SIMS LIMITED — Director's Dealing 2011

Sep 22, 2011

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 30/09/01 Amended 01/01/11

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.

We (the entity) give ASX the following the director for the purposes of section	information under listing rule 3.19A.2 and as agent for 205G of the Corporations Act.
Name of Director	DANIEL W. DIENST
Date of last notice	17 May 2011

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	19 – 20 September 2011

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	597,293 American Depositary Shares 410,000 options to acquire American Depositary Shares 61,092 performance rights issued 24 November 2008, and 197,006 performance rights issued 23 November 2009, and 271,865 performance rights issued 22 November 2010, each pursuant to the Sims Metal Management Long Term Incentive Plan (‘SimsMM Plan’) 181,654 options exp 24/11/2015 issued 24 November 2008, and 178,037 options exp 23/11/2016 issued 23 November 2009, and 203,908 options exp 22/11/2017 issued 22 November 2010, each pursuant to the SimsMM Plan
Class	American Depositary Shares (‘ADSs’)
Number acquired	181,654 ADSs acquired pursuant to the exercise of options
Number disposed	181,654 ADSs
Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	US$957,849 (being proceeds of US$2,481,926 from the sale of 181,654 ADSs less total options exercise price of US$1,524,077)
No. of securities held after change	597,293 American Depositary Shares 410,000 options to acquire American Depositary Shares 61,092 performance rights issued 24 November 2008, and 197,006 performance rights issued 23 November 2009, and 271,865 performance rights issued 22 November 2010, each pursuant to the SimsMM Plan 178,037 options exp 23/11/2016 issued 23 November 2009, and 203,908 options exp 22/11/2017 issued 22 November 2010, each pursuant to the SimsMM Plan

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐back	Exercise of options and on-market trade of ADSs

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

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

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