SAPPI LIMITED DIVIDEND NUMBER 79

SAPPI LIMITED DIVIDEND NUMBER 79                                                
SAPPI LIMITED                                                                   
(Reg.No. 1936/008963/06)                                                        
ISIN: ZAE000006284                                                              
Share code: SAP                                                                 
With reference to the dividend announcement of 7 November 2002, we set out      
below the exchange rates to be applied for payment of the dividend :            
US$1- R8.8512 (ie dividend R2.47834 per share)                                  
US$1 - GBP0.6257 (ie dividend of GBP0.1752 per share).                          
The relevant dates pertaining to the dividend are as follows :                  
Last day to trade cum dividend                    - Friday, 3 January 2003.     
Date on which shares commence trading ex-dividend - Monday, 6 January 2003.     
Currency election date for non-resident                                         
shareholders holding                                                            
through South African Nominee Companies           - Wednesday, 8 January 2003.  
Record date                                       - Friday, 10 January 2003.    
Payment date                                      - Monday 13 January 2003.     
There will not be any de-materialisation nor re-materialisation of Sappi        
Limited share certificates from 6 to 10 January 2003, both days inclusive.      
Date: 24/12/2002 12:35:01 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department