SAPPI LIMITED - DEALING IN SECURITIES BY DIRECTORS

SAPPI LIMITED - DEALING IN SECURITIES BY DIRECTORS                              
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                                              
In terms of paragraph 3.63 of the Listing Requirements of the JSE Securities    
Exchange South Africa, 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 3.66, is as follows :                                               
Director"s Name               :    Jan Harm Labuschagne                         
Company (Subsidiary)          :    Sappi Forest Products (Pty) Limited          
Date of transaction           :    15 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)   1 200                                   
exercised/shares sold         :    2)   2 000                                   
                              :    3)   1 000                                   
Dates rights granted          :    1)   11 December 1998 : R22,10               
and prices                    :    2)   22 December 1999 : R53,85               
                              :    3)   15 January 2001  : R49,00               
Vesting period                :    Over 5 years                                 
Selling price                 :    R91,80                                       
Class of security             :    Ordinary shares                              
Extent of interest            :    Direct beneficial                            
Date: 16/09/2004 03:44:55 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department