Sappi Limited - Dividend exchange rate

Sappi Limited - Dividend exchange rate                                          
Sappi Limited                                                                   
(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 10 November 2005, we set out     
below the exchange rates to be applied for payment of the dividend:             
US$1 - R6,36517     (ie dividend R1,9096     per share)                         
US$1 - GBP0,56760      (ie dividend of GBP0,1703    per share).                 
The relevant dates pertaining to the dividend are as follows:                   
Last day to trade to qualify for dividend - Thursday, 29 December 2005.         
Date on which shares commence trading ex-dividend - Friday, 30 December 2005.   
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 - 12h00 (South African time), Tuesday 3  
January 2006.  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.                                                          
Record date - Friday, 6 January 2006.                                           
Payment date - Monday, 9 January 2006.                                          
There will not be any de-materialisation nor re-materialisation of Sappi share  
certificates from Friday, 30 December 2005 to Friday, 6 January 2006, both days 
inclusive.                                                                      
Johannesburg                                                                    
20 December 2005                                                                
Sappi Management Services (Pty) Limited                                         
Secretaries : per D J O"Connor                                                  
48 Ameshoff Street                                                              
Braamfontein, Johannesburg, 2001                                                
Date: 20/12/2005 02:04:07 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department