SIMS LIMITED — Director's Dealing 2012

Mar 14, 2012

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.

Name of Director	DANIEL W. DIENST
Date of last notice	17 November 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 relevantinterest.	N/A
Date of change	14 March 2012

+ See chapter 19 for defined terms.

No. of securities held prior to change	597,293 American Depositary Shares
	410,000optionstoacquireAmericanDepositary Shares
	61,092performancerightsissued24November 2008, and 197,006 performancerightsissued23November2009,and271,865performancerightsissued22November2010,and332,916performance rights issued 11 November2011, each pursuant to the Sims MetalManagementLong Term Incentive Plan("SimsMM Plan")
	178,037 options exp 23/11/2016issued 23November 2009, and 203,908 options exp22/11/2017 issued 22 November 2010, and283,695 options exp 11/11/2018 issued 11November2011,eachpursuanttotheSimsMM Plan
Class	American Depositary Shares
Number acquired	N/A
Number disposed	4,700
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	Nil- charitable gift - estimated valueUS$75,247

+ See chapter 19 for defined terms.

No. of securities held after change	592,593 American Depositary Shares
	410,000optionstoacquireAmericanDepositary Shares
	61,092performancerightsissued24November 2008, and 197,006 performancerightsissued23November2009,and271,865performancerightsissued22November2010,and332,916performance rights issued 11 November2011, each pursuant to the SimsMM Plan
	178,037 options exp 23/11/2016issued 23November 2009, and 203,908 options exp22/11/2017 issued 22 November 2010, and283,695 options exp 11/11/2018 issued 11November2011,eachpursuanttotheSimsMM Plan
Nature of changeExample: on‐market trade, off‐market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy‐back	Off-market transfer

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 inrelation to which the interest has changed
Interest acquired
Interest disposed

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non‐cash, provide detailsand an estimated valuation
Interest after change

Part 3 – +Closed period

Were the interests in the securities or contracts detailedabove traded during a +closed period where prior written	No
clearance was required?
If so, was prior written clearance provided to allow the tradeto proceed during this period?
If prior written clearance was provided, on what date was thisprovided?

+ See chapter 19 for defined terms.