SIMS LIMITED — Director's Dealing 2010

Dec 12, 2010

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	GERALD E. MORRIS
Date of last notice	3 March 2010

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 interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	10 December 2010
No. of securities held prior to change	205,000 options to acquire American Depositary Shares 25,000 American Depositary Shares
Class	See above
Number acquired	61,500 American Depositary Shares
Number disposed	56,500 ordinary shares (converted from American Depositary Shares)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$A1,124,075

• 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 after change 143,500 options to acquire American Depositary Shares 30,000 American Depositary Shares Nature of change Exercise of 61,500 options exp 7 April 2011

Example: on-market trade, off-market trade, exercise of options, issue of at US$15.29 each. securities under dividend reinvestment plan, participation in buy-back On-market trade of 56,500 ordinary 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.

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 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