SIMS LIMITED — Major Shareholding Notification 2008

Oct 13, 2008

Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Sims Group Limited
ACN/ARSN
1.Details of substantial holderName	M&G Investment Management LimitedM&G LimitedM&G Group LimitedPrudential plc
ACN/ARSN (if applicable)There was a change in the interests	10 October 2008
of the substantial holder onThe previous notice was given to thecompany on	17 June 2008
The previous notice was dated	17 June 2008

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate(2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Security (4)	Previous Notice		Present Notice
	Person's votes	Voting Power (5)	Person's votes	Voting Power (5)
Ordinary	16,260,620	9.00%	18,220,805	10.08%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature ofchange (6)	Consideration given inrelation to change (7)	Class and numberof securities affected	Person's votes affected
	M&G InvestmentManagement LimitedM&G LimitedM&G Group LimitedPrudential plc		PLEASE SEE ANNEX 1 (Below)

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder	Nature of relevant interest	Class and number ofsecurities
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential Plc	ChaseNominees Ltd	ChaseNominees Ltd	Power to disposeof or control	8,555,000
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential Plc	Cede & Co	Cede & Co	the exercise ofa power todispose of, thesecurities	65,403
M&G Investment Funds (1)M&G Investment ManagementLimitedM&G LimitedM&G Group LimitedPrudential plc	NortrustNoms Ltd A/CMEJ01	Nortrust NomsLtd A/C MEJ01		8,515,000
M&G Investment Funds (1)M&G Investment ManagementLimitedM&G LimitedM&G Group LimitedPrudential plc	NortrustNoms Ltd A/CMEN01	Nortrust NomsLtd A/C MEN01		700,000
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential Plc	NortrustNoms Ltd	Nortrust NomsLtd	Power toexercise orcontrol theexercise of, aright to vote	5,220
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential plc	PRUCLT HSBCGIS NOM(UK)PPL AC	PRUCLT HSBCGIS NOM(UK)PPL AC	attached to thesecuritiesPower to disposeof or control	12,031
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential Plc	HSBC SeoulGL BasicsMother Fund	HSBC Seoul GLBasics MotherFund	the exercise ofa power todispose of, thesecurities	8,699
M&G Investment ManagementLimited,M&G Limited,M&G Group Limited,Prudential Plc	JNL/M&GGlobalBasics Fund	JNL/M&GGlobal BasicsFund		9,452
M&G Investment Funds (4)M&G Investment ManagementLimitedM&G LimitedM&G Group Limited	NortrustNoms Ltd A/CMNC01	Nortrust NomsLtd A/C MNC01		350,000

5. Changes in association

The persons who have been associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and CAN/ARSN (if applicable) Nature of association

M&G Investment Funds (1)	An Open Ended Investment Company (Separate Legal Entity,not within the Prudential plc group of companies), theassets are managed by M&G Investment Management Limited,which is a wholely owned subsidiary of Prudential Plc, asare M&G Limited and M&G Group Limited and as such thesecompanies are included within this notice.
M&G Investment Funds (4)	An Open Ended Investment Company (Separate Legal Entity,not within the Prudential plc group of companies), theassets are managed by M&G Investment Management Limited,which is a wholely owned subsidiary of Prudential Plc, asare M&G Limited and M&G Group Limited and as such thesecompanies are included within this notice.

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
M&G Investment Funds (1)	Laurence Pountney Hill, London EC4R 0HH, England
M&G Investment Funds (4)	Laurence Pountney Hill, London EC4R 0HH, England
M&G Investment ManagementLimited	Laurence Pountney Hill, London EC4R 0HH, England
M&G Limited	Laurence Pountney Hill, London EC4R 0HH, England
M&G Group Limited	Laurence Pountney Hill, London EC4R 0HH, England
Prudential plc	Laurence Pountney Hill, London EC4R 0HH, England
Chase Nominees Ltd	125 London Wall, London EC2Y 5AJ, England
Nortrust Nominees	The Northern Trust Company, 50 Bank Street, Canary Wharf,London E14 5NQ, England

Signature

print name DIpesh Varsani capacity Notifiables Administrator sign here DIpesh Varsani date 13 October 2008

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Law.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Law.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (7) Include details of:
  • (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • (b) 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 the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

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

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annex 1: Transactions 14 June 2008 to 10 October 2008

Holder of relevantinterest	Date of acquisition	Consideration (9)		Class and number ofsecurities
		Cash	Non-cash	Ord NPV
M&G Investment Management Limited,M&G Limited,M&G Group Limited,Prudential plc(HSBC Seoul GL Basics Mother Fund)	18-JUN-200828-AUG-200822-SEP-2008	18,493-15,90222,358		493-462702
M&G Investment Management Limited,M&G Limited,M&G Group Limited,Prudential plc(Chase Nominees LTD )	18-JUL-200804-AUG-200805-AUG-200806-AUG-200809-OCT-200810-OCT-2008	-3,889,9212,674,945510,6916,264,1635,640,5595,203,912		-115,00082,94117,059200,000250,000250,000
M&G Investment Management Limited,M&G Limited,M&G Group Limited,Prudential Plc(JNL/M&G Global Basics Fund )	08-OCT-2008	234,480		9,452
M&G Investment Funds (1)M&G Investment Management Limited,M&G Limited,M&G Group Limited,Prudential Plc(Nortrust Noms Ltd A/C MEJ01 &Nortrust Noms Ltd A/C MEN01 )	18-JUN-200815-JUL-200818-JUL-200818-JUL-200829-AUG-200822-SEP-200823-SEP-200824-SEP-2008	3,994,9843,672,500-10,147,62014,037,5413,479,4755,909,1864,925,8915,400,892		100,000100,000-300,000415,000100,000181,224152,834165,942
M&G Investment Funds (4)M&G Investment Management Limited,M&G Limited,M&G Group Limited,Prudential Plc	01-SEP-200805-SEP-200811-SEP-2008	3,461,3594,737,1103,084,687		100,000150,000100,000

(Nortrust Noms Ltd A/C MNC01)