Vesting of Conditional Share Awards Granted to Directors of Listed Company

News provided by

Number of Grants Awarded

Number of Grants Vested

Number of Grants Lapsed

Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant

Number of Shares to Participant

Value

(R)

6,500

7,800

14,300

3,250

3,900

7,150

3,250

3,900

7,150

Nil

2,170 shares

3,250

1,730

4,980

118,397.50

63,023.90

181,421.40

Jun 03, 2011, 10:27 ET

JOHANNESBURG, June 3, 2011 /PRNewswire/ --

Sappi Limited
Reg No 1936/008963/06
(Incorporated in the Republic of South Africa)
ISIN code ZAE 000006284
("Sappi" or "the Company")

In terms of paragraph 3.63 of the Listings Requirements of the JSE Limited, we hereby provide the following information regarding the vesting of conditional share awards granted by Sappi (NYSE: SPP) (JSE: SAP) to the undermentioned directors of the Company and its major subsidiary companies. The necessary authority in terms of paragraph 3.66 was obtained and these were off-market transactions:

(Logo: http://photos.prnewswire.com/prnh/20090826/NE66332LOGO )

Nature of transaction	:	Vesting of grants of conditional share awards in terms of the Sappi Limited Performance Share Incentive Plan.
Date of transaction	:	2 June 2011 (date participants informed of vesting)


Number of conditional Share awards granted	:	Various, see table below
Date of Grants	:	31 May 2007 and 15 December 2008 (6 additional grants for every 5 existing grants at R20,27 to take cognizance of Sappi Limited rights offer). Applicable to 4 year performance period 1 October 2006 to 30 September 2010



Vesting period	:	4 years from date of grant

Percentage of grants vested	:	50%, see table below

Class of security	:	Ordinary shares
Extent of interest	:	Direct beneficial

Director's Name : S Blyth

Company of which he is a director : Sappi International


Number of Grants Awarded	Number of Grants Vested	Number of Grants Lapsed	Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant	Number of Shares to Participant	Value (R)
4,000 4,800 8,800	2,000 2,400 4,400	2,000 2,400 4,400	Nil 1,335 shares	2,000 1,065 3,065	72,860.00 38,797.05 111,657.95

Company Secretary Name : J B Boner

Company : Sappi Fine Paper Europe

Director's Name : H de Jongh

Company : Sappi Southern Africa

of which he is a director

Director's Name : L Di Amato

Company : Sappi International

of which he is a director


Number of Grants Awarded	Number of Grants Vested	Number of Grants Lapsed	Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant	Number of Shares to Participant	Value (R)
1,500 1,800 3,300	750 900 1,650	750 900 1,650	Nil 501 shares	750 399 1,149	27,322.50 14,535.57 41,858.07

Director's Name : T S Hawkes

Company : Sappi Southern Africa

of which he is a director

Director's Name : R D Hope

Company : Sappi Fine Paper North America, Sappi Southern Africa

of which he is a director

Director's Name : D M Mncube

Company : Sappi Southern Africa

of which he is a director

Director's Name : C M Mowatt

Company : Sappi Southern Africa

of which he is a director

Director's Name : L J Newman

Company : Sappi International

of which he is a director

Company Secretary Name : D J O'Connor

Company : Sappi Limited

Director's Name : J Passler

Company : Sappi International

of which he is a director


Number of Grants Awarded	Number of Grants Vested	Number of Grants Lapsed	Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant	Number of Shares to Participant	Value (R)
8,000 9,600 17,600	4,000 4,800 8,800	4,000 4,800 8,800	Nil 2,671 shares	4,000 2,129 6,129	145,720.00 77,559.47 223,279.47

Director's Name : G Pearce

Company : Sappi Fine Paper Europe

of which he is a director

Director's Name : R Peelman

Company : Sappi International

of which she is a director


Number of Grants Awarded	Number of Grants Vested	Number of Grants Lapsed	Payment for original Grants nil/ settlement of additional Grants at R20,27 per Grant	Number of Shares to Participant	Value (R)
3,000 3,600 6,600	1,500 1,800 3,300	1,500 1,800 3,300	Nil 1,002 shares	1,500 798 2,298	54,645.00 29,071.14 83,716.14

Director's Name : A Rossi

Company : Sappi Fine Paper North America, Sappi Southern Africa

of which he is a director

Director's Name : L Swartz

Company : Sappi Southern Africa, Sappi Fine Paper North America

of which she is a director

Director's Name : A Thiel

Company : Sappi Southern Africa

of which he is a director

Director's Name : G M Van Aarde

Company : Sappi Southern Africa

of which he is a director

Director's Name : A J W van der Merwe

Company : Sappi Southern Africa

of which he is a director

Director's Name : B Wiersum

Company : Sappi Fine Paper Europe

of which he is a director