SIMS LIMITED — Capital/Financing Update 2007

May 1, 2007

ASX & MEDIA RELEASE

(ASX CODE: SGM)

2 May, 2007

SIMS COMPLETES ACQUISITION OF E-RECYCLING ASSETS OF NORANDA

Sims Group confirmed today that it has completed the previously announced acquisition of the end of life recycling assets of Noranda Recycling Inc. The acquisition will see Sims Recycling Solutions, the world's leading recycler of electronic goods, acquiring Noranda's California, Tennessee, and Canadian based e-recycling operations.

The acquisition positions Sims as North America's largest electronic recycler. Steve Skurnac, formally of Noranda, has been appointed President, Sims Recycling Solutions - North America. He will report to Graham Davy, Managing Director of Sims Recycling Solutions - Global Operations.

Sims Group's core business is metal recycling, with an emerging business in recycling solutions. Headquartered in Australia, Sims earns over 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$5.0 billion and is listed on the Australian Stock Exchange (ASX CODE: SGM)

For further information contact:

Jeremy Sutcliffe Group Chief Executive Sims Group Limited 41 McLaren Street NORTH SYDNEY NSW 2060

ABN 69 114 838 630 Phone: (02) 9956 9180