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Sappi Appoints Kathleen Walters as CEO of its US Operations

Press release from the issuing company

JOHANNESBURG, South Africa--Jan. 7, 2002--Sappi announced that Kathleen Walters, currently President of Kimberly-Clark's European Industrial business, has been appointed President and Chief Executive Officer of Sappi Fine Paper North America. Commenting on her appointment Bill Sheffield, CEO of Sappi Fine Paper said: "A proven business leader, Kathleen Walters has all the critical skills for the job. She has a strong and relevant international track record in the global paper industry, most recently with Kimberly-Clark and formerly with its predecessor Scott Paper. This, combined with her experience in a branded product segment, her proven team building skills and her considerable drive and energy, will deliver significant strategic and operational value to Sappi's North American business''. Ms Walters, an American, is currently based in London. She has a Bachelor of Science in Mathematics from Syracuse University and an MBA from the Wharton School, University of Pennsylvania. She will succeed Monte Haymon who has agreed to stay on during 2002 as Non Executive Chairman of Sappi Fine Paper North America to effect a smooth transition in the business. Eugene van As, Executive Chairman of Sappi Limited said, "Monte Haymon made an outstanding contribution to Sappi in North America making it one of the most profitable paper companies in the USA, and I am extremely pleased to have found someone of the calibre of Kathy Walters to further build the business in the years ahead''. Ms Walters joins Sappi in February 2002. Sappi is the world's leading producer of coated woodfree paper with production facilities in eight countries on three continents (Europe, North America and Africa), sales offices on five and customers in over 100 countries worldwide.