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Wed 23 May 2007, 16:23 SAP - Sappi Limited - Dealing in securities by dir
SAP
 SAVVI                                                                           
SAP - Sappi Limited - Dealing in securities by directors of listed companies    
Sappi Limited                                                                   
(Registration number 1936/008963/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SAP     ISIN: ZAE000006284)                                         
("Sappi" or the "Company")                                                      
DEALING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES                          
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we  
hereby provide the following information regarding dealing in securities of     
Sappi by a director of the Company and by directors of a major subsidiary.  The 
dealing which is in terms of the Sappi Limited Share Incentive Scheme, and for  
which clearance was received in terms of Listings Requirement 3.66, is as       
follows:                                                                        
Director`s Name               :    C M Mowatt                                   
Company (Subsidiary)          :    Sappi Forest Products                        
Date of transaction           :    22 May 2007                                  
Nature of transaction         :    Sale of shares arising from exercise of      
                                  rights to shares in terms of the Sappi        
                                  Limited Share Incentive Scheme                
Number of rights                                                                
exercised/shares sold         :    2 300                                        
                       Offer Date                  Offer      Selling           
                                                   Price      Price             

Date rights         1.  1 782 on 22 December 1999   R53,85     R131,80          
granted                                                                         
and prices          2.  518 on 22 December 1999     R53,85     R131,77          
Vesting period           :    Over 5 years                                      
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial                                 
Ldoc002                                                                         
jserau                                                                          
Director`s Name               :    F H Coleman                                  
Company  (Subsidiary)         :    Sappi Forest Products                        
Date of transaction           :    22 May 2007                                  
Nature of transaction         :    Sale of shares arising from exercise of      
                                  rights to shares in terms of the Sappi        
                                  Limited Share Incentive Scheme                
Number of rights                                                                
exercised/shares sold         :    8 000                                        
                       Offer Date            Offer    Selling                   
                                             Price    Price                     
                                                                                
Date rights         1.  on 13 February 2003   R112,83  R131,00                  
granted                                                                         
and prices                                                                      
Vesting period                :    Over 5 years                                 
Class of security             :    Ordinary shares                              
Extent of interest            :    Direct beneficial                            
Ldoc002                                                                         
Jsecolemans                                                                     
23 May 23, 2007                                                                 
UBS Warburg                                                                     
Date: 23/05/2007 16:23:01 Produced by the JSE SENS Department.
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