SIMS LIMITED — Earnings Release 2007

Jul 23, 2007

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ASX & MEDIA RELEASE (ASX CODE: SGM)

SYDNEY, 24 JULY 2007

EARNINGS UPDATE

On 1 May, 2007 the Company advised that it expected full year earnings to be between $235-245m. Following a successful fourth quarter, particularly in North America, the Company now expects full year earnings to be between $250-255m, based on its preliminary, un-audited full year accounts.

Sims Group’s core business is metal recycling, with an emerging business in recycling solutions. Headquartered in Australia, Sims earns over 70 per cent of its revenue from international operations in the United Kingdom, Continental Europe, North America, New Zealand and Asia. Sims has over 3,500 employees, annual turnover of A$5.0 billion and is listed on the Australian Stock Exchange (ASX CODE: SGM)

For further information contact :

Jeremy Sutcliffe Group Chief Executive Sims Group Limited 41 McLaren Street NORTH SYDNEY NSW 2060 ABN 37 008 634 526 Phone: (02) 9956 9180