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Wed 22 Dec 2004, 15:08 DEALING IN SECURITIES BY DIRECTORS
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 to 3.74 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                    :    Mark Richard Thompson                   
Company (Subsidiary)               :    Sappi Papier Holding GmbH               
Date of transaction                :    21 December 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                         :    R22,10 : 11 December 1998               
Vesting period                     :    Over 5 years                            
Selling price                      :    R82,00                                  
Class of security                  :    Ordinary shares                         
Extent of interest                 :    Direct beneficial                       
22 December 2004                                                                
Date: 22/12/2004 02:55:05 PM                    
Produced by the JSE SENS Department
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