The fundamental flow of magnetic fluids with good conductivities of electricity and heat have not been sufficiently discussed in the micropolar fluid theory. In the present paper, when the homogeneous electric and magnetic fields and flow direction are orthogonal to one another, a simple shear flow between two parallel plates is discussed using the system equations for conducting magnetic fluids considering the internal rotation which was proposed by the authors in the previous report. Hydrodynamical quantities such as velocity, angular velocities of fluid and suspended particles are theoretically obtained considering the diffusion effect of internal angular momentum. The simple shear flow of conducting magnetic fluids is characterized by some dimensionless numbers (electric effect parameter, Hartman number, micropolar effect parameter, magnetic effect parameter and so on). Effects that these dimensionless numbers are influent to the conducting magnetic fluids flow are investigated in detail. Futhermore a limit of the range for the wall surface coefficient when applied electromagnetic fields exist is given.