Director's Name

:

R J Boettger

Nature of transaction

:

Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Plan.

Date of transaction

:

11 August 2011 (date participant informed of vesting)

Number of conditional

Share awards originally

Granted

:

220,000

Date of Grants

:

02 July 2007 (100,000 for nil consideration) and 15 December 2008 (120,000, ie 6 additional grants for every 5 existing grants at R20,27 each -total R2,432,400- to take cognizance of Sappi Limited rights offer).  Applicable to 4 year performance period 01 October 2006 to 30 September 2010

Vesting period

:

4 years from date of original grant

Percentage of grants vested

:

50%

Number of grants vested

:

110,000

Total Value

:

R2,772,000.00

Number of grants lapsed

:

110,000

Total Value

:

R2,772,000.00

Payment for vested grants

:

Surrender of 48,262 grants

Total Value

:

R1,216,200.00

Number of shares to director

:

61,738

Total Value

:

R1,555,797.60

Class of security

:

Ordinary shares

Extent of interest

:

Direct beneficial

2. 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.  The dealing was an on-market transaction and clearance for the dealing was received in terms of Listings Requirement 3.66, as follows:

Director's Name

:

R J Boettger

Company

:

Sappi Limited

Date of transaction

:

11 August 2011

Nature of transaction

:

Sale of shares to defray taxation payable on 61,738 shares referred to in (1) above

Total Value

:

R624,440

Number of Shares sold

:

24,700

Selling price per share

:

R25,20

Class of security

:

Ordinary shares

Extent of interest

:

Direct beneficial