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SAP - Sappi Limited - Issue Of Audited Annual Financial Statements SAPPI LIMITED (Incorporated in the Republic of South Africa) Registration number: 1936/008963/06 JSE share code: SAP ISIN code: ZAE000006284 ("SAPPI" or "the company") ISSUE OF AUDITED ANNUAL FINANCIAL STATEMENTS Further to the SAPPI reviewed preliminary results for the year ended 30 September 2007, which were published on 08 November 2007, shareholders are advised that the annual financial statements are expected to be dispatched to shareholders on 14 December 2007. The annual financial statements will also be available online on the SAPPI website (www.sappi.com) from the date of dispatch. Sappi intends to file its annual report on Form 20-F with the United States Securities and Exchange Commission on 14 December 2007. Once filed, this document will also be available on www.sappi.com The annual financial statements have been audited by SAPPI`s auditors, Deloitte & Touche. Their unqualified report is available for inspection at the company`s registered office. Shareholders` attention is drawn to a re-classification to the reviewed preliminary results. This re-classification is summarised below. RE-CLASSIFICATION OF REVIEWED PRELIMINARY RESULTS Sappi has re-classified an item in its previously reported consolidated cash flow statement for the years ended September 2007 and 2006. Contributions to post employment benefit funds, previously disclosed in cash utilised in investing activities have now been disclosed in cash retained from operating activities. Although the treatment of the amount paid for post employment benefits was specifically identified in the consolidated cash flow statement, management believes, in the absence of definitive IFRS guidance, the re- classification is a preferred presentation. In addition, it will make it easier for investors to compare our results with those of other companies who report using US generally accepted accounting practices. The table below sets out the impact of this re-classification. The re- classification has no impact on the group`s income statement, balance sheet or the change in cash and cash equivalents reported for the years ended September 2007 and 2006. CONSOLIDATED CASH FLOW STATEMENT US$ million Year end Year end September September 2007 2006
Cash retained from operating 489 228 activities (previously reported) Adjustment for reclassification (101) (68) of post employment benefits Revised cash retained from 388 160 operating activities
Cash utilised in investing (465) (355) activities (previously reported) Adjustment for reclassification 101 68 of post employment benefits Revised cash utilised in (364) (287) investing activities NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the annual general meeting of shareholders of SAPPI will be held at the registered office of the company in the Auditorium, ground floor, 48 Ameshoff Street, Braamfontein, Johannesburg on Monday 03 March 2008 at 14:30 to transact businesses as stated in the notice of the annual general meeting forming part of the annual financial statements. Braamfontein 14 December 2007 Sponsor to SAPPI: UBS South Africa (Pty) Ltd Auditors and reporting accountants to SAPPI: Deloitte & Touche Date: 14/12/2007 14:39:54 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
