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 OF LISTED COMPANIES                          
In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we  
hereby provide the following information regarding dealing in securities of     
Sappi by a director of the Company and by directors of a major subsidiary.  The 
dealing which is in terms of the Sappi Limited Share Incentive Scheme, and for  
which clearance was received in terms of Listings Requirement 3.66, is as       
follows:                                                                        
Director"s Name               :    B M Dick                                     
Company                       :    Sappi Forest Products                        
Date of transaction           :    27 November 2006                             
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         :    36 000                                       
                         Offer Date                   Offer     Selling         
                                                      Price     Price           
Date rights granted 1.   3000 on 19 January 1998      R19,90    R114,01         
and prices          2.   200 on 19 January 1998       R19,90    R114,02         
                    3.   6300 on 11 December 1998     R22,10    R114,00         
                    4.   500 on 11 December 1998      R22,10    R114,02         
5.   400 on 11 December 1998      R22,10    R114,26         

                    6.   1301 on 22 December 1999     R53,85    R114,26         
                    7.   10699 on 22 December 1999    R53,85    R114,25         
                    8.   6400 on 15 January 2001      R49,00    R114,25         
9.   4000 on 30 December 2003     R79,25    R114,25         

                    10.  3200 on 13 December 2004     R78,00    R114,25         
Vesting period                :    Over 5 years                                 
Class of security             :    Ordinary shares                              
Extent of interest            :    Direct beneficial                            
28 November 2006                                                                
Date: 28/11/2006 05:01:04 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department