NEW YORK, March 20, 2008 — The Bank of New York Mellon (NYSE: BK), a global leader in asset management and securities servicing, has been selected by Sims Group Limited ("Sims Group") as the depositary bank for its American depositary receipt (ADR) program. Each Sims Group ADR represents one ordinary share. The ADRs trade on the New York Stock Exchange under the symbol "SMS."

The new Sims Group ADRs are a result of the March 14 merger between Sims Group Limited and Metal Management, Inc. Sims Group's existing over-the- counter-traded ADR program is being upgraded to a New York Stock Exchange- listed program.

Sims Group's core business is metal recycling, with an emerging business in recycling solutions. Sims Group has recycling operations in North America, Australasia, United Kingdom and Continental Europe.

"It is an exciting time for our company as we list on the New York Stock Exchange," said Rob Larry, group chief financial officer of Sims Group. "Gaining exposure for our ADRs in the U.S. market is a key goal for us and we believe The Bank of New York Mellon as depositary is well positioned to help us achieve it."

"We are pleased to serve as depositary as Sims brings its ADRs to the NYSE," said Christopher Sturdy, executive vice president and head of The Bank of New York Mellon's Depositary Receipt Division. "We look forward to working with the company on specialized promotional and outreach programs designed to heighten Sims' visibility in the U.S. investment community."

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $23 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt. Additional information is available at bnymellon.com.

This release is for informational purposes only. The Bank of New York Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.