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SAP - Sappi Limited - Press Release Sappi Limited Registration Number 1936/008963/06 (Incorporated in the Republic of South Africa) Issuer Code: SAVVI JSE Code: SAP ISIN: ZAE000006284 Press Release 11 April 2008 London Stock Exchange Trading Platform In order to facilitate the trading of Sappi Limited shares on the London Stock Exchange on which Sappi has been listed since 1992, Sappi has arranged for its shares to be traded on the London Stock Exchange`s SETSmm Trading Platform with effect from 23 April 2008 through the trading of Depository Interests in respect of the underlying Sappi shares. Settlement of trades in the Depository Interests, which will be issued by Capita IRG Trustees Limited, will be possible through CREST and the Depository Interests may be held and transferred within CREST. More details are set out below in the operational bulletin which was made by Euroclear UK and Ireland on 09 April 2008, the contents of which are as follows: "Sappi Limited (the `Company`) With effect from 23 April 2008, CREST members will be able to hold and transfer interests in Sappi Limited ordinary shares of one Rand each (the `Shares`) (ISIN number ZAE000006284) within the CREST system, pursuant to a depository interest arrangement established by the Company, which is incorporated in South Africa. The Shares will not themselves be admitted to the CREST system; rather the Company has arranged for Capita IRG Trustees Limited (`Capita`) to issue depository interests in respect of the underlying Shares (the `Depository Interests`). These Depository Interests may be held and transferred within the CREST system. The Depository Interests will be created and issued pursuant to a Deed Poll executed by Capita under English law, copies of which are available from Capita, and the provisions of the Deed Poll are expressed to bind all holders future and present. In the CREST system, the Depository Interests will carry the same ISIN as the Shares. It will of course remain open to members, should they wish to do so, to continue to hold Shares in the Company as they do now and make use of the residual settlement mechanism. If CREST members wish to avail themselves of this facility, they can do so by inputting a stock deposit in the usual way. The Company has informed Euroclear UK and Ireland that (1) a CREST transfer form or dematerialisation form lodged as a stock deposit will be deemed to constitute a transfer of the Shares to Capita, who will issue corresponding Depository Interests in the CREST system to the depositing member/transferee; and (2) in a similar way, a stock withdrawal will be deemed to constitute an instruction to Capita to cancel the Depository Interests and effect a transfer of the Shares to the person specified in the instruction. Transfers of the Depository Interests will not be subject to SDRT. This is because the Depository Interests meet all the criteria set out for the SDRT exemption granted in Statutory Instrument 1999 No 2383 (as amended) (The Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) Regulations 1999). Any enquiries concerning the contents of this bulletin should be addressed to the Client Contact Centre on +44 (0)845 9645 648. Calls to Euroclear UK and Ireland may be monitored and recorded for security purposes. Calls from the United Kingdom will be charged at local rates. Call charges from mobile phones may vary depending upon provider." For further information: Denis O`Connor Group Secretary Sappi Limited e-Mail Denis.O`Connor@sappi.com Tel +27 (0)11 407 8072 gdocpressrelease Date: 11/04/2008 12:24:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
