ELDERS LIMITED — Remuneration Information 2008

Oct 14, 2008

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15 October 2008

Company Announcements Australian Securities Exchange

Termination Benefits Paid to Former Chief Executive Officer

On 29 September 2008 the Company announced that the resignation of former Chief Executive Officer Mr Les Wozniczka became effective on 26 September 2008 following completion of the search for his successor. Mr Wozniczka’s termination arrangements have now been finalised and are detailed as follows.

Payment in lieu of notice : Under the terms of his contract Mr Wozniczka was required to give 12 months notice of termination. The Board exercised its discretion under the contract to pay Mr Wozniczka 12 month’s salary ($1,391,300) in lieu of notice.

Short Term Incentive : Not applicable

Long Term Incentive : Mr Wozniczka is entitled to exercise 1,750,000 options that have previously vested under the terms of the Futuris Employee Share Option Plan following the satisfaction of performance hurdles. Details of vested options were disclosed in the Futuris Corporation Limited Remuneration Report published in the Company’s 2008 Annual Report. The 1,750,000 options comprise: 1,000,000 options issued in 2003 with an exercise price of $1.37 and 750,000 options issued in 2005 with an exercise price of $2.05.

Ex Gratia Payment : The Board resolved to exercise its discretion to pay Mr Wozniczka an ex gratia payment of $500,000 in recognition of his contribution to the Company generally, and as part compensation for agreeing to relinquish unvested performance options.

Other Entitlements : In addition to the above benefits, Mr Wozniczka is entitled to be paid his normal accrued holiday leave, long service leave and other contractual and statutory entitlements, amounting to $584,706.

Further Comment:

Stephen Gerlach Chairman

08 8425 4999

Ross Mallett Company Secretary

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