SAPPI LIMITED - SAPPI RELEASES ITS 2004 BEFORE 20 DECEMBER 2004

SAPPI LIMITED - SAPPI RELEASES ITS 2004 BEFORE 20 DECEMBER 2004                 
SAPPI LIMITED                                                                   
SHARE CODE: SAP                                                                 
ISIN:     ZAE000006284                                                          
Sappi releases its 2004 Annual Report                                           
Sappi today confirmed that it will be posting its Annual Report for the year    
ended September 2004 to shareholders on Tuesday 21 December 2004 and this report
will also be available on the Sappi website www.sappi.com.  Sappi is not        
publishing an abridged report as the information in the annual report is        
unchanged from that which was published previously in the preliminary report    
which was issued on 08 November 2004.                                           
The annual report, which is themed `Life with Print" celebrates the importance  
and efficiency of print as a communications medium. Last year, Sappi launched   
its widely acclaimed Life with Print initiative in North America, Europe and in 
South Africa. The campaign provides empirical evidence for the unmatched impact,
penetration and cost-effectiveness of print.                                    
Commenting in the Annual Report, Eugene van As, Sappi"s chairman stated, "The   
past year proved to be a particularly challenging one for the global pulp and   
paper industry. In this environment, Sappi displayed resilience stemming from   
our well-balanced spread of products, markets and currencies. We have a focused 
strategy and a talented and committed executive team, with the energy and drive 
to realise our strategic ambitions."                                            
Jonathan Leslie, Sappi"s Chief Executive Officer, commented on the outlook for  
the group, "We are positive about market prospects for the year ahead.  Coated  
fine paper utilisation is very high in North America and climbing in Europe.    
Demand for our products is strong, advertising spend is rising in our major     
markets and prices for coated paper are showing upward momentum."               
"When we announced our fourth quarter results for 2004 in November, we cautioned
shareholders that a number of factors would depress earnings in our first       
financial quarter of 2005. However, while the strength of the Rand against the  
Dollar continues to place pressure on price realisation in South Africa, we are 
hopeful of seeing upward momentum in prices in Europe and particularly the      
United States, which, together with the strong action we are taking to offset   
rising costs with vigorous planned cost savings and profit improvement          
initiatives, should enable margins to begin to rise."                           
Sappi"s Annual General Meeting will be held at 11:00 on Monday, 07 March 2005 at
the offices of Sappi Limited, 48 Ameshoff Street, Braamfontein, Johannesburg.   
The notice of the Annual General Meeting is contained in the annual report.     
Sappi filed its Annual Report on Form 20F with the US Securities Exchange       
Commission (SEC) on 17 December 2004. This annual report is available on        
www.sappi.com.                                                                  
ends                                                                            
Issued by                                                                       
Adri Ackerman                                                                   
Brunswick SA                                                                    
Tel +27 (0) 11 268 5750                                                         
Fax +27 (0)11 268 5747                                                          
aackerman@brunswick.co.za                                                       
For further information                                                         
Richard Boorman                                                                 
Group Investor Relations Manager                                                
Sappi Limited                                                                   
Tel +27 (0) 11 407 8391                                                         
Fax +27 (0) 11 403 7903                                                         
richard.boorman@sappi.com                                                       
Date: 20/12/2004 04:07:49 PM Supplied by www.sharenet.co.za                     
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