Sappi Limited - Dealing In Securities By Directors Of Listed Companies

Sappi Limited - Dealing In Securities By Directors Of Listed Companies          
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 OF LISTED COMPANIES                          
In terms of paragraph 3.63 of the Listing Requirements of the JSE Securities    
Exchange, 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   
3.74, is as follows :                                                           
Director"s Name          :    V A R Lubbe                                       
Company (Subsidiary)     :    Sappi Forest Products/Sappi Fine Paper            
Date of transaction      :    16 March 2005                                     
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                                                                
exercised/shares sold    :    8 000                                             
Dates rights granted                                                            
and prices               :    1. 4 000 on 11 December 1998  : R22,10            
2. 4 000 on 15 January 2001   : R49,00            

Vesting period           :    Over 5 years                                      
Selling price            :    R81,20                                            
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial                                 
Johannesburg                                                                    
17 March 2005                                                                   
Date: 17/03/2005 03:47:57 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department