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Tue 7 Sep 2004, 14:55 Sappi Limited - Dealing in securities
Sappi Limited - 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`)                                                      
  DEALING IN SECURITIES                                                           
  In terms of paragraph 3.63 of the Listing Requirements of the JSE Securities    
  Exchange, we hereby provide the following information regarding dealing in      
  securities of Sappi by a director of the Company`s major subsidiary companies.  
  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          :    Kaj Peter Burchardi                               
  Company (Subsidiary)     :    Sappi International SA                            
  Date of transaction      :    6 September 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         :    1)   2 500                                        
  exercised/shares sold    :    2)   2 400                                        
                           :    3)     584                                        
  Dates rights granted     :    1)   24 February 1997 : R34,90                    
  and prices               :    2)   19 January 1998  : R19,90                    
                           :    3)   11 December 1998 : R22,10                    
  Vesting period           :    Over 5 years                                      
  Selling price            :    R93,00                                            
  Class of security        :    Ordinary shares                                   
  Extent of interest       :    Direct beneficial                                 
  7 September 2004                                                                
  Date: 07/09/2004 02:45:02 PM Produced by the JSE SENS Department
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