SIMS LIMITED — Director's Dealing 2007

Apr 4, 2007

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

	Name of entity Sims Group Limited (the "Company")
ABN 69 114 838 630

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John L Neu
Date of last notice	21 April 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.
Date of change
No. of securities held prior to change
Class
Number acquired
Number disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation
No. of securities held after change

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Share sale agreement ("Agreement") dated 30 March2007 between Hugo Neu Corporation ("HNC"),
	Votraint No. 1652 Pty Limited ("Votraint") and Mitsui& Co., Ltd. ("Mitsui") as annexed to Form 603, noticeof intitial substantial holder given by Votraint to theASX on 3 April 2007.
Nature of interest	Under the Agreement HNC has agreedsellto25,079,792 ordinary shares in the Company (subject tocertain adjustments under the Agreement if the totalnumber of issued shares in the Company changes) toVotraint subject to the satisfaction or waiver of certainconditions. Votraint's obligations under the Agreementare guaranteed by Mitsui. John Neu is a director ofHNC and a voting trustee of certain trusts which controlHNC.
Name of registered holder(if issued securities)	HNC
Date of change	Not applicable - no change as yet.
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Not applicable - no change as yet.
Interest acquired	Not applicable.
Interest disposed	HNC has agreed to sell 25,079,792 ordinary shares inthe Company (subject to certain adjustments under theAgreement if the total number of issued shares in theCompanychanges) to Votraint, subject tothe.satisfaction or waiver of certain conditions.
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	$24.00 per share (subject to certain adjustments underthe Agreement including for the issue of new ordinaryshares in the Company to HNC (other than under theDividend Reinvestment Plan) or for any splitting orconsolidation of the ordinary shares in the Company).
Interest after change	Not applicable - no change as yet.

$+$ See chapter 19 for defined terms.