SAPPI LIMITED - DIVIDEND NUMBER 80

SAPPI LIMITED - DIVIDEND NUMBER 80                                              
SAPPI LIMITED                                                                   
JSE Code: SAP                                                                   
ISIN Code: ZAE000006284                                                         
DIVIDEND NUMBER 80                                                              
With reference to the dividend announcement of 10 November 2003, we set out     
below the exchange rates to be applied for payment of the dividend :            
US$1 - R 6,9025 (ie dividend R2,0017 per share)                                 
US$1 - GBP0,5668 (ie dividend of GBP0,1644 per share).                          
The relevant dates pertaining to the dividend are as follows :                  
Last day to trade to qualify for dividend - Friday, 2 January 2004.             
Date on which shares commence trading ex-dividend - Monday, 5 January 2004.     
Deadline for South African nominee companies to submit details of the number    
of shares held on behalf of South African resident and non-resident beneficial  
shareholders so that dividend payments in United States Dollars and South       
African Rands respectively may be calculated - 14h00 (South African time), 7    
January 2004. (Note that there is no currency election).  Dividends payable from
the Johannesburg transfer office will be paid in South African Rands            
except that dividends paid to nominee shareholders in respect of shares which   
they hold on behalf of non-residents of the Republic of South Africa will be    
paid in United States Dollars.                                                  
Dividends payable from the London transfer office will be paid in British       
pounds sterling or in the case of shareholders with registered addresses in the 
USA, in United States Dollars.                                                  
Record date - Friday, 9 January 2004.                                           
Payment date - Monday, 12 January 2004.                                         
There will not be any de-materialisation nor re-materialisation of Sappi Limited
share certificates from Monday, 5 to Friday, 9 January 2004, both days          
inclusive.                                                                      
Sappi Management Services (Pty) Limited                                         
Secretaries : per D J O"Connor                                                  
48 Ameshoff Street                                                              
Braamfontein, Johannesburg, 2001                                                
Margaret Simmonds                                                               
Secretary to D J O"Connor                                                       
Sappi Limited (Reg.No. 1936/008963/06)                                          
Tel +27 (0)11 407 8162                                                          
Fax +27 (0)11 403 1493                                                          
margarets@za.sappi.com                                                          
Date: 23/12/2003 02:52:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department