SAP - Sappi Limited - Dividend exchange rate

SAP - Sappi Limited - Dividend exchange rate                                    
(Registration number 1936/008963/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SAP  ISIN: ZAE000006284)                                            
("Sappi" or the "Company")                                                      
Dividend exchange rate                                                          
With reference to the dividend announcement of 6 November 2008, we set out below
the exchange rates to be applied for payment of the dividend :                  
 -    US$1 - R10.19213 (i.e. dividend of R1.6307 per share)                     
-    GBP1 - US$1.48935 (i.e. dividend of GBP0.1074 per share).                  
The relevant dates pertaining to the dividend are as follows :                  
-    Last day to trade to qualify for dividend - Friday, 21 November 2008.      
-    Record date - Friday, 28 November 2008.                                    
-    Payment date - Tuesday, 2 December 2008.                                   
There will not be any de-materialisation nor re-materialisation of Sappi share  
certificates from Friday, 21 November 2008 to Friday, 28 November 2008, both    
days inclusive.                                                                 
Date on which shares commence trading ex-dividend - Monday, 24 November 2008.   
Deadline for South African nominee companies to submit details of the number of 
shares held on behalf of South African resident and non-resident beneficial     
shareholders so that dividend payments in South African Rands and United States 
Dollars respectively may be calculated - 16h00 (South African time), Thursday 27
November 2008.  Dividends payable from the Johannesburg transfer office will be 
paid in South African Rands except that dividends paid to nominee shareholders  
in respect of shares which they hold on behalf of non-residents of the Republic 
of South Africa will be paid in United States Dollars.  (Note that there is no  
currency election).                                                             
Dividends payable from the London transfer office will be paid in British pounds
sterling or in the case of shareholders with registered addresses in the USA, in
United States Dollars.                                                          
Johannesburg                                                                    
14 November 2008                                                                
Sappi Management Services (Pty) Limited                                         
Secretaries : per D J O`Connor                                                  
48 Ameshoff Street                                                              
Braamfontein, Johannesburg, 2001                                                
Sponsor: UBS South Africa (Pty) Ltd                                             
Date: 14/11/2008 10:56:01 Supplied by www.sharenet.co.za                     
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