ELDERS LIMITED — Board/Management Information 2011

Oct 30, 2011

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31 October 2011

Appointment of Group General Manager Australian Network

Elders [ASX:ELD] announces that it has appointed Mr David Goodfellow to the new position of Group General Manager, Australian Network, with a commencement date of 23 January 2012. David Goodfellow will join Elders from the positions of Chief Executive Officer, Paraway Pastoral Company and Chief Executive Officer, Macquarie Pastoral Fund.

The Group General Manager, Australian Network will report to the Chief Executive Officer, Elders Limited for the day-to-day management, performance and development of Elders Rural Services’ Australian network operations. These functions are currently performed by Malcolm Jackman, Chief Executive Officer of Elders who assumed responsibility for network performance on a temporary basis in July 2010 following the disappointing results in that year.

Malcolm Jackman said that the appointment was reflective of the progress made by Australian network operations. ““Now, with the network results showing turnaround and good momentum, it is time to concentrate my efforts on the tasks involved with being the CEO of Elders including driving the divestment of our Forestry assets announced earlier in October.” he said.

David Goodfellow will come to Elders with 25 years’ experience in the pastoral industry and finance sectors, and having performed senior appointments in Macquarie Group (Head of Australian Agriculture and CEO of Macquarie Pastoral Fund) and Elders (Victorian State Manager, Elders Rural Bank, and Senior Manager Victoria).

Further Comment:

Malcolm Jackman Chief Executive Officer 0439 642 876

Further information:

Don Murchland General Manager Investor & Corporate Relations Manager 0439 300 932

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