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Tue 10 Aug 2004, 11:43 Sappi Limited - Director"s dealing in securities
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 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 a major subsidiary 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          :    Mark Richard Thompson                             
Company (Subsidiary)     :    Sappi Papier Holding GmbH                         
Date of transaction      :    6 August 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    :    3 000                                             
Dates rights granted                                                            
and prices               :    R22,10 : 11 December 1998                         
Vesting period           :    Over 5 years                                      
Selling price            :    R92,85                                            
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial                                 
Johannesburg                                                                    
10 August 2004
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