SAPPI LIMITED - DAELING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES

SAPPI LIMITED - DAELING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES          
SAPPI LIMITED                                                                   
(Reg no 1936008963/06)                                                          
SHARE CODE: SAP                                                                 
ISIN CODE: ZAE000006284                                                         
DEALING IN SECURITIES BY DIRECTORS OF LISTED COMPANIES                          
In terms of paragraph 3.72 of the listings requirements of the JSE Securities   
Exchange, we hereby provide you with the following information regarding dealing
in securities of Sappi by directors of the company, viz:                        
Director                      :         Wolfgang Pfarl                          
Date of transaction           :         12 December 2003                        
Nature of transactions        :         Sales                                   
Number of shares sold         :         60 000 shares                           
Selling price                 :         1.20 000 shares at R84,90 per share     
                                        2.40 000 share at R85,00 per share      
Class of security             :         Ordinary shares                         
Extent of interest            :         Direct beneficial                       
18 December 2003                                                                
Date: 18/12/2003 09:32:01 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department