This paper deals with the analysis of the natural frequencies, mode shapes of an axially loaded multi-step Timoshenko beam combined system carrying several attachments. The influence of system design and the proposed sub-system non-dimensional parameters on the combined system characteristics are the major part of this investigation. The effect of material properties, rotary inertia and shear deformation of the beam system for each span are included. The end masses are elastically supported against rotation and translation at an offset point from the point of attachment. A sub-system having two degrees of freedom is located at the beam ends and at any of the intermediate stations and acts as a support and/or a suspension. The boundary conditions of the ordinary differential equation governing the lateral deflections and slope due to bending of the beam system including the shear force term, due to the sub-system, have been formulated. Exact global coefficient matrices for the combined modal frequencies, the modal shape and for the discrete sub-system have been derived. Based on these formulae, detailed parametric studies of the combined system are carried out. The applied mathematical model is valid for wide range of applications especially in mechanical, naval and structural engineering fields.