Sappi - Dealing in securities by directors

Sappi - Dealing in securities by directors                                      
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                                              
In terms of paragraph 3.63 of the Listings Requirements of the JSE Securities   
Exchange South Africa, we hereby provide the following information regarding    
dealing in securities of Sappi by a director of the Company. Clearance was      
received in terms of section 3.66 of the JSE Listings Requirement:              
Director"s Name          :    Eugene van As                                     
Company                  :    Sappi Limited                                     
Date of transaction      :    26 November 2004                                  
Nature of transaction    :    Payment for shares in terms of obligations under  
the Sappi Limited Share Incentive Scheme          

Number of shares acquired:    1)   24 813                                       
                              2)   40 000                                       
                              3)   30 000                                       
4)   100 000                                      

                              5)   60 000                                       
Dates rights granted     :    1)   25 November 1995 : R56,75                    
and prices               :    2)   24 February 1997 : R34,90                    
3)   18 January 1998 : R19,90                     

                              4)   27 May 1998 : R27,90                         
                              5)   11 December 1998 : R22,10                    
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial - except for 1) : indirect      
                              beneficial                                        
Director"s Name          :    Eugene van As                                     
Company                  :    Sappi Limited                                     
Date of transaction      :    26 November 2004                                  
Nature of transaction    :    Transfer of shares to fund in which Eugene van    
As has indirect beneficial ownership with no                                    
                              change in economic benefit.                       
Number of shares                                                                
transferred              :    246 959                                           
Price                    :    n/a                                               
Class of security        :    Ordinary shares                                   
Extent of interest       :    Direct beneficial to indirect beneficial          
                              (except for 24 813 shares which remain            
                               indirect beneficial)                             
Date: 29/11/2004 01:45:39 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department