SYNTARA LIMITED — Director's Dealing 2005

Nov 14, 2005

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

		Name of entity PHARMAXIS LTD
ABN.	75 082 811 630

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Denis Michael Hanley
Date of last notice	17 December 2004

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be
disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Acquisition of shares by Denis M Hanley Pty Ltd astrustee of a trust of which Mr Denis Michael Hanley is abeneficiary
Date of change	9 November 2005
No. of securities held prior to change	Ordinary shares held directly: 566,664Ordinary shares held indirectly:151,333Options over ordinary shares: 1,040,000
Class	Ordinary
Number acquired	40,000 ordinary shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation.	$97,990.16
No. of securities held after change	Ordinary shares held directly: 566,664Ordinary shares held indirectly: 191,333Options over ordinary shares: 1,040,000

$\pm$ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in bay-back	On market acquisition
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Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation
Interest after change

+ See chapter 19 for defined terms.