SYNTARA LIMITED — Major Shareholding Notification 2011

Aug 21, 2011

FACSIMILE BNP PARIBAS INVESTMENT PARTNERS (AUSTRALIA) LIMITED

Level 6, 60 Castlereagh Street, Sydney NSW 2000 Tel: +61 2 9619 6238 Fax: +61 2 9006 9051

DATE:	22 August 2011
ATTENTION:	ASX Company Announcements
FAX NUMBER:	1300 135 638
FROM:	Troy Daly
SUBJECT:	Form 605 - Notice of ceasing to be a substantial holder
PAGES:	2 (including this page)

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Dear Sir/Madam,

In accordance with section 671B of the Corporations Act 2001, please find attached a Notice of ceasing to be a substantial holder (Form 605) concerning Pharmaxis Limited (PXS) shares held by BNP Paribas Investment Partners (Australia) Limited.

Kind regards

Troy Daly

Head of Compliance

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	PHARMAXIS LIMITED (PXS)
ACN/ARSN	082 811 630
1. Details of substantial holder(1)
Name	BNP Paribas Investment Partners (Australia) Limited (BNPP IPAL)
ACN/ARSN (if applicable)	008 576 449
The holder ceased to be asubstantial holder on		19/08/2011
The previous notice was given to the company onThe previous notice was dated		25/05/201127/05/2011

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since thesubstantial holder was last required

Date ofchange	Person whoserelevant interestchanged	Nature ofchange $(4)$	Considerationgiven in relationto change $(5)$	Class (6) andnumber ofsecurities affected	Person's votesaffected
26/05/2011 lo19/08/2011	BNP Paribas InvestmentPartners (Australia) Limited(as Investment Manager)	Sale of Securities	$-5257.323$	$-232,737$ ordinary	$-232.737$
26/05/2011 to19/08/2011		Security transfer- change ofInvestmentManager	No consideration	-5,493,325 ordinary	$-5.493.325$

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
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4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
	BNP Paribas Investment Partners (Australia) Limited Level 6, 60 Castlereagh Street, Sydney NSW 2000

Signature	print name	Troy Daly	capacity	Head of Compliance
	sign here	Increase	date	22/08/2011