ELDERS LIMITED — M&A Activity 2013

Mar 19, 2013

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20 March 2013

Reuters’ Article

Elders Limited (ASX: ELD) notes that Reuters published an on-line article today, 20 March 2013, entitled “Australian regulator reviews Ruralco's takeover of Elders”. Elders also notes that the Australian Competition & Consumer Commission (ACCC) yesterday commenced an informal review of a Ruralco proposal “to acquire from Elders Limited 100% of Elders Rural Services Limited and its subsidiaries that are engaged in the business operations of Elders agribusiness divisions”.

Elders is concerned that the headline of that article might give the impression that a formal takeover proposal had been received from Ruralco (ASX: RHL). No such takeover offer has been received from Ruralco.

As Elders announced to the ASX on 29 October 2012, the Board of Elders has commenced a process to sell Elders Rural Services. That process has attracted a high level of interest and continues with a number of parties on a confidential basis. No one interested party has been granted preferential status by Elders.

Elders will not be making any announcement to the ASX in connection with that sales process until required by its continuous disclosure obligations to do so.

Further comment: Malcolm Jackman 0439 642 876 Chief Executive Officer

Media queries: Amy McDonald 0419 226 384 Senior Communications Advisor

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