS
     RULES).

14.  Entire Agreement.
     ----------------

     This Agreement together with the Exhibits, constitute the entire agreement
     between the IPA and the Issuer relating to the subject matter hereof, and
     supersedes all proposals and all other communications between the parties
     relating hereto.

                                           Steelcase Inc.

                                           By:    /s/ Gary P. Malburg
                                                  ------------------------------
                                           Name:  Gary P. Malburg
                                                  ------------------------------
                                           Title: Vice President & Treasurer
                                                  ------------------------------

                                           BANK ONE, National Association,
                                                as Issuing and Paying Agent

                                           By:    /s/ Tamra Amos
                                                  -----------------------------
                                           Name:  Tamra Amos
                                           Title: Account Executive
<PAGE>

                               LIST OF EXHIBITS
                               ----------------

Exhibit A                     Issuer of Incumbency Certificates
Exhibit B                     Form of Master Note
Exhibit C                     Commercial Paper Certificate  Agreement
Exhibit D                     Issuer/IPA/DTC Representation Letter
Exhibit E                     Telephone Numbers for Telephonic Issuance
                              Instructions to the IPA
Exhibit F                     IPA Fee Schedule

<PAGE>

                                   EXHIBIT A
                                   ---------

                         ISSUER INCUMBENCY CERTIFICATE
<PAGE>

                                   EXHIBIT A
                                   ---------

                         ISSUER INCUMBENCY CERTIFICATE

I do hereby certify that I am the duly elected and qualified Assistant Secretary
of Steelcase Inc., a corporation organized and existing under the laws of the
State of Michigan (the "Issuer") and that I am in possession of its corporate
records.

I do further certify that as of the date of this Certificate each of the
following persons is:  (a) a duly authorized officer or agent of the Issuer; (b)
an Issuer Agent for purposes of the Issuing and Paying Agency Agreement (the
Agreement), dated as of June 20, 2001, between the Issuer and Bank One, National
Association; and (c) authorized to execute Notes on behalf of the Issuer and to
act and to give instructions and notices on behalf of the Issuer pursuant to
said Issuing and Paying Agency Agreement, and that the signature set forth
opposite the name of such person is his or her genuine signature:

NAME AND TITLE OF ISSUER AGENT                                       SIGNATURE
------------------------------                                       ---------

Brian Higgins
Director - Shared Services, International Finance        /s/ Brian Higgins
                                                         -----------------------

James P. Keane
Senior Vice President and Chief Financial Officer        /s/ James P. Keane
                                                         -----------------------

Nancy Kocsis
Manager, Treasury Services                               /s/ Nancy Kocsis
                                                         -----------------------

Gary Malburg
Vice President, Finance and Treasurer                    /s/ Gary Malburg
                                                         -----------------------

Brian O'Donnell
Director, Treasury Services                              /s/ Brian O'Donnell
                                                         -----------------------

Corinne Stainnack
Treasurer - Europe                                      /s/ Corinne Stainnack
                                                        ------------------------

Dave Sylvester
Vice President, International Finance                   /s/ Dave Sylvester
                                                        ------------------------

I further certify that each of the entities listed below is a Dealer under the
Agreement:

Goldman, Sachs & Co.
Goldman Sachs International                                     [SEAL]
BNP PARIBAS
Citibank International plc

IN WITNESS WHEREOF, I have hereunto set my hand this 20/th/ day of June, 2001.

                                             STEELCASE INC.

                                             /s/ Sheila C. Dayton
                                             -----------------------------------
                                             Sheila Dayton
                                             Vice President, General Counsel and
                                             Assistant Secretary
<PAGE>

                                   EXHIBIT B
                                   ---------

                              FORM OF MASTER NOTE
<PAGE>

                   CORPORATE COMMERCIAL PAPER - MASTER NOTE

                                                               June 20, 2001

STEELCASE, INC. ("Issuer"), for value received, hereby promises to pay to Cede &
Co., as nominee of The Depository Trust Company, or to registered assigns:  (i)
the principal amount, together with unpaid accrued interest thereon, if any, on
the maturity date of each obligation identified on the records of Issuer (the
"Underlying Records") as being evidenced by this Master Note, which Underlying
Records are maintained by BANK ONE, NATIONAL ASSOCIATION ("Paying Agent");  (ii)
interest on the principal amount of each such obligation that is payable in
installments, if any, on the due date of each installment, as specified on the
Underlying Records; and (iii) the principal amount of each such obligation that
is payable in installments, if any, on the due date of each installment, as
specified on the Underlying Records.  Interest shall be calculated at the rate
and according to the calculation convention specified on the Underlying Records.
Payments shall be made by wire transfer to the registered owner from Paying
Agent without the necessity of presentation and surrender of this Master Note.

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS MASTER NOTE SET
     FORTH ON THE REVERSE HEREOF.

     This Master Note is a valid and binding obligation of Issuer.

     Not Valid Unless  Countersigned for Authentication by Paying Agent.

BANK ONE, NATIONAL ASSOCIATION                 STEELCASE, INC.
------------------------------                 ---------------------------------
Paying Agent                                   Issuer

By: /s/ Tamra Amos                             By: /s/Gary P. Malburg
    --------------------------                    ------------------------------
    Authorized Counter-Signator                       Authorized Signature

                                               _________________________________
                                               Guarantor

                                               _________________________________
                                               Authorized Signature
<PAGE>

     At the request of the registered owner, Issuer shall promptly issue and
deliver one or more separate note certificates evidencing each Sum Deposited
evidenced by this Master Note. As of the date any such note certificate or
certificates are issued, the Sums Deposited which are evidenced thereby shall no
longer be evidenced by this Master Note.

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto
________________________________________________________________________________
        (Name, Address, and Taxpayer Identification Number of Assignee)
the Master Note and all rights thereunder, hereby irrevocably constituting and
appointing __________________attorney to transfer said Master Note on the books
of Issuer with full power of substitution in the premises.

Dated:                                                __________________________
Signature(s) Guaranteed:                                     (Signature)

                                   NOTICE: The signature on this assignment
                                   must correspond with the name as written
                                   upon the face of this Master Note.  In every
                                   particular, without alteration or enlargement
                                   or any change whatsoever.

     Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to Issuer or its agent
for registration of transfer, exchange, or payment, and any certificate issued
is registered in the name of Cede & Co. or in such other name as is requested by
an authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.
<PAGE>

                                   EXHIBIT C
                                   ---------

                    COMMERCIAL PAPER CERTIFICATE AGREEMENT
<PAGE>

                    BOOK-ENTRY-ONLY MONEY MARKET INSTRUMENT
                             (MASTER NOTE) PROGRAM

                             Certificate Agreement

     This Agreement is dated as of May 17, 1994, by and between The Depository
Trust Company ("DTC") and The First National Bank of Chicago.

     Whereas, Custodian performs, as agents of the issuers, certain paying
agency functions with respect to one or more issues of money market instrument
notes issued under the programs listed on Exhibit A, as it may be amended in
writing with the addition or deletion of a program from time to time by the
parties (the "Securities"); and

     Whereas, in order to enhance the efficiency of the processes for issuing
and redeeming such Securities, Custodian has agreed to act as custodian of
master note certificates registered in the name of DTC's nominee, Cede & Co.,
evidencing the Securities (the "Certificates") and has established procedures to
perform the services hereinafter set forth.

     Now, therefore, in consideration of the representations, warranties, and
covenants herein contained the parties agree as follows:

1.   Custodian shall assure that each Certificate held pursuant to this
     Agreement shall be in registered form, registered in the name of Cede &
     Co., and shall bear the following legend:

          Unless this certificate is presented by an authorized representative
          of The Depository Trust Company, a New York corporation ("DTC"), to
          Issuer of its agent for registration of transfer, exchange, or
          payment, and any certificate be issued is registered in the name of
          Cede & Co. or in such other name as is requested by an authorized
          representative of DTC (and any payment is made to Cede & Co. or to
          such other entity as is requested by an authorized representative of
          DTC). ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
          BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
          hereof, Cede & Co. has an interest herein.

     Custodian agrees that the foregoing provisions of this Paragraph
     constitutes as to Custodian a timely written notice of an adverse claim by
     DTC as to each such Certificate regardless of whether the legend actually
     appears thereon.
<PAGE>

2.   Subsequent to the issuance of Certificates, Custodian shall hold the
     Certificates awaiting DTC's instructions. On receipt of instructions from
     DTC, and except as hereinafter provided, Custodian shall deliver to DTC or
     as directed by DTC any or all Securities or Certificates held for DTC in
     accordance with such instructions.

3.   Custodian shall confirm to DTC the amount of Securities evidenced by each
     Certificate on a daily or other periodic basis, as DTC may reasonably
     request.

4.   As between DTC and Custodian (including, without limitation, its creditors,
     lien holders, and pledgees), the Securities evidenced by a Certificate and
     such Certificate shall be deemed to be the sole property of DTC. Custodian
     shall not by reason of any provision of this Agreement or the delivery to
     it pf Securities in connection with their issuance obtain any legal or
     equitable right, title or interest in or to Securities evidenced by such
     certificate.

5.   Custodian shall itself at all times hold all Certificates in one of its
     secured areas.

6.   (a) Notwithstanding any event whatsoever, other than an event described in
     subparagraph (b) of this Paragraph or in the proviso to Paragraph 8,
     Custodian shall, upon the request of DTC deliver or make available to DTC
     any or all Securities or Certificates within 24 hours after receipt of such
     request, except that custodian shall not be requested hereby to deliver or
     make available Securities or Certificates to DTC on a day that Custodian is
     not open for business.

     (b) Custodian shall notify DTC immediately after it determines that any
     Securities or Certificates received by it from the issuer, deliverable by
     it to DTC, or held by it pursuant to the provisions of this Agreement has
     apparently been lost, destroyed, wrongfully taken, or is unaccounted for by
     Custodian (each, a "Missing Security").  Custodian shall promptly replace
     any Missing Security without cost to DTC.

7.   Custodian represents and warrants that it is insured under an insurance
     policy in the form of Financial Institution Bond Standard Form 24, or
     similar coverage, In the amount of $100,000,000.00, with a deductible of
     $5,000,000.00, which Custodian reasonably believes to be adequate to cover
     all losses under all programs that Custodian has and shall have with DTC.
     Custodian will deliver promptly to DTC, if DTC so requests, a writing
     signed by its insurance broker or agent which evidences the existence of
     such insurance coverage in such amount and with such deductible, and
     Custodian
<PAGE>

     covenants and agrees to maintain as its expense such insurance (or a
     comparable plan of insurance) in no less amount, no greater deductible, and
     with like coverage during the term of this Agreement, subject to its right
     to cancel, decrease, or limit the same. Custodian shall notify DTC promptly
     in writing of any material changes in such insurance coverage. Custodian
     shall, prior to the first anniversary of the date of this Agreement and
     prior to each succeeding anniversary of this Agreement during its term,
     deliver promptly to DTC, if DTC so requests, a writing signed by its
     insurance broker or agent which shall evidence the amount, deductible, and
     coverage of Custodian's insurance and shall state whether or not such
     insurance is equivalent to Financial Institution Bond Standard Form 24.
     Custodian agrees that whenever Custodian ships Securities or Certificates
     to DTC, Custodian shall either provide adequate insurance coverage or
     require such coverage from the carrier of the Securities or Certificates,
     such coverage to cover losses of Securities or Certificates while in
     transit and until received. Custodian shall, if DTC so requests, promptly
     furnish DTC with documentation evidencing the amount, deductible, and
     coverage of the insurance provided by Custodian for any such shipment of
     Securities or Certificates.

8.   Custodian agrees that it shall not for any reason, including the assertion
     of any claim, right, or lien of any kind, refuse or refrain from delivering
     any Securities or Certificates to or as directed by DTC, in accordance with
     the terms of this Agreement: provided, however, that if Custodian shall be
     served with a notice of levy, seizure, or similar notice, order, or
     judgment, issued or directed by a governmental agency or court, or an
     officer thereof, having jurisdiction over Custodian, which on its face
     affects Securities evidenced by Certificates in the possession of Custodian
     pursuant to the provisions hereof, Custodian may, pending further direction
     of such governmental agency or court, refuse or refrain from delivery or
     making available to DTC in contravention of such notice or levy, seizure,
     or similar notice, order, or judgment. Securities not greater in amount
     than the Securities which are affected by such notice of levy, seizure, or
     similar notice, order, or judgment on the face thereof.

9.   Custodian may act relative to this Agreement to reliance upon advice of
     counsel in reference to any matters connected with its duties under this
     Agreement, and shall not be liable for any mistake of fact or error of
     judgment, or for any acts or omissions to act of any kind, unless caused by
     its own negligence.

10.  Custodian may at any time, without any resulting liability to itself, act
     under this Agreement in reliance upon the signature of any person who it
     reasonably believes has authority to act for DTC with respect to this
<PAGE>

     Agreement, but Custodian shall not be required so to act, and may in its
     discretion at any time require such evidence of the authenticity of such
     signature and of the authority of the person acting for DTC as may be
     satisfactory to Custodian.

11.  So long as this Agreement remains in effect as to any issue of Securities,
     Custodian shall furnish to DTC as soon as available, a copy of any report
     on the adequacy of Custodian's internal accounting control procedures
     relating to the safeguarding of securities in its custody prepared for any
     regulatory agency by Custodian's independent outside auditor.

12.  This Agreement may be terminated by either party upon ten business days'
     prior written notice to the other party. In the event of the termination of
     this Agreement or the termination hereunder of this Agreement as to issues
     of Securities evidenced by specific Certificates, it shall be deemed that
     Custodian has received as of the time of such termination a request by DTC
     within the meaning of Paragraph 6(a) with regard to (i) all Securities or
     Certificates subject hereto if this Agreement is terminated; or (ii) the
     specific Securities or Certificates in respect of which this Agreement
     shall terminate.

13.  This Agreement shall be governed by and construed in accordance with the
     laws of the State of New York, without giving effect to principles of
     conflicts of law.

14.  All notices, instructions, requests, and other communications required or
     contemplated by this Agreement shall be in writing, shall be delivered by
     hand or sent, postage prepaid, by certified or registered mail, return
     receipt requested, and shall be addressed to Custodian at One First
     National Plaza, Attn: Ronald Thalheimer, Vice President, and to DTC at
     49/th/ Floor, 35 Water Street, New York, NY 10041-0099, Attn: General
     Counsel. Notice given as aforesaid shall be deemed given upon the receipt
     thereof. Either party may change the address to which notices shall be sent
     upon notice to the other in the manner hereinabove provided.

15.  (a) Custodian agrees to indemnify and hold harmless DTC from and against
     any and all losses, liabilities, claims, penalties, charges, and expenses
     (including reasonable counsel fees and expenses) suffered or incurred by or
     asserted or assessed against DTC by reason of Custodian's negligent action
     or negligent failure to act: provided, however, that should Custodian be
     held to be negligent hereunder and should DTC be held to have been
     contributorily negligent in connection therewith, then the aforementioned
     liability shall be shared between Custodian and DTC in such proportion as
     may be set forth in any decision of a court or other tribunal having
     jurisdiction, unless Custodian
<PAGE>

     and DTC shall agree in writing to share such liability in a different
     proportion.

     (b) DTC agrees to indemnify and hold harmless Custodian from and against
     any and all losses, liabilities, claims, taxes, assessments, penalties,
     charges, and expenses (including reasonable counsel fees and expenses)
     suffered or incurred by or asserted or assessed against Custodian by reason
     of any action pursuant to this Agreement or following the instructions of
     DTC in connection with the performance of its duties under this Agreement
     where Custodian has acted in good faith and without negligence, provided,
     however, that should Custodian be held to be negligent hereunder and should
     DTC be held to have been contributorily negligent in connection therewith,
     then the aforementioned liability shall be shared between Custodian and DTC
     in such proportion as may be set forth in any decisions of a court or other
     tribunal having jurisdiction, unless Custodian and DTC shall agree in
     writing to share such liability in a different proportion.
<PAGE>

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
     of the day and year first above written.

     The First National Bank of Chicago     THE DEPOSITORY TRUST COMPANY

     By: /s/ Ronald Thalheimer              By: /s/ Richard B. Nesson
         ------------------------------         --------------------------

             Vice President                            General Counsel
     ----------------------------------     ------------------------------
                (Title)                                       (Title)

     /s/ Luiz N. Rivera
     ----------------------------------
                (Attest)
<PAGE>

                    BOOK-ENTRY-ONLY MONEY MARKET INSTRUMENT
                             (MASTER NOTE) PROGRAM
                                                                       EXHIBIT A
                                                                       ---------

     EXHIBIT A of Certificate Agreement dated as of
________________________, 199 ____ between The Depository Trust Company and

_____________________________.
      ("Custodian")

                                                       Master
                                                        Note
Issuer Name                   Program*            Date of Issuance
-----------                   --------            -----------------

______________________
* As applicable (i) series designator; (ii) rank of indebtedness; and (iii)
reference to the provision of the Securities Act of 1933, as amended, pursuant
to which the Program is exempt from registration.
<PAGE>

                                   EXHIBIT D
                                   ---------

                     ISSUER/IPA/DTC REPRESENTATION LETTER
<PAGE>

                  Book-Entry-Only Corporate Commercial Paper
                             (Master Note) Program

                           Letter of Representations
          (To be Completed by Issuer, Issuing Agent and Paying Agent)

STEELCASE INC.
----------------------------------------------------------------
                               [Name of Issuer]

BANK ONE, NATIONAL ASSOCIATION / #1504
----------------------------------------------------------------
              [Name and DTC Participant Number of Issuing Agent]

BANK ONE, NATIONAL ASSOCIATION / #1504
-----------------------------------------------------------------
               [Name and DTC Participant Number of Paying Agent]

                                                         June 20, 2001
                                                        ------------------------
                                                                  [Date]

Attention: Underwriting Department
The Depository Trust Company
55 Water Street 19th Floor
New York, NY 10041-0099

     Re: STEELCASE INC.
         -----------------------------------------------------------------------

     COMMERCIAL PAPER PROGRAM EXEMPT FROM REGISTRATION
     ---------------------------------------------------------------------------

     PURSUANT TO SECTION 4 (2) OF THE SECURITIES ACT OF 1933
     ---------------------------------------------------------------------------
     [Description of Program, including reference to the provision of the
    Securities Act of 1933, as amended, pursuant to which Program is exempt
                              from registration.]

Ladies and Gentlemen:

This letter sets forth our understanding with respect to certain matters
relating to the issuance by Issuer from time to time of notes under its
Commercial Paper program described above (the "Securities"). Issuing Agent shall
act as issuing agent with respect to the Securities. Paying Agent shall act as
paying agent or other such agent of Issuer with respect to the Securities. The
Securities have been issued pursuant to a prospectus supplement, offering
circular, or other such document authorizing the issuance of the Securities
dated as of June 20, 2001. Paying Agent has entered into a Money Market
Instrument or Commercial Paper Certificate Agreement with The Depository Trust
Company ("DTC") dated as of May 17, 1994, pursuant to which Paying Agent shall
act as custodian of a Master Note Certificate evidencing the Securities, when
issued. Paying Agent shall amend Exhibit A to such Certificate Agreement to
include the program described above, prior to issuance of the Securities.
<PAGE>

To induce DTC to accept the Securities as eligible for deposit at DTC and to act
in accordance with its Rules with respect to the Securities, Issuer, Issuing
Agent, and Paying Agent make the following representations to DTC:

1. The Securities shall be evidenced by a Master Note Certificate in registered
form registered in the name of DTC's nominee, Cede & Co., and such Master Note
Certificate shall represent 100% of the principal amount of the Securities. The
Master Note Certificate shall include the substance of all material provisions
set forth in the DTC model Commercial Paper Master Note, a copy of which
previously has been furnished to Issuing Agent and Paying Agent, and may include
additional provisions as long as they do not conflict with the material
provisions set forth in the DTC model.

2. Issuer: (a) understands that DTC has no obligation to, and will not,
communicate to its participants ("Participants") or to any person having an
interest in the Securities any information contained in the Master Note
Certificate; and (b) acknowledges that neither DTC's Participants nor any person
having an interest in the Securities shall be deemed to have notice of the
provisions of the Master Note Certificate by virtue of submission of such
Certificate to DTC.

3. For Securities to be issued at a discount from the face value to be paid at
maturity ("Discount Securities"), Issuer or Issuing Agent has obtained from the
CUSIP Service Bureau a written list of two basic six-character CUSIP numbers
(each of which uniquely identifies Issuer and two years of maturity dates for
the Discount Securities to be issued under its Commercial Paper program
described above). The CUSIP numbers on such list have been reserved for future
assignment to issues of the Discount Securities based on the maturity year of
the Discount Securities and will be perpetually reassignable in accordance with
DTC's Procedures, including DTC's Final Plan for DTC Money Market Programs and
DTC's Issuing/Paying Agent General Operating Procedures for Corporate Commercial
Paper (the "Procedures"), a copy of which previously has been furnished to
Issuing Agent and Paying Agent.

                                      -2-
<PAGE>

For Securities to be issued at face value with interest to be paid at maturity
only or periodically ("Interest Bearing Securities"), Issuer or Issuing Agent
has obtained from the CUSIP Service Bureau a written list of approximately 900
nine-character numbers (the basic first six characters of which are the same and
uniquely identify Issuer and the Interest Bearing Securities to be issued under
its Commercial Paper program described above). The CUSIP numbers on such list
have been reserved for future assignment to issues of the Interest Bearing
Securities. At any time when fewer than 100 of the CUSIP numbers on such list
remain unassigned, Issuer or Issuing Agent shall promptly obtain from the CUSIP
Service Bureau an additional written list of approximately 900 such numbers.

4. When Securities are to be issued through DTC, Issuing Agent shall notify
Paying Agent and shall give issuance instructions to DTC in accordance with the
Procedures. The giving of such issuance instructions, which include delivery
instructions, to DTC shall constitute: (a) a representation that the Securities
are issued in accordance with applicable law; and (b) a confirmation that the
Master Note Certificate evidencing such Securities, in the form described in
Paragraph 1, has been issued and authenticated.

5. Issuer recognizes that DTC does not in any way undertake to, and shall not
have any responsibility to, monitor or ascertain the compliance of any
transactions in the Securities with the following, as amended from time to time:
(a) any exemptions from registration under the Securities Act of 1933; (b) the
Investment Company Act of 1940; (c) the Employee Retirement Income Security Act
of 1974; (d) the Internal Revenue Code of 1986; (e) any rules of any self-
regulatory organizations (as defined under the Securities Exchange Act of 1934);
or (f) any other local, state, or federal laws or regulations thereunder.

6. Notwithstanding anything set forth in any document relating to a letter of
credit facility, neither DTC nor Cede & Co. shall have any obligations or
responsibilities relating to the letter of credit facility, if any, unless such
obligations or responsibilities are expressly set forth herein.

7. If issuance of Securities through DTC is scheduled to take place one or more
days after Issuing Agent has given issuance instructions to DTC, Issuing Agent
may cancel such issuance by giving a cancellation instruction to DTC in
accordance with the Procedures.

8. At any time that Paying Agent has Securities in its DTC accounts, it may
request withdrawal of such Securities from DTC by giving a withdrawal
instruction to DTC in accordance with the Procedures. Upon DTC's acceptance of
such withdrawal instruction, Paying Agent shall reduce the principal amount of
the Securities evidenced by the Master Note Certificate accordingly.

9. In the event of any solicitation of consents from or voting by holders of the
Securities, Issuer, Issuing Agent, or Paying Agent shall establish a record date
for such purposes (with no provision for revocation of consents or votes by
subsequent holders) and shall send notice of such record date to DTC's
Reorganization Department, Proxy Unit no fewer than 15 calendar days in advance
of such record date. If sent by telecopy, such notice shall be directed to (212)
855-5181 or (212) 855-5182. If the party sending the notice does not receive a
telecopy receipt from DTC, such

                                      -3-
<PAGE>

party shall telephone (212) 855-5187 to confirm receipt. Notice to DTC pursuant
to this Paragraph, by mail or by any other means, shall be sent to:

               Supervisor, Proxy Unit
               Reorganization Department
               The Depository Trust Company
               55 Water Street 50th Floor
               New York, NY 10041-0099

10. Paying Agent may override DTC's determination of interest and principal
payment dates, in accordance with the Procedures.

11. Notice regarding the amount of variable interest and principal payments on
the Securities shall be given to DTC by Paying Agent in accordance with the
Procedures.

12. All notices sent to DTC shall contain the CUSIP number of the Securities.

13. Paying Agent shall confirm with DTC daily, by CUSIP number, the face value
of the Securities outstanding, and Paying Agent's corresponding interest and
principal payment obligation, in accordance with the Procedures.

14. DTC may direct Issuer, Issuing Agent, or Paying Agent to use any other
number or address as the number or address to which notices or payments may be
sent.

15. Payments on the Securities, including payments in currencies other than the
U.S. Dollar, shall be made by Paying Agent in accordance with the Procedures.

16. In the event that Issuer determines that beneficial owners of the Securities
shall be able to obtain certificated Securities, Issuer, Issuing Agent, or
Paying Agent shall notify DTC of the availability of certificates. In such
event, Issuer, Issuing Agent, or Paying Agent shall issue, transfer, and
exchange certificates in appropriate amounts, as required by DTC and others.

17. Issuer authorizes DTC to provide to Issuing Agent or Paying Agent listings
of DTC Participants' holdings, known as Security Position Listings ("SPLs") with
respect to the Securities from time to time at the request of Issuing Agent or
Paying Agent. Issuer authorizes Issuing Agent and Paying Agent to provide DTC
with such signatures, exemplars of signatures, and authorizations to act as may
be deemed necessary by DTC to permit DTC to discharge its obligations to
Participants and appropriate regulatory authorities. DTC charges a fee for such
SPLs. This authorization, unless revoked by Issuer, shall continue with respect
to the Securities while any Securities are on deposit at DTC, until and unless
Issuing Agent and/or Paying Agent shall no longer be acting. In such event,
Issuer shall provide DTC with similar evidence, satisfactory to DTC, of the
authorization of any successor thereto so to act. Requests for SPLs, if by
telecopy, shall be directed to DTC's Reorganization Department, Proxy Unit at
(212) 855-5181 or (212) 855-5182. Receipt of such requests shall be confirmed by
telephoning (212) 855-5202. Such SPL requests, by mail or by any other means,
shall be directed to the address indicated in Paragraph 9.

                                      -4-
<PAGE>

18. DTC may discontinue providing its services as securities depository with
respect to the Securities at any time by giving reasonable notice to Issuer,
Issuing Agent, or Paying Agent (at which time DTC will confirm with Issuer,
Issuing Agent, or Paying Agent the aggregate amount of Securities outstanding by
CUSIP number). Under such circumstances, at DTC's request Issuer, Issuing Agent,
and Paying Agent shall cooperate fully with DTC by taking appropriate action to
make available one or more separate certificates evidencing Securities to any
Participant having Securities credited to its DTC accounts.

19. Nothing herein shall be deemed to require Issuing Agent or Paying Agent to
advance funds on behalf of Issuer.

20. This Letter of Representations may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original,
but all such counterparts together shall constitute but one and the same
instrument.

21. This Letter of Representations shall be governed by, and construed in
accordance with, the laws of the State of New York, without giving effect to
principles of conflicts of law.

22. The sender of each notice delivered to DTC pursuant to this Letter of
Representations is responsible for confirming that such notice was properly
received by DTC.

23. Issuer and Agents shall comply with the applicable requirements stated in
DTC's Operational Arrangements, as they may be amended from time to time. DTC's
Operational Arrangements are posted on DTC's website at "www.DTC.org."

24. The following riders, attached hereto, are hereby incorporated into this
Letter of Representations:

          NONE
--------------------------------------------------------------------------------
________________________________________________________________________________

                                      -5-
<PAGE>

Note:

Schedule A contains statements that DTC believes
accurately describe DTC, the method of effecting
book-entry transfer of securities distributed through
DTC, and certain related matters.

                                        Very truly yours,

                                        STEELCASE, INC.
                                        ----------------------------------------
                                                       [Issuer]

                                        By: /s/ Gary P. Malburg
                                            ------------------------------------
                                              [Authorized Officer's Signature]

                                        BANK ONE, NATIONAL ASSOCIATION
                                        ------------------------------
                                                  [Issuing Agent]

                                        By: /s/ Tamra Amos
                                            ------------------------------------
                                              [Authorized Officer's Signature]

                                        BANK ONE, NATIONAL ASSOCIATION
                                        ----------------------------------------
                                                  [Paying Agent]

                                        By: /s/ Tamra Amos
                                            ------------------------------------
                                              [Authorized Officer's Signature]

Received and Accepted:
THE DEPOSITORY TRUST COMPANY

cc: Underwriter
Underwriter's Counsel
cp1848-7/99

                                      -6-
<PAGE>

                                                                      SCHEDULE A
                                                                      ----------
                       SAMPLE OFFERING DOCUMENT LANGUAGE
                      DESCRIBING BOOK-ENTRY-ONLY ISSUANCE
                      -----------------------------------
(Prepared by DTC--bracketed material may be applicable only to certain issues)

1. The Depository Trust Company ("DTC"), New York, NY, will act as securities
depository for the securities (the "Securities"). The Securities will be issued
as fully-registered securities registered in the name of Cede & Co. (DTC's
partnership nominee) or such other name as may be requested by an authorized
representative of DTC. One fully-registered Security certificate will be issued
for [each issue of] the Securities, [each] in the aggregate principal amount of
such issue, and will be deposited with DTC. [If, however, the aggregate
principal amount of [any] issue exceeds $400 million, one certificate will be
issued with respect to each $400 million of principal amount and an additional
certificate will be issued with respect to any remaining principal amount of
such issue.]

2. DTC is a limited-purpose trust company organized under the New York Banking
Law, a "banking organization" within the meaning of the New York Banking Law, a
member of the Federal Reserve System, a "clearing corporation" within the
meaning of the New York Uniform Commercial Code, and a "clearing agency"
registered pursuant to the provisions of Section 17A of the Securities Exchange
Act of 1934. DTC holds securities that its participants ("Direct Participants")
deposit with DTC. DTC also facilitates the settlement among Direct Participants
of securities transactions, such as transfers and pledges, in deposited
securities through electronic computerized book-entry changes in Direct
Participants' accounts, thereby eliminating the need for physical movement of
securities certificates. Direct Participants include securities brokers and
dealers, banks, trust companies, clearing corporations, and certain other
organizations. DTC is owned by a number of its Direct Participants and by the
New York Stock Exchange, Inc., the American Stock Exchange LLC, and the National
Association of Securities Dealers, Inc. Access to the DTC system is also
available to others such as securities brokers and dealers, banks, and trust
companies that clear through or maintain a custodial relationship with a Direct
Participant, either directly or indirectly ("Indirect Participants"). The Rules
applicable to DTC and its Direct and Indirect Participants are on file with the
Securities and Exchange Commission.

3. Purchases of Securities under the DTC system must be made by or through
Direct Participants, which will receive a credit for the Securities on DTC's
records. The ownership interest of each actual purchaser of each Security
("Beneficial Owner") is in turn to be recorded on the Direct and Indirect
Participants' records. Beneficial Owners will not receive written confirmation
from DTC of their purchase, but Beneficial Owners are expected to receive
written confirmations providing details of the transaction, as well as periodic
statements of their holdings, from the Direct or Indirect Participant through
which the Beneficial Owner entered into the transaction. Transfers of ownership
interests in the Securities are to be accomplished by entries made on the books
of Direct and Indirect Participants acting on behalf of Beneficial Owners.
Beneficial Owners will not receive certificates representing their ownership
interests in Securities, except in the event that use of the book-entry system
for the Securities is discontinued.

                                      -7-
<PAGE>

4.  To facilitate subsequent transfers, all Securities deposited by Direct
Participants with DTC are registered in the name of DTC's partnership nominee,
Cede & Co. or such other name as may be requested by an authorized
representative of DTC. The deposit of Securities with DTC and their registration
in the name of Cede & Co. or such other nominee do not effect any change in
beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of
the Securities; DTC's records reflect only the identity of the Direct
Participants to whose accounts such Securities are credited, which may or may
not be the Beneficial Owners. The Direct and Indirect Participants will remain
responsible for keeping account of their holdings on behalf of their customers.

5.  Conveyance of notices and other communications by DTC to Direct
Participants, by Direct Participants to Indirect Participants, and by Direct
Participants and Indirect Participants to Beneficial Owners will be governed by
arrangements among them, subject to any statutory or regulatory requirements as
may be in effect from time to time. [Beneficial Owners of Securities may wish to
take certain steps to augment transmission to them of notices of significant
events with respect to the Securities, such as redemptions, tenders, defaults,
and proposed amendments to the security documents. Beneficial Owners of
Securities may wish to ascertain that the nominee holding the Securities for
their benefit has agreed to obtain and transmit notices to Beneficial Owners, or
in the alternative, Beneficial Owners may wish to provide their names and
addresses to the registrar and request that copies of the notices be provided
directly to them.]

[6. Redemption notices shall be sent to DTC. If less than all of the Securities
within an issue are being redeemed, DTC's practice is to determine by lot the
amount of the interest of each Direct Participant in such issue to be redeemed.]

7.  Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote
with respect to the Securities. Under its usual procedures, DTC mails an Omnibus
Proxy to Issuer as soon as possible after the record date. The Omnibus Proxy
assigns Cede & Co.'s consenting or voting rights to those Direct Participants to
whose accounts the Securities are credited on the record date (identified in a
listing attached to the Omnibus Proxy).

8.  Redemption proceeds, distributions, and dividend payments on the Securities
will be made to Cede & Co., or such other nominee as may be requested by an
authorized representative of DTC. DTC's practice is to credit Direct
Participants' accounts, upon DTC's receipt of funds and corresponding detail
information from Issuer or Agent on payable date in accordance with their
respective holdings shown on DTC's records. Payments by Participants to
Beneficial Owners will be governed by standing instructions and customary
practices, as is the case with securities held for the accounts of customers in
bearer form or registered in "street name," and will be the responsibility of
such Participant and not of DTC, Agent, or Issuer, subject to any statutory or
regulatory requirements as may be in effect from time to time. Payment of
redemption proceeds, distributions, and dividends to Cede & Co. (or such other
nominee as may be requested by an authorized representative of DTC) is the
responsibility of Issuer or Agent, disbursement of such payments to Direct
Participants shall be the responsibility of DTC, and disbursement of such
payments to the Beneficial Owners shall be the responsibility of Direct and
Indirect Participants.

                                      -8-
<PAGE>

[9. A Beneficial Owner shall give notice to elect to have its Securities
purchased or tendered, through its Participant, to [Tender/Remarketing] Agent,
and shall effect delivery of such Securities by causing the Direct Participant
to transfer the Participant's interest in the Securities, on DTC's records, to
[Tender/Remarketing] Agent. The requirement for physical delivery of Securities
in connection with an optional tender or a mandatory purchase will be deemed
satisfied when the ownership rights in the Securities are transferred by Direct
Participants on DTC's records and followed by a book-entry credit of tendered
Securities to [Tender/Remarketing] Agent's DTC account.]

10. DTC may discontinue providing its services as securities depository with
respect to the Securities at any time by giving reasonable notice to Issuer or
Agent. Under such circumstances, in the event that a successor securities
depository is not obtained, Security certificates are required to be printed and
delivered.

11. Issuer may decide to discontinue use of the system of book-entry transfers
through DTC (or a successor securities depository). In that event, Security
certificates will be printed and delivered.

12. The information in this section concerning DTC and DTC's book-entry system
has been obtained from sources that Issuer believes to be reliable, but Issuer
takes no responsibility for the accuracy thereof.

                                      -9-
<PAGE>

                  Representations for Rule 144A Securities--
                to be included in DTC Letter of Representations
                -----------------------------------------------

1. Issuer represents that at the time of initial registration in the name of
DTC's nominee, Cede & Co., the Securities were Legally or Contractually
Restricted Securities,1 eligible for transfer under Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and identified by a
CUSIP or CINS number assigned to any securities of the same class that were not
Legally or Contractually Restricted Securities. Issuer shall ensure that a CUSIP
or CINS identification number is obtained for all unrestricted securities of the
same class that is different from any CUSIP or CINS identification number
assigned to a Legally or Contractually Restricted Security of such class, and
shall notify DTC promptly in the event that it is unable to do so. Issuer
represents that it has agreed to comply with all applicable information
requirements of Rule 144A.

2. Issuer represents that the Securities are an issue of nonconvertible debt
securities or nonconvertible preferred stock which is rated in one of the top
four categories by a nationally recognized statistical rating organization
("Investment Grade Securities").

3. If the Securities are not Investment-Grade Securities, Issuer and Agent
acknowledge that if such Securities cease to be included in an SRO Rule 144A
System during any period in which such Securities are Legally or Contractually
Restricted Securities, such Securities shall no longer be eligible for DTC's
services. Furthermore, DTC may discontinue providing its services as securities
depository with respect to the Securities at any time by giving reasonable
notice to Issuer or Agent. Under any of the aforementioned circumstances, at
DTC's request, Issuer and Agent shall cooperate fully with DTC by taking
appropriate action to make available one or more separate certificates
evidencing Securities to any DTC Participant ("Participant") having Securities
credited to its DTC accounts.

4. Issuer and Agent acknowledge that, so long as Cede & Co. is a record owner of
the Securities, Cede & Co. shall be entitled to all applicable voting rights and
receive the full amount of all distributions payable with respect thereto.
Issuer and Agent acknowledge that DTC shall treat any Participant having
Securities credited to its DTC accounts as entitled to the full benefits of
ownership of such Securities.

________________________
1 A "Legally Restricted Security" is a security that is a restricted security,
as defined in Rule 144(a)(3). A "Contractually Restricted Security" is a
security that upon issuance and continually thereafter can only be sold pursuant
to Regulation S under the Securities Act, Rule 144A, Rule 144, or in a
transaction exempt from the registration requirements of the Securities Act
pursuant to Section 4 of the Securities Act and not involving any public
offering; provided, however, that once the security is sold pursuant to the
provisions of Rule 144, including Rule 144(k), it will thereby cease to be a
"Contractually Restricted Security." For purposes of this definition, in order
for a depositary receipt to be considered a "Legally or Contractually Restricted
Security," the underlying security must also be a "Legally or Contractually
Restricted Security."

Rider10-7/99
<PAGE>

Without limiting the generality of the preceding sentence, Issuer and Agent
acknowledge that DTC shall treat any Participant having Securities credited to
its DTC accounts as entitled to receive distributions (and voting rights, if
any) in respect of the Securities, and to receive from DTC certificates
evidencing Securities. Issuer and Agent recognize that DTC does not in any way
undertake to, and shall not have any responsibility to, monitor or ascertain the
compliance of any transactions in the Securities with any of the provisions: (a)
of Rule 144A; (b) of other exemptions from registration under the Securities Act
or any other state or federal securities laws; or (c) of the offering documents.

Rider 10-7/99
<PAGE>

                                   EXHIBIT E
                                   ---------

                   TELEPHONE NUMBERS FOR TELEPHONIC ISSUANCE
                            INSTRUCTIONS TO THE IPA
<PAGE>

                   TELEPHONE NUMBERS FOR TELEPHONIC ISSUANCE
                            INSTRUCTIONS TO THE IPA

                   BANK ONE GLOBAL CORPORATE TRUST SERVICES
                        ISSUING AND PAYING AGENCY UNIT

------------------------------------------------------------------------------

               IPA CLIENT SERVICES UNIT
------------------------------------------------------------------------------

                    Contact Name                                Phone Number
------------------------------------------------------------------------------

Tamra Amos, Lead Account Executive                              (312) 407-4722
------------------------------------------------------------------------------

Ella Eison, Account Representative                              (312) 407-5381
------------------------------------------------------------------------------

Lawrence Dillard, Managing Director                             (312) 407-1737
------------------------------------------------------------------------------

     IPA CORPORATE TRUST ACCOUNT ADMINISTRATION
------------------------------------------------------------------------------

                    Contact Name                                Phone Number
------------------------------------------------------------------------------

Maria Romero, Account Representative                            (312) 407-3358
------------------------------------------------------------------------------

Kathleen Casey, Account Representative                          (312) 407-8711
------------------------------------------------------------------------------

Larry Kusch, Account Manager                                    (312) 366-9774
------------------------------------------------------------------------------

Facsimile                                                       (312) 407-4154
------------------------------------------------------------------------------

Mailing Address: Bank One, NA
                 Mail Suite IL1-0439
                 1 Bank One Plaza
                 Chicago, IL 60671
------------------------------------------------------------------------------
------------------------------------------------------------------------------

                    IPA OPERATIONS UNIT
------------------------------------------------------------------------------

                         Contact Name                           Phone Number
------------------------------------------------------------------------------

Marilyn Carroll, Senior Securities Specialist                   (312) 407-2622
------------------------------------------------------------------------------

Edwin Freeman, Senior Securities Specialist                     (312) 407-5497
------------------------------------------------------------------------------

Omar Johnson, Senior Securities Specialist                      (312) 336-9272
------------------------------------------------------------------------------

Maria Navarro, Senior Securities Specialist                     (312) 407-1934
------------------------------------------------------------------------------

Steven Davis, Senior Securities Specialist                      (312) 407-2624
------------------------------------------------------------------------------

LaTanya Pennington, Senior  Securities Specialist               (312) 407-1798
------------------------------------------------------------------------------

Denise Bass, Operations Manager                                 (312) 407-2623
------------------------------------------------------------------------------

Judy Bartman, Director of Operations                            (312) 336-9273
------------------------------------------------------------------------------

Facsimile                                                       (312) 407-2625
------------------------------------------------------------------------------

Mailing Address: Bank One, NA
                 Mail Suite IL1-0488
                 1 Bank One Plaza
                 Chicago, IL 60670
------------------------------------------------------------------------------
<PAGE>

                                   EXHIBIT F
                                   ---------
<PAGE>

                                STEELCASE INC.
                                --------------

                           INITIAL SCHEDULE OF FEES

Service Descriptions               Unit Charge

Commercial Paper Issuance
   Book Entry Issuance             $   15.00 per trade
   Voided Book Entry Issuance      $   15.00 per trade

Monthly Minimum Fee                $  250.00 per month

System Fee/GAITIR Software         $  250.00 per month

Administration Fee                 $  250.00 per month

IPA initiated wire transfer        $   20.00 per wire

Acceptance Fee                     $ 1500.00 (one time)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}]]