SIMS LIMITED — Major Shareholding Notification 2008

Mar 24, 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 holder
Name	M&G Investment Funds (1)
	M&G Investment Management Limited
	M&G Limited
	M&G Group Limited
	Prudential plc
ACN/ARSN (if applicable)
There was a change in the interests	18 March 2008
of the substantial holder on
The previous notice was given to the	22 February 2008
company on
The previous notice was dated	22 February 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)	Class of Security (4)	Previous Notice	Previous Notice	Previous Notice	Previous Notice	Present Notice	Present Notice	Present Notice
		Person’s votes	Voting Power (5)			Person’s votes		Voting Power (5)
Ordinary		15,504,629	12.25%			15,703,048		8.72%
Changes in relevant interests culars 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 tantial 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 of change (6)	Consideration given in relation to change (7)		Class and number of securities affected	Person’s votes affected
	M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited Prudential plc
				PLEASE SEE ANNEX 1 (Below)

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:

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Nature of relevant interest	Class and number of securities
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc	Chase Nominees Ltd	Chase Nominees Ltd	Power to dispose of or control the exercise of a power to dispose of, the securities	7,798,000
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc	Cede & Co	Cede & Co		34,900

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M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited Prudentialplc	Nortrust Noms Ltd A/C MEJ01	Nortrust Noms Ltd A/C MEJ01	Power to exercise or control the exercise of, a right to vote attached to the securities Power to dispose of or control the exercise of a power to dispose of, the securities	6,850,000
M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited Prudentialplc	Nortrust Noms Ltd A/C MEN01	Nortrust Noms Ltd A/C MEN01		1,000,000
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc	Nortrust Noms Ltd	Nortrust Noms Ltd		5,122
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudentialplc	PRUCLT HSBC GIS NOM(UK) PPL AC	PRUCLT HSBC GIS NOM(UK) PPL AC		11,804
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudentialplc	PCA Global Basics Equity Fund	PCA Global Basics Equity Fund		3,222

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), the assets are managed by M&G Investment Management Limited, which is a wholely owned subsidiary of Prudential Plc, as are M&G Limited and M&G Group Limited and as such these companies are included within this notice. Since the previous notice there has been no change in overall ownership structure of the assets.

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 Management		Laurence Pountney Hill, London EC4R 0HH, England
Limited
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
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Signature
print name	Emma Thompson capacityNotifiables Administrator
sign here	Emma Thompson date20 March 2008

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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.

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Annex 1: Transactions 21 February 2008 to 18 March 2008

Holder of relevant interest	Date of acquisition	Consideration (9)	Consideration (9)	Class and number of securities
		Cash	Non-cash	Ord NPV
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Chase Nominees Ltd)	21-FEB-08	6,237,472		190,476
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (PRUCLT HSBC GIS NOM(UK) PPL AC)	07-MAR-08	-61,825		-2,000
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (PCA Global Basics Equity Fund)	03-MAR-08	13,680		419
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Cede & Co - VVIF)	21-FEB-08	311,880		9,524

Freehills Melbourne ASIC00603\003811236