SIMS LIMITED — Major Shareholding Notification 2010

Sep 2, 2010

Form 604

Corporations Law Section 671B Notice of change of interests of substantial holder

To Company Name/Scheme	Sims Metal Management 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
	M&G Securities Limited
	Prudential plc
ACN/ARSN (if applicable)
There was a change in the interests	01 September 2010
of the substantial holder on
The previous notice was given to the	04 August 2010
company on
The previous notice was dated	04 August 2010

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	Previous Notice	Present Notice	Present Notice
	Person’s votes	Voting Power (5)	Person’s votes	Voting Power (5)
Ordinary	22,410,906	10.99%	20,094,157	9.85%

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 of change (6)	Consideration given in relation to change (7)	Class and number of securities	Person’s votes affected
	M&G Investment Management Limited M&G Limited M&G Group Limited M&G Securities Limited Prudential plc			~~affected~~
		PLEASE SEE ANNEX 1 (Below)

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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, M&G Securities 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	7,487,641
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	Cede & Co	Cede & Co		110,076
M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited M&G Securities Limited, Prudentialplc	Nortrust Noms Ltd A/C MEJ01	Nortrust Noms Ltd A/C MEJ01	Power to dispose of or control the exercise of a power to dispose of, the securities. Power to exercise or control the exercise of, a right to vote attached to the securities	10,782,755
M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited M&G Securities Limited, Prudentialplc	Nortrust Noms Ltd A/C MEN01	Nortrust Noms Ltd A/C MEN01		792,949
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	Nortrust Noms Ltd	Nortrust Noms Ltd		6,137
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudentialplc	Nortrust Noms Ltd A/C MXH01	Nortrust Noms Ltd A/C MXH01		0
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudentialplc	PRUCLT HSBC GIS NOM(UK) PPL AC	PRUCLT HSBC GIS NOM(UK) PPL AC		18,612
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	HSBC Seoul GL Basics Mother Fund	HSBC Seoul GL Basics Mother Fund		2,948
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	JNL/M&G Global Basics Fund	JNL/M&G Global Basics Fund		207,527
M&G Investment Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited, M&G Securities Limited, Prudentialplc	Nortrust Noms Ltd A/C MEQ01	Nortrust Noms Ltd A/C MEQ01		557,000
M&G Investment Management Limited, M&G Limited,	Jackson National Asset Mgmt	Jackson National Asset Mgmt		81,326

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M&G Group Limited, M&G Securities Limited, Prudentialplc
M&G Investment Funds (4) M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudentialplc	Nortrust Noms Ltd A/C MNC01	Nortrust Noms Ltd A/C MNC01		47,186

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.
M&G Investment Funds (4)	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.
Addresses 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 Management Limited	Laurence Pountney Hill, London EC4R 0HH, England
M&G Limited	Laurence Pountney Hill, London EC4R 0HH, England
M&G Group Limited M&G Securities Limited	Laurence Pountney Hill, London EC4R 0HH, England 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

6. Addresses

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

IIIIIIIIIIIIIIIII Signature print name Ryan Dowling capacity Notifiables Administrator sign here Ryan dowling date 02 September 2010

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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 04 August 2010 to 01 September 2010

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 (HSBC Seoul GL Basics Mother Fund KBAS)	06-AUG-2010 01-SEP-2010	-3,911 -6,829		-221 -412
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (Cede & Co - VVIF)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (Chase Nominees LTD VINT & VANG)	09-AUG-2010 12-AUG-2010 13-AUG-2010 16-AUG-2010 17-AUG-2010 25-AUG-2010 26-AUG-2010 31-AUG-2010 01-SEP-2010	-1,789,644 -2,384,987 -2,288,487 -1,974,490 -1,784,589 -1,121,943 -1,992,999 -1,139,023 -2,499,185		-100,000 -138,727 -135,688 -118,597 -106,988 -71,543 -128,457 -68,652 -148,593
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (PRUCLT HSBC GIS NOM(UK) PAC AC)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, The Prudential Assurance Company Limited, Prudential plc (PRUCLT HSBC GIS NOM(UK) PPL AC)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (JNL/M&G Global Basics Fund JBCS )	01-SEP-2010	-387,454		-23,317
M&G Investment Management Limited, M&G Limited, M&G Group Limited, PrudentialPlc (JPBC)

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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 – AUST)	05-AUG-2010 06-AUG-2010 09-AUG-2010 11-AUG-2010 12-AUG-2010 13-AUG-2010 16-AUG-2010 17-AUG-2010 25-AUG-2010 26-AUG-2010 31-AUG-2010 01-SEP-2010	-2,453,411 -1,989,244 -1,789,644 -1,099,941 -179,432 -1,755,797 -1,514,885 -1,369,200 -1,121,943 -1,992,999 -1,139,023 -2,499,185		-137,862 -112,138 -100,000 -62,383 -10,437 -104,104 -90,991 -82,085 -71,543 -128,457 -68,652 -148,593
M&G Investment Funds (1) M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Nortrust Noms Ltd A/C MEN01 – INTG)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc Nortrust Noms Ltd (SAMIA)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (Jackson National Asset Mgmt - JNAM)	09-AUG-2010 11-AUG-2010 19-AUG-2010 25-AUG-2010	N/A N/A N/A N/A		340 577 530 507
M&G Investment Funds (4) M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Nortrust Noms Ltd A/C MNC01 MGF)	11-AUG-2010 12-AUG-2010 13-AUG-2010 16-AUG-2010 17-AUG-2010 01-SEP-2010	-1,099,923 -179,432 -172,166 -148,557 -134,276 -888,278		-62,382 -10,437 -10,208 -8,923 -8,050 -52,814
M&G Investment Funds (1) M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Nortrust Noms Ltd A/C MEQ01 FARE)
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential plc (Nortrust Noms Ltd A/C MXH01 - GDAF)	05-AUG-2010 06-AUG-2010	-78,517 -63,648		-4,412 -3,588

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Freehills Melbourne ASIC00603\003811236