SAPPI LIMITED - GRANTING OF OPTIONS TO DIRECTORS OF LISTED COMPANY

SAPPI LIMITED - GRANTING OF OPTIONS TO DIRECTORS OF LISTED COMPANY              
Sappi Limited                                                                   
(Registration number 1936/008963/06)                                            
(Incorporated in the Republic of South Africa)                                  
Share code: SAP     ISIN: ZAE000006284)                                         
("Sappi" or the "Company")                                                      
In terms of paragraph 3.63 to 3.74 of the Listings Requirements of the JSE      
Securities Exchange, we hereby provide the following information regarding the  
granting of options by Sappi to the undermentioned directors of the Company and 
its major subsidiary companies:                                                 
Date of transaction           :    13 December 2004                             
Nature of transaction         :    Grants of Share Options in terms of          
                                   the Sappi Limited Share Incentive Scheme     
Strike price                  :    R78,00 per share option                      
Vesting dates for                                                               
exercise of share options     :    25% of the share options on 13 December 2005 
                                   25% of the share options on 13 December 2006 
                                   25% of the share options on 13 December 2007 
                                   25% of the share options on 13 December 2008 
Any options not exercised by 13 December 2012

                                   will lapse.                                  
Class of security             :    Ordinary shares                              
Extent of interest            :    Direct beneficial                            
The necessary authority in terms of 3.66 was obtained.                          
DIRECTOR"S NAME      COMPANY                            NUMBER                  
                                                        OF                      
                                                        OPTIONS                 
K   BURCHARDI        Sappi International                8,000                   
J   BONER            Sappi Fine Paper Europe (Co        5,000                   
                     Secretary)                                                 
BM  DICK             Sappi Forest Products              13,000                  
H   GEBREITER        Sappi Fine Paper Europe            14,500                  
RD  HOPE             Sappi Fine Paper North America     18,000                  
JL  JOB              Sappi Limited                      20,000                  
JH  LABUSCHAGNE      Sappi Forest Products              13,000                  
JC  LESLIE           Sappi Limited                      60,000                  
A                                                                               
VA  LUBBE            Sappi Fine Paper Europe, Sappi     14,000                  
R                    Fine Paper North America, Sappi                            
Forest Products                                            

SG  MANCHESTER       Sappi Fine Paper North America     12,000                  
                     (Co Secretary)                                             
J   MILLER           Sappi Fine Paper North America     12,000                  
DM  MNCUBE           Sappi Forest Products              13,000                  
H   MOLLENHAUER      Sappi Fine Paper North America     6,000                   
L   NEWMAN           Sappi International                5,000                   
DJ  O"CONNOR         Sappi Limited (Co Secretary)       4,000                   
J   PASSLER          Sappi International                5,000                   
W   PFARL            Sappi Fine Paper Europe            30,000                  
A   ROSSI            Sappi Forest Products              14,000                  
M   SPALLART         Sappi Forest Products              13,000                  
MR  THOMPSON         Sappi Papier Holding               18,000                  
R   THUMMER          Sappi Fine Paper Europe            14,500                  
AD  TUBB             Sappi Forest Products              13,000                  
M   TURNER           Sappi Fine Paper Europe, Sappi     12,000                  
Fine Paper North America                                   

AJ  VAN DER MERWE    Sappi Forest Products              10,000                  
W                                                                               
AP  WAGENAAR         Sappi Forest Products              30,000                  
DG  WILSON           Sappi Limited                      30,000                  
Johannesburg                                                                    
15 December 2004                                                                
Date: 17/12/2004 08:00:04 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department