ELDERS LIMITED — Capital/Financing Update 2012

Nov 29, 2012

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30 November 2012

Market Update

 Elders obtains extension of 31 December 2012 syndicated debt maturities and additional $60m facility

 Mr Ian MacDonald to retire as a director

Elders Limited (ASX:ELD) announces that it has agreed with its syndicated lenders:

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an extension of those of its finance facilities that were set to mature at 31 December 2012; and

an additional $60m facility to fund operations through to the expected completion of the sales of Futuris Automotive and Elders Rural Services businesses and the divestment of its Forestry assets.

The finance package agreed with the company’s banking syndicate is considered by the Board to be appropriate in the context of Elders' circumstances. It includes a number of milestones for the conduct of the sales processes for both Futuris Automotive and Elders Rural Services as well as various additional covenants, including prohibitions on the payment of dividends to ordinary shareholders and distributions to hybrid holders until repayment of all syndicated debt. The maturity of the finance package reflects the company’s expectations for the timing for completion of all divestments currently being undertaken by the company.

“This finance package allows the Company sufficient facilities to pursue its divestment strategies in a timely and structured manner”, said Mr Jackman. “We are very pleased that the company’s lenders have once again demonstrated their support for the company”.

In parallel with completion of the agreed finance package, Elders’ Chairman, Mr John Ballard, announced that Mr Ian MacDonald, who brought specialist banking experience to the Board of Elders following a long career with National Australia Bank, has decided to retire from the Board with immediate effect.

“Mr MacDonald has made a significant contribution to the Board over a number of years, and I thank him for his service and wish him well” said Mr Ballard. Mr Mark Allison will assume the role of Chairman of the Remuneration and Human Resources Committee.

Further Comment:

Malcolm Jackman Chief Executive Officer 0439 642 876

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