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Karen R. Osar Joins Sappi Limited Board


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2007-04-30 16:22:22 -

JOHANNESBURG, South Africa, April 30 /PRNewswire-FirstCall/ -- Sappi Limited (NYSE, JSE, LSE), the global pulp and paper group, today announced that Ms. Karen R. Osar will join the Sappi Limited Board with effect from 01 May 2007 as a non-executive director.

Ms. Osar (57), executive vice president and chief financial officer (CFO) of speciality chemicals company Chemtura Corporation until her retirement at the end of March 2007, has held various senior management and board positions in her career. Ms. Osar was vice president and treasurer for Tenneco Inc and

has also served as CFO of Westvaco Corporation and as senior vice president and CFO of the merged MeadWestvaco Corporation. Prior to these appointments she spent 19 years at JPMorgan & Company becoming a managing director of the Investment Banking Group. She currently serves on the boards of Webster Financial Corporation and the Bank of New York Hamilton Mutual Funds and has chaired numerous board audit committees. She holds an MBA, Finance, from Columbia University in New York.

NOTE TO EDITORS: Additional information on Ms. Karen R. Osar: She holds a BA, Latin American Studies from Smith College, Northampton, MA as well as an MBA, Finance from Columbia University, New York, NY 1975-1994 JPMorgan & Company: latterly as managing director, Investment Banking Group 1994-1999 Tenneco, Inc: vice president and treasurer 1999-2003 MeadWestvaco Corporation and Westvaco Corporation: senior vice president and chief financial officer 2004-2007 Chemtura Corporation: executive vice president and chief financial officer 1998-present Director of Bank of New York Hamilton Mutual Funds; Chair of audit committee 1999-2006 1998-2005 Director of Allergan, Inc; Chair of audit and finance committee 1999-2005 2003-2006 Director of Encore Medical Corporation; Chair of audit committee 2003-2006 2006-present Director of Webster Financial Corporation About Sappi Limited

A global leader in the pulp and paper industry, Sappi Limited (NYSE, JSE, LSE), headquartered in Johannesburg, South Africa, conducts its business through two business units, Sappi Fine Paper and Sappi Forest Products. Sappi Fine Paper, operating in Europe, North America and South Africa, produces a wide range of coated fine paper brands with an international reputation for quality and innovation. The company also produces a range of uncoated graphic and business papers, coated and uncoated specialty papers, as well as casting release papers. Sappi Forest Products owns or manages approximately 540,000 hectares of plantations through Sappi Forests; is a leading Southern African fully integrated pulp, packaging paper and newsprint business through Sappi Kraft; and is the world's leading producer of chemical cellulose used in the manufacture of viscose fibre through Sappi Saiccor; Sappi Trading, based in Hong Kong, operates a trading network for the international sales and distribution of the products of the two divisions outside their core operation regions. Sappi has manufacturing operations in nine countries on four continents, sales offices in some 50 countries and customers in over 100 countries around the world.

Source: Sappi Limited

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