Mr. Sameet Kanade reports

STEEP HILL ANNOUNCES DEBT SETTLEMENT

Steep Hill Inc. intends to settle an aggregate of $79,278 of indebtedness to a non-arm's-length creditors of the company through the issuance of 1,321,300 common shares in the capital of the company at a price of six cents per common share. The common shares issued pursuant to the debt settlement shall be subject to a four-month hold period and completion of the transaction remains subject to final acceptance of the Canadian Securities Exchange.

The debt settlement is constituted related party transactions as defined in Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as insiders of the company will receive an aggregate of 1,321,300 common shares. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 as the company is not listed on a specified market and the fair market value of the participation in the offering by insiders does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101.

About Steep Hill Inc.

Steep Hill is a publicly traded company listed on the CSE that has no current operations and is focused on seeking and evaluating potential transactions.

We seek Safe Harbor.