SYNTARA LIMITED — Major Shareholding Notification 2011

May 26, 2011

PARTNERS

FACSIMILE BNP PARIBAS INVESTMENT PARTNERS (AUSTRALIA) LIMITED

Level 6, 60 Castlereagh Street, Sydney NSW 2000 Tel: +61 2 9619 6291 Fax: (612) 9006 9051

DATE:	27 May 2011
ATTENTION:	ASX Company Announcements
FAX NUMBER:	1300 135 638
FROM:	Troy Daly
SUBJECT:	Form 604 - Notice of change of interests of substantial holder
PAGES:	6 (including this page)

This is a restricted communication. It contains confidential material which is intended for the addressee only and is subject to confidentiality rights of the sender and addressee. Confidentiality is not waived, lost or affected in any way whatsoever. If you are not the intended recipient or addressee please notify the sending office immediately, and then destroy all pages of the message.

Dear Sir/Madam,

In accordance with section 671B of the Corporations Act 2001, please find attached a Notice of change of interests of substantial holder (Form 604) concerning Pharmaxis Limited (PXS) shares held by BNP Paribas Investment Partners (Australia) Limited.

Kind regards

Troy Daly

Compliance Manager

604

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/SchemePHARMAXIS LIMITED (PXS)
ACN/ARSN	082811630
1. Details of substantial holder (1)NameACN/ARSN (if applicable)	008576449	BNP Paribas Investment Partners (Australia) Limited
There was a change in the interests of thesubstantial holder on		25/05/2011
The previous notice was given to the company on		13/02/2009

The previous notice was dated

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had arelevant interest (3) in when last required, and when now r

12/02/2009

Class of securities (4)	----Previous notice		Present notice--------------------------------------
---------	Person's votes	Voting Power (5)	Person's votes.	Voting Power (5)
Ordinary	19.012.549	$\begin{array}{c} \begin{array}{c} \text{if } \text{if } \text{if } \text{if } \text{if } \text{if } \text{if } \text{if }$9.77%--------	15.473.182-----	6.78%
------		-----		--------

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Data of change	Person whoserelevant interestchanged	Nature of change (6)---	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votes affected
Refer toAnnexure A	$-$	-----			---------------------------------------
---	---------------------------------------

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows;

Holder of relevantInterest	Registered holder of !securities	Person entitled to beregistered as holder (8)	Nature of relevant interest(6)---------------------------------------	Class and numberof securities	Person's votes
Refer toAnnexure B	---------------------------------------	,,,,,,,,,,,
-------

603

1. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

________Name and ACN/ARSN (If applicable)	$\overline{\phantom{a}}$-----Nature of association-------------------------------------
Nil	.–THE R. P. LEWIS CO., LANSING.
______________________________________	__--—

1. Addresses

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

.Name------	--------------------------------------__Address
Refer to Annexure C	__________The Committee of the Committee of the Committee------–
_______________________________________	The company of the state of the company$-$The property and contact the con----------------------------------------____________

Signature

-------	print name	Troy Daly		capacity	Head of Compliance
	sign	-----------	_______________________________________here		_______________________________________	----
			.

DIRECTIONS

• If there are a number of substantial holders with similar or rolated relavant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity $(1)$ trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are ossentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 8 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votas in the body corporate or schemo multiplied by 100. $(5)$
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document $(a)$ setting out the torms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • any qualification of the power of a person to exercise, control the exerciso of, or influence the exercise of, the voting powers or disposal of the securities $\langle \mathbf{b} \rangle$ to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any porson from whom a relevant interest was acquired has, or may, become entitled (7) to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest erises because of an option) write "unknown". $\langle 8 \rangle$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

Date of Change	Person Whose RelevantInterest Changed	Nature of Change	Consideration given inrelation to the Change	Class and Number ofSecurities affected	Person's Votes affected
13/02/2009 - 25/05/2011	Pariners (Australia) Limited Purchase of SecuritiesBNP Paribas Investment			23.679.223.05 Ordinary Shares 9.215.205	9,215,205
13/02/2009 - 25/05/2011	Partners (Australia) Limited Sale of SecuritiesBNP Paribas Investment			20,601,669.86 Ordinary Shares 12,173,517	12,173,517

This is Annexure A of 1 page referred to in Form 604 - Notice of Change of Interests of Substantial Shareholder.

Date

27/05/2011

Signed

NameCapacityOrganisation

SYMMI

Troy DalyHead of ComplianceBNP Paribas Investment Partners (Australia) Limited

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ANNEXURE B

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	Registered Holder of	Persons Entitled to be	Nature of Relevant
Holder of Relevant Intereset	Securities	Registered as Holder	Interest	Class and Number of Securities	Person's Votes
Partners (Australia) LimitedBIVP Paribas Investment	Citicorp Norninees Ply Ltd	Citicorp Nominees Pty Ltd	Investment Manager	138,923 ordinary shares	138,923
	BNP Parbas Fund Services	BNP Panbas Fund Services		2,312,868 ordinary shares	2,312,868
	Australasia Pty Ltd	Australasia Pity Ltd
	JP Morgan Nominees	IP Morgan Nominees		870,161 ordinary shares	870,161
	Australia Pty Ltd	Australia Pity Ltd
	State Street Nominees Pty	State Street Nominees Pty Ltd		1,393,302 ordinary shares	1,393,302
	됙
	National Nominees Pty	National Nominees Pty Limited		8,777,961 ordinary shares	8,777,961
	inited
	JBS Nominees Ply Ltd	JBS Nominees Ply Ltd		1,624,130 ordinary shares	1,624,130
	HSBC Custody Nominees	HSBC Custody Nominees		324,003 ordinary shares	324,003
	(Australia) Ltd	Australia) Ltd
	Goldman Sachs (Asia) L.L.C.	Goldman Sachs (Asia) L.L.C.		31,814 ordinary shares	31,814

This is Annexure A of 1 page referred to in Form 604 - Notice of Change of Interests of Substantial Shareholder.

Date

27/05/2011

10513

Signed

NameCapacityOrganisation

Troy DalyHead of CompilanceBNP Paribas Investment Partnars (Australia) Limited

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ANNEXURE B

Address	68th Floor, Cheung Kong Center, 2 Queen's Road, Central, Hong KongLevel 16 Chilley Tower 2 Chilley Square SYDNEY NSW 2000Level 36 AAP Centre 259 George Street Sydney NSW 2000HSBC Centre, 580 George Street, Sydney NSW 200060 Castlereagh Street Sydney NSW 2000500 Bourke Street Melbourne VIC 3000GPO Box 764G Melbourne VIC 3001338 Pitt Street Sydney NSW 2000
Name	ΞBNP Paribas Fund Services Australasia Pty L'HSBC Custody Nominees (Australia) LtdJP Morgan Nominees Australia Ply LtdNational Nominees Ply LimitedState Street Nominees Pty LtdGoldman Sachs (Asia) L.L.C.Xitcorp Nominees Pty LtdJBS Nominees Pty Ltd

This is Annexure B of 1 page referred to in Form 604 - Notice of Change of Interests of Substantial Shareholder.

Date

27/05/2011

Signed

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NameCapacityOrganisation

CYMI

BNP Paribas Investment Partners (Australia) Limited Troy DalyHead of Compliance

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