ELDERS LIMITED — Capital/Financing Update 2009

Dec 3, 2009

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4 December 2009

Company Announcements Office Australian Securities Exchange

Sale of ITC Timber Processing Assets Completed

Elders (ASX:ELD) announces completion of the sale of its timber processing assets to Gunns Limited for $88.5 million.

As advised to the ASX on 27 November 2009, the transaction involves the sale of timber processing assets owned by Elders subsidiary ITC Limited, excluding the Company’s 50% shareholding in the SmartFibre joint venture which has been retained.

Net proceeds of the sale have been applied to debt reduction.

Further Comment: Malcolm Jackman 0439 642 876 Chief Executive Officer

Further Information: Don Murchland 0439 300 932 General Manager Investor & Corporate Relations

Elders Limited ABN 34 004 336 636 Registered office: Level 3, 27 Currie Street, Adelaide, South Australia 5000. Postal Address: GPO Box 1176, Adelaide, South Australia 5001. Telephone: (08) 8425 4000 Facsimile: (08) 8410 1597