SIMS LIMITED — Major Shareholding Notification 2011

Jan 24, 2011

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	21 January 2011
of the substantial holder on
The previous notice was given to the	21 December 2010
company on
The previous notice was dated	20 December 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	16,209,029	7.91%	14,320,846	6.98%

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 Funds (1) M&G Investment Management Limited M&G Limited M&G Group Limited M&G Securities Limited Prudentialplc			~~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	3,961,418
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	Cede & Co	Cede & Co		111,574
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	8,642,850
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		803,747
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudential Plc	Nortrust Noms Ltd	Nortrust Noms Ltd		6,220
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		18,689
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		1,841
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		193,617
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		564,584
M&G Investment Management Limited, M&G Limited, M&G Group Limited, M&G Securities Limited, Prudentialplc	Jackson National Asset Mgmt	Jackson National Asset Mgmt		16,306

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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)	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.
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
~~M&G S~~ ~~iti~~ Prudential plc	~~Li it d~~	~~L~~ ~~P~~ ~~t~~ ~~Hill~~ Laurence Pountney Hill,	~~L~~ ~~d~~ ~~EC4R 0HH~~ London EC4R 0HH,	~~E~~ ~~l~~ ~~d~~ England
Chase Nominees	Ltd	125 London Wall, London	EC2Y 5AJ, England
Nortrust Nominees		The Northern Trust Company, 50 Bank Street, Canary Wharf,
Nortrust Nominees		~~London E14 5NQ~~ ~~England~~ The Northern Trust Company, 50 Bank Street, Canary Wharf,
		London E14 5NQ, England
IIIIIIIIIIIIIIIII
Signature	Ryan Dowling		capacity	Notifiables Administrator
print name
	Ryan dowling		date 24	January 2011
sign here	Ryan dowling		date 24	January 2011

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Annex 1: Transactions 21 December 2010 to 21 January 2011

Holder of relevant interest	Date of acquisition	Consideration (9)	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)	30-Dec-10 18-Jan-11	-3,415 -7,052			-156 -345
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)	11-Jan-11 12-Jan-11 13-Jan-11 14-Jan-11 17-Jan-11 18-Jan-11 19-Jan-11 20-Jan-11 21-Jan-11	-1,349,682 -1,649,438 -2,366,042 -2,138,815 -3,095,534 -2,810,946 -3,123,017 -1,137,556 -1,035,183			-65,554 -80,960 -114,515 -102,863 -150,882 -135,226 -150,000 -55,278 -51,872
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)	23-Dec-10	-44,047			-2,000
M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (JNL/M&G Global Basics Fund JBCS )	21-Dec-10 05-Jan-11	-339,455 35,048			-15,527 1,617
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)	11-Jan-11 12-Jan-11 13-Jan-11 14-Jan-11 17-Jan-11 18-Jan-11 19-Jan-11 20-Jan-11 21-Jan-11	-1,349,682 -1,649,438 -2,366,042 -2,138,794 -3,095,534 -2,810,967 -3,123,017 -1,137,576 -1,035,163		-65,554 -80,960 -114,515 -102,862 -150,882 -135,227 -150,000 -55,279 -51,871
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 Funds (4) M&G Investment Management Limited, M&G Limited, M&G Group Limited, Prudential Plc (Jackson National Asset Mgmt – JNAM)	05-Jan-11	N/A		-57,472
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)

Freehills Melbourne ASIC00603\003811236