SIMS LIMITED — Director's Dealing 2008

Dec 14, 2008

Appendix 3Y Change of Director’s Interest Notice

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	JEREMY LEIGH SUTCLIFFE
Date of last notice	26 November 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	Direct and indirect interest.
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	The Sutcliffe Family Trust, an associate ofthe Director, is the holder of 52,255 ordinaryshares (subject to a contract entered into on26 February 2008 described as follows:Purchase of over the counter put options witha strike price of $29.25 and a maturity date of4 March 2009, and sale of over the countercall options with a strike price of $34.92 anda maturity date of 4 March 2009).
Date of change	8 December 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	The Sutcliffe Family Trust - 52,255 ordinaryshares (subject to the contract describedabove).Jeremy Sutcliffe - 8,594 ordinary shares.Jeremy Sutcliffe-71,947 performance rightsissued pursuant to individual contract.Jeremy Sutcliffe -165,940 performance rightsissued 10 October 2007 pursuant to the SimsMetal Management Long Term IncentivePlan (“SimsMM Plan”).Jeremy Sutcliffe - 44,440 performance rightsissued 24 November 2008 pursuant to theSimsMM Plan.Jeremy Sutcliffe-135,435 options issued 24November 2008 pursuant to the SimsMMPlan.
Class	Ordinary shares.
Number acquired	23,983.
Number disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Nil
No. of securities held after change	The Sutcliffe Family Trust-52,255 ordinaryshares (subject to the contract describedabove).Jeremy Sutcliffe -32,577 ordinary shares.Jeremy Sutcliffe - 47,964 performance rightsissued pursuant to individual contract.Jeremy Sutcliffe-165,940 performance rightsissued 10 October 2007 pursuant to theSimsMM Plan.Jeremy Sutcliffe- 44,440 performance rightsissued 24 November 2008 pursuant to theSimsMM Plan.Jeremy Sutcliffe- 135,435 options issued 24November 2008 pursuant to the SimsMMPlan.
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Exercise of performance rights and issue ofordinary shares.

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.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Detail of contractN/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
		Detail of contract	N/A
		Nature of interest
		Name of registered holder(if issued securities)
		Date of change
		No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
		Interest acquired
		Interest disposed
		Value/Consideration
	Note: If consideration is non-cash, provide details andan estimated valuationInterest after change	Note: If consideration is non-cash, provide details andan estimated valuation
		Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002