SAPPI'S R2 BILLION GLOBAL SHARE OFFERING UPSIZED

SAPPI LIMITED ANNOUNCED TODAY THAT IT HAD SUCCESSFULLY COMPLETED ITS

INTERNATIONAL ROADSHOW FOR THE GLOBAL OFFERING OF SAPPI PRIMARY AND SECONDARY
SHARES. THE ORDER BOOK WAS SUBSTANTIALLY OVERSUBSCRIBED.

40 MILLION SAPPI SHARES WERE PLACED (14.5 MILLION PRIMARY AND 25.5 MILLION
SECONDARY SHARES) BY THE UNDERWRITERS, CONSISTING OF A SYNDICATE OF

INTERNATIONAL BANKS LED BY MORGAN STANLEY DEAN WITTER. THE UNDERWRITERS ALSO
HAVE THE OPTION OF SELLING AN ADDITIONAL 6 MILLION SHARES ("THE GREENSHOE").
THIS REPRESENTS AN INCREASE IN THE SIZE OF THE OFFERING ENVISAGED IN THE
PRELIMINARY PROSPECTUS.

THE SHARES ARE BEING OFFERED TO THE PUBLIC AT A PRICE OF R51.20 PER SHARE
(USD8.34 PER ADR). SAPPI AND BUHRMANN NV, THE SAPPI SHAREHOLDER PARTICIPATING
IN THIS OFFERING, HAVE AGREED THAT BUHRMANN NV WILL INCREASE ITS PROPORTION OF
THIS OFFERING. BUHRMANN NV WILL SELL 25.5 MILLION SHARES FOR APPROXIMATELY
USD210 MILLION. IT WILL ALSO PROVIDE ANY SHARES REQUIRED FOR THE "GREENSHOE".
FOLLOWING THIS OFFERING BUHRMANN NV'S HOLDING OF SAPPI SHARES WILL DECREASE
FROM 20.0% TO 8.0% OF THE TOTAL NUMBER IN ISSUE (5.5% IF THE "GREENSHOE" IS
EXERCISED IN FULL).

SAPPI WILL ISSUE 14.5 MILLION NEW SHARES FOR APPROXIMATELY USD120MILLION AND
WILL USE THE NET PROCEEDS TO ACQUIRE THE MINORITIES IN LEYKAM MRZTALER IN
AUSTRIA AND USUTU PULP COMPANY IN SWAZILAND UPON COMPLETION OF THESE
TRANSACTIONS.

FOLLOWING THE OFFERING, THERE WILL BE A TOTAL OF APPROXIMATELY 239 MILLION
SAPPI SHARES IN ISSUE.

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL SECURITIES IN THE
UNITED STATES. THESE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES
UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1993, AS AMENDED (THE "SECURITIES
ACT") OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENT SO THE
SECURITIES ACT. SAPPI HAS FILED A REGISTRATION STATEMENT WITH THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION REGARDING THE OFFERING. ANY PUBLIC OFFERING
OF THESE SECURITIES IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS.
THE PROSPECTUS IS AVAILABLE FROM SAPPI LIMITED AT 48 AMESHOFF STREET,

BRAAMFONTEIN, JOHANNESBURG 2001, REPUBLIC OF SOUTH AFRICA. THE PROSPECTUS
CONTAINS DETAILED INFORMATION ABOUT SAPPI LIMITED, ITS MANAGEMENT TEAM AND ITS
FINANCIAL STATEMENTS.