SAPPI LIMITED RESULT OF GENERAL MEETING

SAPPI LIMITED
(INCORPORATED IN THE REPUBLIC OF SOUTH AFRICA)
(REGISTRATION NUMBER 05/08963/06)
("SAPPI")
RESULT OF GENERAL MEETING
1. RESULT OF GENERAL MEETING

AT A GENERAL MEETING OF SAPPI SHAREHOLDERS HELD ON FRIDAY, 5 NOVEMBER 1999,
SAPPI SHAREHOLDERS PASSED THE ORDINARY RESOLUTIONS NECESSARY TO AUTHORISE A
SPECIFIC ISSUE FOR CASH OF A MAXIMUM OF 36 000 000 ORDINARY SHARES ("THE
SPECIFIC ISSUE") BY WAY OF A PROPOSED GLOBAL EQUITY OFFERING.
2. FURTHER ANNOUNCEMENT

A FURTHER ANNOUNCEMENT PROVIDING DETAILS OF THE SPECIFIC ISSUE WILL BE MADE
ONCE THE PROPOSED GLOBAL EQUITY OFFERING HAS BEEN COMPLETED.
NOTE:

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OR AN INVITATION TO ANY PERSON
TO SUBSCRIBE FOR OR PURCHASE ANY SHARES OF SAPPI.
JOHANNESBURG
8 NOVEMBER 1999
FINANCIAL ADVISER
MORGAN STANLEY DEAN WITTER
MORGAN STANLEY SOUTH AFRICA (PROPRIETARY) LIMITED
(REGISTRATION NUMBER 94/00261/07)
LEGAL ADVISORS
WERKSMANS ATTORNEYS
SPONSORING BROKER
FLEMING MARTIN SECURITIES LTD
REGISTRATION NUMBER 95/11815/06
MEMBER OF THE JOHANNESBURG STOCK EXCHANGE
AUDITORS
DELOITTE & TOUCHE
CHARTERED ACCOUNTANTS (SA)