SIMS LIMITED — Director's Dealing 2008

Dec 30, 2008

Rule 3.19A.2

Appendix 3Y

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 METAL MANAGEMENT LIMITED 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 MICHAEL FEENEY
Date of last notice	1 October 2008

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	Indirect interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Shares acquired by Simsmetal ExecutiveStaff Superannuation Pty Limited ABN 95069 238 937 as trustee of the Sims MetalManagement Deferred Tax Director andEmployee Share Plan.
Date of change	31 December 2008
No. of securities held prior to change	1 ordinary share (direct); and25,503 ordinary shares (indirect) held byJohn Michael Feeney and Roslyn LoringFeeney, as trustees of the JM Feeney SuperFund, an associate of the Director; and393 ordinary shares (indirect) held bySimsmetal Executive Staff SuperannuationPty Limited ABN 95 069 238 937 as trusteeof the Sims Metal Management Deferred TaxDirector and Employee Share Plan.
Class	Ordinary
Number acquired	262

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number disposed	Nil
Value/Consideration	$4,572
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	1 ordinary share (direct); and
	25,503 ordinary shares (indirect) held by
	John Michael Feeney and Roslyn Loring
	Feeney, as trustees of the JM Feeney Super
	Fund, an associate of the Director; and
	655 ordinary shares (indirect) held by
	Simsmetal Executive Staff Superannuation
	Pty Limited ABN 95 069 238 937 as trustee
	of the Sims Metal Management Deferred Tax
	Director and Employee Share Plan.
Nature of change	Participation in Non-Executive Directors
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Share Plan (on-market trade).

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	Nil
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and
an estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002