Sappi Limited - Dealing in securities by directors of listed companies

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 of the Listing Requirements of the JSE Limited, we   
hereby provide the following information regarding dealing in securities of     
Sappi by a director of one 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 3.74, is as       
follows:                                                                        
Director"s Name          :    Hugh Martin                                       
Company (Subsidiary)     :    Sappi Papier Holding GmbH                         
Date of transaction      :    17 May 2006                                       
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    :    63 000                                            
                                                            Offer     Selling   
                                                            Price     Price     
Dates rights granted          1.   6215 on 24 February 1997:R34,90    R82,50    
and prices                    2.   1785 on 24 February 1997:R34,90    R82,55    
                              3.   1055 on 19 January 1998 :R19,90    R82,55    
                              4.    400 on 19 January 1998 :R19,90    R82,60    
5.    200 on 19 January 1998 :R19,90    R82,61    

                              6.   4959 on 19 January 1998 :R19,90    R83,75    
                              7.   2041 on 19 January 1998 :R19,90    R83,90    
                              8.   6345 on 19 January 1998 :R19,90    R84,00    
9.  15000 on 11 December 1998:R22,10    R84,00    

                              10. 15000 on 22 December 1999:R53,85    R84,00    
                              11. 10000 on 15 January 2001 :R49,00    R84,00    
Vesting period           :    Over 5 years                                      
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial                                 
Johannesburg                                                                    
19 May 2006                                                                     
Sponsor: UBS                                                                    
Date: 19/05/2006 11:47:07 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department