SIMS LIMITED — Director's Dealing 2008

Sep 2, 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 GROUP 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	29 February 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 relevant interest.	The Sutcliffe Family Trust, an associate ofthe Director, is theholderof 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	28 August 2008
No. of securities held prior to change	The Sutcliffe Family Trust-52,255 ordinaryshares (subject to the contract describedabove)Jeremy Sutcliffe-71,947 performance rightsissued pursuant to individual contractJeremy Sutcliffe-224,534 performance rightsissued pursuant tothe Sims Group LongTerm Incentive Plan
Class	See above

+ See chapter 19 for defined terms.

Number acquired	58,594ordinary shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	N/A
No. of securities held after change	The Sutcliffe Family Trust-52,255ordinaryshares (subject to the contract describedabove)Jeremy Sutcliffe-58,594 ordinary sharesJeremy Sutcliffe-71,947 performance rightsissued pursuant to individual contractJeremy Sutcliffe-165,940 performance rightsissued pursuant tothe Sims Group LongTerm Incentive Plan
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Vestingof performance rightsissued pursuanttothe Sims Group Long Term Incentive Plan

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
No. and class of securities to which
interest related prior to changeNote: Details are only required for a contract in relation towhich the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation
Interest after change

+ See chapter 19 for defined terms.