STEELCASE INC
5, 1999-02-22
OFFICE FURNITURE (NO WOOD)
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                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 5

               ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[_]  Check box if no longer  subject to Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).

[X]  Form 3 Holdings Reported

[_]  Form 4 Transactions Reported

________________________________________________________________________________
1.   Name and Address of Reporting Person*


     Beldon II Fund
- --------------------------------------------------------------------------------
   (Last)                            (First)              (Middle)


     2000 P. St. Suite 410
- --------------------------------------------------------------------------------
                                    (Street)


     Washington                      DC                     20036
- --------------------------------------------------------------------------------
   (City)                            (State)                (Zip)


________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol

     Steelcase Inc. (SCS)

________________________________________________________________________________
3.   IRS or Social Security Number of Reporting Person (Voluntary)



________________________________________________________________________________
4.   Statement for Month/Year

                                      1998

________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Year)



________________________________________________________________________________
6.   Relationship of Reporting Person(s) to Issuer
     (Check all applicable)

     [_]  Director                             [_]  10% Owner
     [_]  Officer (give title below)           [X]  Other (specify below)

Member of a Section 13(d) group

________________________________________________________________________________
7.   Individual or Joint/Group Filing
     (Check applicable line)

     [X]  Form filed by One Reporting Person
     [_]  Form filed by More than One Reporting Person
________________________________________________________________________________


================================================================================
           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
                                                                                                 5.             6.
                                                                 4.                              Amount of      Owner-
                                                                 Securities Acquired (A) or      Securities     ship      
                                                                 Disposed of (D)                 Beneficially   Form:     7.        
                                                                 (Instr. 3, 4 and 5)             Owned at End   Direct    Nature of 
                                      2.            3.           -----------------------------   of Issuer's    (D) or    Indirect  
1.                                    Transaction   Transaction                  (A)             Fiscal Year    Indirect  Beneficial
Title of Security                     Date          Code             Amount      or     Price    (Instr. 3      (I)       Ownership 
(Instr. 3)                            (mm/dd/yy)    (Instr. 8)                   (D)             and 4)         (Instr.4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                   <C>            <C>             <C>         <C>    <C>      <C>            <C>       <C>

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

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

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

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

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

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

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

====================================================================================================================================
</TABLE>
*    If the form is filed by more than one  reporting  person,  see  instruction
     4(b)(v).

NY219863.U1
                                                                          (Over)
                                                                 SEC 2270 (3/91)

<PAGE>


FORM 5 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                          9.        10.    
                                                                                                          Number    Owner- 
                                                                                                          of        ship   
                    2.                                                                                    Deriv-    of     
                    Conver-                    5.                              7.                         ative     Deriv-   11.    
                    sion                       Number of                       Title and Amount           Secur-    ative    Nature 
                    or                         Derivative    6.                of Underlying     8.       ities     Secur-   of     
                    Exer-                      Securities    Date              Securities        Price    Bene-     ity:     In-    
                    cise     3.                Acquired (A)  Exercisable and   (Instr. 3 and 4)  of       ficially  Direct   direct 
                    Price    Trans-   4.       or Disposed   Expiration Date   ----------------  Deriv-   Owned     (D) or   Bene-  
1.                  of       action   Trans-   of (D)        (Month/Day/Year)            Amount  ative    at End    In-      ficial 
Title of            Deriv-   Date     action   (Instr. 3,    ----------------            or      Secur-   of        direct   Owner- 
Derivative          ative    (Month/  Code     4 and 5)      Date     Expira-            Number  ity      Year      (I)      ship   
Security            Secur-   Day/     (Instr.  ------------  Exer-    tion               of      (Instr.  (Instr.   (Instr.  (Instr.
(Instr. 3)          ity      Year)    8)        (A)   (D)    cisable  Date     Title     Shares  5)       4)        4)       4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>      <C>      <C>       <C>   <C>    <C>      <C>      <C>       <C>     <C>      <C>       <C>      <C>
                                                                               Class A
                                                                               Common
Class B Common Stock                  3(1)      652,571      Immed             Stock     652,571                    D
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                               Class A
                                                                               Common
Class B Common Stock         6/18/98   G        1,481,650    Immed             Stock     1,481,650        2,135,221 D
- ------------------------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

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

====================================================================================================================================
</TABLE>
Explanation of Responses:  

(1)  Beldon II Fund owned these shares at the time the  issuer's  Class A Common
     Stock was  registered  under Section 12 of the  Securities  Exchange Act of
     1934.


           /s/ John R. Hunting                                   2/19/99
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date
       as President of Beldon II Fund

**   Intentional misstatements or omissions of facts constitute Federal Criminal
     Violations.

     See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:  File three copies of this Form, one of which must be manually signed.
       If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information  contained
in this form are not  required to respond  unless the form  displays a currently
valid OMB number


                                                                          Page 2
                                                                 SEC 2270 (7/96)
NY219863.U1





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