ELDERS LIMITED — Capital/Financing Update 2008

Dec 18, 2008

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19 December 2008

Company Announcements Australian Securities Exchange

Futuris completes further divestments, advances Agenda for Change

Futuris reports that it has continued to progress its Agenda for Change as follows:

Webster

Futuris has sold its entire 33.7% shareholding in Webster at a price of 60 cents per share. The transaction will generate proceeds of $13.0 million which will be applied to debt reduction.

As foreshadowed in the Agenda for Change briefing, the divestment has resulted in a loss against book value of $8 million which will be recognised in the 2009 first half accounts as a non-recurring item.

The sale process was managed by JM Financial Group.

Run Corporation

The Company has terminated its equity interest in Run Corp through agreement with the latter to cancel converting notes and share options previously held by Futuris. As advised in the Agenda for Change briefing, the $10.0 million value of the Company’s investment in Run Corp will be written off in full in the 2009 half year accounts as a non-recurring item.

The cancellation does not affect the service agreement between Elders Real Estate and Run Corp for provision of RUN’s property management system, which will continue to operate.

“These events complete two more items from the agenda we have set for company renewal” said Futuris Chief Executive Malcolm Jackman. “Other items are progressing and we expect to announce their completion in due course.”

19 December 2009

Further Comment:

Malcolm Jackman 0439 642 876 Chief Executive Officer

Further information:

Don Murchland 0439 300 932 Investor Relations Manager

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