Sappi Closes a New Euro600 Million Multi-currency Revolving Credit Facility

Sappi Closes a New Euro600 Million Multi-currency Revolving Credit Facility     
Sappi Limited                                                                   
(Registration number 1936/008963/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SAP & ISIN: ZAE000006284                                            
("Sappi" or the "Company")                                                      
Press Release                                                                   
Johannesburg, 5 July 2005                                                       
Sappi Closes a New Euro600 Million Multi-currency Revolving Credit Facility     
Sappi Limited is pleased to announce the successful completion of its new EUR   
600,000,000 Multi-currency Revolving Credit Facility (the "Facility").  The     
purpose of the Facility is to refinance an existing revolving facility as well  
as for general corporate purposes. The Facility was significantly over-         
subscribed.                                                                     
Commenting on the new Facility Don Wilson, Executive Director - Finance, Sappi  
Limited, said "The successful completion of the new Facility confirms the       
market"s long-term belief in and support of our industry. Sappi has once again  
demonstrated its ability to access debt markets on competitive terms; the       
margins we have negotiated are more favourable than our existing facility. We   
now have in place a well-structured suite of financing with an excellent        
maturity profile, with our average term of debt now exceeding 8 years. "        
BNP Paribas, J P Morgan plc and SG Corporate & Investment Banking acted as      
Mandated Lead Arrangers and Book runners.                                       
ENDS                                                                            
Issued by:                                                                      
Brunswick South Africa Limited                                                  
on behalf of Sappi Limited                                                      
Roderick Cameron/Nonhlanhla Kumalo                                              
Tel +27 (0)11 268 5750                                                          
For further information:                                                        
Don Wilson                                                                      
Executive Director - Finance                                                    
Sappi Limited                                                                   
Tel +27 (0)11 407 8041                                                          
Don.Wilson@sappi.com                                                            
Date: 05/07/2005 02:56:41 PM Supplied by www.sharenet.co.za                     
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