SIMS LIMITED — Major Shareholding Notification 2007

Jun 13, 2007

1. JUN. 2007 11:08

1 CLAYTON UTZ 61 2 82206700

NO. 0036 $P. 1/8$

CLAYTON UTZ

Svdnev	Melbourne Brisbane		Perth Canberra	Darwin

14 June 2007

By Fax 1900 999 279

The Manager Australian Stock Exchange Limited Company Announcements Office Exchange Centre 20 Bridge Street Sydney NSW 2000

Our reference: 126/13103/80048257

Number of pages - 8

Dear Sir

Sims Group Limited: Notice of change of interests of substantial holder

On behalf of Hugo Neu Corporation, we attach a Form 605: Notice of ceasing to be a substantial holder, in respect of the holding of Hugo Neu Corporation and its related entities in Sims Group Limited ACN 114 838 $630.$

A copy of this form has been provided to Sims Group Limited.

We also attach an Appendix 3Z Final Director's Interest Notice in respect of John L. Neu.

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Yours faithfully

leobhlain

Rod Halstead, Partner +61 2 9353 4126 rhalstead@claytonutz.com

Contact: Eirene Garnsey, Solicitor +61 2 9353 4892 egamsey@claytonutz.com

The information contained in this facsimile message may be confidential information, and may also be the subject of legal professional privilege. If you are not the intended recipient, any use, disclosure or copying of this document is unauthorised. If you have received this document in error, please telephone +61 2 9353 4000.

Clayton Utz Lawyers Levels 19-35 No. 1 O'Connell Street Sydney NSW 2000 Australia

PO Box H3 Australia Square Sydney NSW 1215 DX 370 Sydney

T +61 2 9353 4000 F +61 2 8220 6700 www.claytonutz.com

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605 page 1/2 15 July 2001

			Corporations Act 2001	Form 605Section 671B
			Notice of ceasing to be a substantial holder
To Company Name/Scheme			Sime Group Limited (the "Company")
ACN/ARSN		ACN 114 838 630
1. Details of substantial holder (1)
Name		Trusts").	Flynn-Learner ("FL") and Hugo Neu Corporation ("HNC") (as nomines for itself and FL) and each of the entities liated inAnnexure A to this notice (together the "Hugo Neu Group") and The Trust Created under Article Seventh of the Will ofHugo Neu for the Primary Beriefit of the Family of John L. Neu, The John L. Neu Trust No. 1 and The John L. Neu TrustNo. 2, and John L. Neu, in his capacity as voting trustee of each of the foregoing trusts (together, the "Hugo Neu
ACN/ARSN (if applicable)
The holder coased to be acubstantial holder onThe previous notice was dated2.	Changes in relevant interests	The provious notice was given to the company on	13/0/20078/6/2007B/6/2007
			Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or
	Date ofchange	Person whoserelevantInterest	scheme, aince the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:Nature ofchange (4)	Considerationgiven inrelationlo change ( 6)		Class (6) andnumber ofsecuritieseffected	Person's volesaffoctod
	13/6/2007	changedHugo Neu Groupland the Hugo NeuTrusts	HNC has transferred 1,260,430ordinary shares in the Company toThe John and Wondy Neu FamilyFoundation, Inc. by way ofchentable donation (as set out inthe share transfer form annexed tothis notice as Annexure B).		Mil (charitable(donation)	1,260,430 ordinaryIshares	1,260,430
з.	Changes in association
			The persons who have become associates (3) of, cassed to be associates of, or have changed the nature of their association (7) with, the substantial holder in
relation to voting interests in the company or scheme are as follows:Name and ACN/ARSN (if applicable)				Nature of essociation
	N/A			N.A
			, ,s - 1
4. Addresses
		The addresses of persons named in this form are as follows:
	Name			Address
	Hugo Neu Group						c/o HNC, 120 Fifth Avenue, 6th Floor, New York New York, 10011 USA
	Hugo Neu Trusts						c/o HNC, 120 Fifth Avenue, 6th Floor, New York New York, 10011 USA

Signature

	print name John L. Ngu	Chairman of the Board andcapacity Chief Executive Officer ofHugo Neu Corporation
sign here	180	13/8/2007date
	.-------

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605 page 2/2 15 July 2001

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager andtrustee of an equity trust), the names could be included in an ann $(1)$ is clearly set out in paragraph 4 of the form. $\sim 10$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(3)$
• Include dotal's of: $(4)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copyof any document setting out the terms of any relevant agreement, and a statemen $(a)$
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of thesecurities to which the relevant interest relates (indicating clearly the $\langle$ b $\rangle$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

Details of the consideration must include any and all banelits, moneys and other, that any person from whom a relevant interest was acquired has, ormay, become entitied to receive in relation to that acquisition. Details $(5)$

The voting shares of a company constitute one class unless divided into separate dasses. $(f)$

Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(7)$

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Annexure "A"

This is the annexure marked "A" of one page referred to In Form 605 Notice of ceasing to be a substantial holder signed by me and dated 13 June 2007

Date: 13 June 2007

Signature:

Name: John L. Neu

HNSP Development, LLC. (formerly known as Hugo Neu Steel Products, Inc.)

より

• River Terminal Warehouses Corp.
• RTC Properties, Inc.
• RTL Services Inc.
• Garden Navigation Corp.
• Cove Contractors Inc.
• The Learner Company
• Fresno Recycling Company
• Western Stevedoring Corp.
• Neu Properties, Inc.
• Metro Metal Recycling Corp.
• Hugo Neu Corporation FS Corp.
• PPA Metal Recycling Corp.
• Hugo Neu Resource Recovery, LLC
• C.O.S. Properties LLC
• L.A.J. Properties LLC

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Annexure "B"

This is the annexure marked "B" of two pages referred to in Form 605 Notice of ceasing to be a substantial holdersigned by me and dated 13 June 2007

Date: 13 June 2007 Signature: (

Name: John L. Neu

LegaN104415172.1

1. JUN. 2007 11:09

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1 CLAYTON UTZ 61 2 82206700

SHARE TRANSFER FORM
For Non-Market TransactionsAffix Stamp Duty Here
FULL NAME OFCORPORATION	Sima Group Limited ACN 114 638 630							ASX CodeSGMfor the
STATE OR TERRITORY OFINCORPORATION	Victoria	Company:
DESCRIPTION OFSECURITIES		Ordinary (fully paid)
QUANTITY	Words:one million, two hundred and sixty thousand, four hundred and thirtyFigures:1,260,430
FULL NAME OFTRANSFEROR (SELLER)	Hugo Neu Corporation
SELLER'SSECURITYHOLDERREFERENCE NUMBER	SRN	٥O.	5	0Ō	$\mathbf 0$	O	٥	1	0
CONSIDERATION	Nil (charitable donation)											Date ofTransfer13 June 2007
FULL NAME OFTRANSFEREE (BUYER)	The John and Wandy Neu Family Foundation, Inc.
FULL ADDRESS OFTRANSFEREE (BUYER)	120 Fifth Avenue, Suite 600, New York, NY 10011
STATEMENT UNDERSECTION 1072H:	Under section 1072H of the Corporations Act 2001 (Cth), the transfereestates that upon registration of this transfer it will hold the securities:											BENEFICIALLY
We the registered holder and undersigned transferor (celler) for the above consideration transfer to the transferee (buyer) namedabove the securities as specified above standing in our name in the books of the corporation named above, subject to the severalconditions on which we held those securities at the time of signing and we the trensferse (buyer) named above agree to accept thosesecurities on the same conditions.
We have not received any notice of revocation of the Power of Attorney by death of the grantor or otherwise, under which this transferis slaned.
SIGNATURE OFTRANSFEROR (SELLER)	SIGNED by Hugo Neu Corporation, byIts Attomey under a Power of Attorneydated 8 June 2007, in the presence of:Signature of witnessEilene GameuName	Contract				Geoß HorkmanМат ю	věmotla to enutario					FDRREGISTRARLIGE
DATE SIGNED	131612007
SIGNATURE OFTRANSFEREE (BUYER)	SIGNED for The John and Wendy NeuFamily Foundation, Inc., by its Attorneyunder a Power of Attorney dated 8 June2007, in the presence of:Signature of witness	a m u
	Name

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CONTRACTOR