SYNTARA LIMITED — Director's Dealing 2011

Aug 25, 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.

Name of Director Denis Michael Hanley

Date of last notice 6 July 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	Change in direct interests
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.
Date of change	26 August 2011
No. of securities held prior to change	Ordinary shares held directly: 570,073Ordinary shares held indirectly: 208,149Options over ordinary shares: 1,120,000
Class	Issue of ordinary shares on exercise ofoptions
Number acquired	Acquisition of 640,000 ordinary shares uponexercise of options granted under thePharmaxis Employee Option Plan
Number disposed	Exercise of 640,000 options granted underthe Pharmaxis Employee Option Plan
Value/ConsiderationNote: If consideration is non‐cash, provide details and estimatedvaluation	A$0.3125 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 held after change	Ordinary shares held directly: 1,210,073
	Ordinary shares held indirectly: 208,149
	Options over ordinaryshares: 480,000
Nature of change	Exercise of options granted under the
Example: on‐market trade, off‐market trade, exercise of options,issue of securities under dividend reinvestment plan, participation inbuy‐back	Pharmaxis Employee Option Plan on 1September 2001, with an exercise price of
	$0.3125 and an expiry of 30 August 2011

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

Were the interests in the securities or contracts detailed abovetraded during a+closed period where prior written clearance wasrequired?	No
If so, was prior written clearance provided to allow the trade toproceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011