SYNTARA LIMITED — Director's Dealing 2011

Nov 24, 2011

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 30/09/01 Amended 01/01/11

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.

We (the entity) give ASX the followingthe director for the purposes of section	information under listing rule 3.19A.2 and as agent for205G of the Corporations Act.
Name of Director	Richard van den Broek
Date of last notice	22 October 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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Shares held by HSMR Advisors (QP) L.P.Richard van den Broek is the managingpartner of the manager of HSMR Advisors(QP) L.P.
Date of change	24 November 2011
No. of securities held prior to change	Ordinary shares held on trust: 45,000Ordinary shares held directly: 30,000Ordinary shares held by HSMR Advisors:830,000 ordinary shares.
Class	Ordinary shares
Number acquired	100,000
Number disposed	-
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	$1.0291 per share

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

	No. of securities	No. of securities	No. of securities
		No. of securities		held after	change			OrdinOdi	ary shares held on trust: 45,000ary shares held directly: 30,000
								r
								Ordin	ary shares held by HSMR Advisor00 ordinaryshares.				s:
								930,0
		Nature of change							arket trade
								On-m
		Example:issue of se	on‐market trcurities under	ade, off‐markdividend reinv	et trade, exercise of options,estment plan, participation in
		buy‐back

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 to which
interest related prior to change
Note: Details are only required for a contract in
relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non‐cash, provide details
and an estimated valuation
Interest after change

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed	No
above traded during a+closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	N/A
to proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011