ELDERS LIMITED — Capital/Financing Update 2011

Apr 26, 2011

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27 April 2011

Company Announcements Office Australian Securities Exchange

Elders Hybrids Remarketing process

Elders advises that it has elected to not initiate a remarketing process in respect of the Elders Hybrids (ELDPA). Accordingly, as provided by Hybrids prospectus, the means of calculating the distribution rate will change from 30 July 2011, i.e. the margin will step-up by 250 basis points and the base rate will alter to the higher of the 3 month bank bill swap rate and the 10 year swap rate.

As previously advised, the payment of distributions on the ELDPA securities is currently suspended under the terms of the Company’s finance arrangements until 30 September 2011. Thereafter, resumption of distributions will be subject to the determination of the Board.

Peter Hastings Company Secretary

Elders Limited ABN 34 004 336 636 Registered office: Level 3, 27 Currie Street, Adelaide, South Australia 5000. Postal Address: GPO Box 551, Adelaide, South Australia 5001. Telephone: (08) 8425 4000 Facsimile: (08) 8410 1597