SIMS LIMITED — Director's Dealing 2008

Nov 25, 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	12 September 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	The Sutcliffe Family Trust, an associate of
(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	the Director, is the holder of 52,255 ordinaryshares (subject to a contract entered into on
	26 February 2008 described as follows:
	Purchase of over the counter put options with
	a strike price of $29.25 and a maturity date of
	4 March 2009, and sale of over the counter
	call options with a strike price of $34.92 and
	a maturity date of 4 March 2009).
Date of change	24 November 2008
No. of securities held prior to change	The Sutcliffe Family Trust -52,255 ordinary
	shares (subject to the contract described
	above).
	Jeremy Sutcliffe-8,594 ordinary shares.
	Jeremy Sutcliffe-71,947 performance rights
	issued pursuant to individual contract.
	Jeremy Sutcliffe-165,940 performance rights
	issued 10 October 2007 pursuant to the Sims
	Metal Management Long Term Incentive
	Plan (“SimsMM Plan”).

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Class	Performance rights issued pursuant to the
	SimsMM Plan.
	Options issued pursuant to the SimsMM
	Plan.
Number acquired	44,440 performance rights.
	135,435 options.
Number disposed	N/A
Value/Consideration	Nil
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	The Sutcliffe Family Trust-52,255 ordinary
	shares (subject to the contract described
	above).
	Jeremy Sutcliffe - 8,594 ordinary shares.
	Jeremy Sutcliffe-71,947 performance rights
	issued pursuant to individual contract.
	Jeremy Sutcliffe-165,940 performance rights
	issued 10 October 2007 pursuant to the
	SimsMM Plan.
	Jeremy Sutcliffe-44,440 performance rights
	issued 24 November 2008 pursuant to the
	SimsMM Plan.
	Jeremy Sutcliffe-135,435 options issued 24
	November 2008 pursuant to the SimsMM
	Plan.
Nature of change	Issue of securities under SimsMM Plan.
Example: 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	N/A
Nature of interest
Name of registered holder
(if issued securities)
Date of change

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

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 3

11/3/2002