Does Erase all Content from iphone delete sim card data?

Hello

I am currently looking to sell my iphone 4 and I understand that the safest thing to do is to use the 'Erase all Content and settings' before selling it to ensure that no personal information about me ends up in the buyers hands.

This is fine but I want to make sure that doing this will not delete any of my contacts saved on my sim card. I want to take the sim card and use it in a new (non-apple) phone which will probably be a Samsung. My contract still has some time to go and I want to see it out (and prob continue with it) in the Samsung.

Thanks in advance for any help.

Leon