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Wed 10 Mar 2004, 12:46 Directors Dealing In Securities
Sappi Limited - Directors Dealing In Securities 
Release Date: 10/03/2004 12:41:01      Code(s): SAP 
Sappi Limited - Director"s dealing in securities                                
Sappi Limited                                                                   
(Registration number 1936/008963/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SAP     ISIN: ZAE000006284)                                         
("Sappi" or the "Company")                                                      
Director"s dealing in securities                                                
In terms of paragraph 3.63 to 3.74 of the Listings Requirements of the JSE      
Securities Exchange, we hereby provide the following information regarding      
dealing in securities of Sappi by a director of the Company.   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                    :    John Leonard Job                        
Company                            :    Sappi Limited                           
Date of transaction                :    9 March 2004                            
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              :    4 000                                   
Dates rights granted                                                            
and prices                         :    9 June 1999, R39,00                     
Vesting period                     :    Over 5 years                            
Selling price                      :    R92,50                                  
Class of security                  :    Ordinary shares                         
Extent of interest                 :    Direct beneficial                       
Johannesburg                                                                    
10 March 2004                                                                   
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