SYNTARA LIMITED — Director's Dealing 2011

Sep 26, 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	Malcolm John McComas
Date of last notice	8 August 2011

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	Change in indirect interests
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	On 27 September 2011 Mr McComas wasappointed sole director of Speech DynamicsPty Ltd which held 17,127 ordinary shares inPharmaxis prior to and at the date of hisappointment.
Date of change	27 September 2011
No. of securities held prior to change	Ordinary shares held indirectly: 326,666Options over ordinary shares: 40,000Ordinary shares held directly: Nil
Class	Ordinary shares

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	17,127 ordinary shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	Nil consideration – Speech Dynamics Pty Ltdheld the Pharmaxis Ltd shares prior to thedate Mr McComas became a director
No. of securities held after change	Ordinary shares held indirectly: 343,793Options over ordinary shares: 40,000Ordinaryshares held directly: Nil
Nature of changeExample: on‐market trade, off‐market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy‐back	Appointment as director of an unlistedprivate investment company that holds sharesin Pharmaxis Ltd

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 whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non‐cash, provide detailsand an estimated valuation

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Interest after change
Part 3 –+Closed period
Were the interests in the securities or contracts detailed abovetraded during a+closed period where prior written clearance wasrequired?		Yes
If so, was prior written clearance provided to allow the trade toproceed during this period?		Yes
If prior written clearance was provided, on what date was thisprovided?		26 September 2011

• See chapter 19 for defined terms.

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