Sappi Limited - Dealing in securities

Sappi Limited - Dealing in securities                                           
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                                                           
In terms of paragraph 3.63 of the Listing Requirements of the JSE Securities    
Exchange, we hereby provide the following information regarding dealing in      
securities of Sappi by a director 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 3.66, is as   
follows :                                                                       
Director"s Name          :    Kaj Peter Burchardi                               
Company (Subsidiary)     :    Sappi International SA                            
Date of transaction      :    6 September 2004                                  
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         :    1)   2 500                                        
exercised/shares sold    :    2)   2 400                                        
                         :    3)     584                                        
Dates rights granted     :    1)   24 February 1997 : R34,90                    
and prices               :    2)   19 January 1998  : R19,90                    
                         :    3)   11 December 1998 : R22,10                    
Vesting period           :    Over 5 years                                      
Selling price            :    R93,00                                            
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial                                 
7 September 2004                                                                
Date: 07/09/2004 02:45:02 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department