SAPPI DELISTS FROM PARIS BOURSE

PRESS RELEASE
23 FEBRUARY 2000

GLOBAL PULP AND PAPER GROUP SAPPI SAID TODAY THAT IT HAS DECIDED TO DELIST ITS
SHARES FROM THE PARIS BOURSE, WHERE ONLY 35 000 OF ITS 239 MILLION ISSUED
SHARES ARE HELD.

A SAPPI SPOKESMAN SAID THAT SINCE THE INITIAL LISTING IN 1992, THE TRANSACTION
VOLUME IN PARIS HAD REMAINED EXTREMELY LOW AND FORMED AN INSIGNIFICANTLY SMALL
PART OF THE PERCENTAGE OF SAPPI SHARES TRADED. THE LOW VOLUME TRADED, THE COST
OF MAINTAINING THE LISTING AND THE ADDITIONAL REPORTING STANDARDS REQUIRED DID
NOT JUSTIFY A CONTINUATION OF THE LISTING.

SHAREHOLDERS WHO HOLD SHARES IN PARIS CAN RETAIN THEIR SHARES OR SELL THEM
THROUGH A VOLUNTARY OFFER ON THE JOHANNESBURG STOCK EXCHANGE WITHOUT PAYING
BROKERAGE EXPENSES. THE DELISTING OF THE SHARE WILL BECOME EFFECTIVE ON MARCH
29, 2000. SAPPI, WHOSE PRIMARY LISTING IS ON THE JSE, IS ALSO LISTED ON THE NEW
YORK, LONDON AND FRANKFURT STOCK EXCHANGES.

RELEASED ON BEHALF OF SAPPI BY WESTCOM. FOR FURTHER INFORMATION PLEASE CONTACT
JOHAN VAN WYK
CORPORATE AFFAIRS MANAGER
SAPPI LIMITED
TEL: +27 (0) 11 407 8044
FAX: +27 (0) 11 403 8236
JOHANVW@ZA.SAPPI.COM
OR
ROBERT HOPE
DIRECTOR STRATEGIC DEVELOPMENT
SAPPI LIMITED
TEL: +27 (0) 11 407 8492
FAX: +27 (0) 11 403 1493
ROBHO@ZA.SAPPI.COM