SIMS LIMITED — Capital/Financing Update 2007

Dec 5, 2007

6 DECEMBER 2007

==> picture [74 x 38] intentionally omitted <==

==> picture [74 x 37] intentionally omitted <==

==> picture [163 x 36] intentionally omitted <==

ASX & MEDIA RELEASE

(ASX CODE: SGM)

SIMS GROUP ANNOUNCES THE EXPANSION OF SIMS RECYCLING SOLUTIONS INTO INDIA, EXTENDING GLOBAL COVERAGE TO THE ASIA PACIFIC REGION

Consistent with Sims Group’s strategy to grow its Recycling Solutions division in the Asia Pacific Region, the Company was pleased to announce the acquisition, in India, of Trishyiraya Recycling India Pvt Ltd (Trishyiraya).

Trishyiraya is a small established recycler of electrical and electronic equipment located in the southern Indian city of Chennai - a major industrial hub in India and in close proximity to other major IT centres. Trishyiraya is currently located in a Special Economic Zone in Chennai and was a pioneer in establishing an electronic recycling facility in India.

Graham Davy, Global CEO for Sims Recycling Solutions (SRS) commented “we are extremely pleased to welcome Trishyiraya into our business. Trishyiraya’s infrastructure in India offers SRS an excellent platform for further growth in an important market. Growing awareness and development of WEEE legislation in India offers opportunities from both B2B and End-of-Life sectors.

The addition of Trishyiraya enables us to immediately enhance our service offering to our international client base. We also look forward to presenting Trishyiraya’s existing domestic clientele our full service menu and the benefit of our technical and process capabilities”.

The management team will include Kumar Radhakrishnan, who has overall responsibility for SRS Asian Pacific operations, and Subash Warrier, responsible for commercial affairs.

Sims Group’s core business is metal recycling, with an emerging business in recycling solutions. Headquartered in Australia, Sims earns around 70 per cent of its revenue from international operations in the United Kingdom, Continental Europe, North America, New Zealand and Asia. Sims has over 3,500 employees, annual turnover of A$5.5 billion and is listed on the Australian Stock Exchange (ASX CODE: SGM)

For further information contact :

Jeremy Sutcliffe Group Chief Executive

or

Stuart Nelson Director, Corporate Services

Sims Group Limited 41 McLaren Street NORTH SYDNEY NSW 2060

ABN 69 114 838 630

Phone: (02) 9956 9180