SYNTARA LIMITED — Director's Dealing 2010

Oct 19, 2010

Appendix 3Y Change of Director’s Interest Notice

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	Alan Duncan Robertson
Date of last notice	8 December 2009

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	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.
Date of change	20 October 2010
No. of securities held prior to change	Ordinary shares: 1,045,000Options over ordinary shares: 1,960,000
Class	Options over ordinary shares
Number acquired	20 October 2010: 50,000 options
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	Granted under Pharmaxis Employee Option Plan for nilconsideration. Value of $137,794 using a Black Scholesoption pricing model.
No. of securities held after change	Ordinary shares: 1,045,000Options over ordinary shares: 2,010,000

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change Grant of zero grant and zero exercise employee options Example: on-market trade, off-market trade, exercise of under Pharmaxis Employee Option Plan. The options participation in buy-backoptions, issue of securities under dividend reinvestment plan, were granted on 20 October 2010 following receipt of shareholder approval at the 2010 annual general meeting of the Company and as advised to the ASX on 8 September 2010 and 20 October 2010.

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.

Appendix 3Y Page 2

11/3/2002