Elder Pharmaceutical Form 8 (OPD)


| made for        | 
| Neutrahealth.   | 
| (b) Artemis     | 
| Investment      | 
| Management and  | 
| Nigel and Janet | 
| Hill have each  | 
| irrevocably     | 
| undertaken to   | 
| vote in favour  | 
| of the          | 
| resolutions at  | 
| the Court       | 
| Meeting and the | 
| Special         | 
| Resolution to   | 
| be proposed at  | 
| the General     | 
| Meeting in      | 
| respect of      | 
| their           | 
| beneficial      | 
| holdings of     | 
| Neutrahealth    | 
| Shares in       | 
| aggregate       | 
| amounting to    | 
| 25,896,905      | 
| Neutrahealth    | 
| Shares          | 
| representing    | 
| 19.2 per cent.  | 
| of the          | 
| Neutrahealth    | 
| Shares entitled | 
| to vote at the  | 
| Court Meeting   | 
| and             | 
| approximately   | 
| 14.7 per cent.  | 
| of the          | 
| Neutrahealth    | 
| Shares entitled | 
| to vote on the  | 
| Special         | 
| Resolution.     | 
| Such            | 
| undertakings    | 
| will cease to   | 
| be binding,     | 
| inter alia, in  | 
| the event       | 
| that;(i) a      | 
| recommended     | 
| proposal is     | 
| made for        | 
| Neutrahealth at | 
| an offer price  | 
| which exceeds   | 
| the value of    | 
| the Cash        | 
| Consideration   | 
| by at least     | 
| 10%; and  (ii)  | 
| Elder fails to  | 
| improve the     | 
| terms of the    | 
| Proposals to    | 
| exceed the      | 
| value of the    | 
| offer by such   | 
| third party.    | 
| (c) Axa         | 
| Investment      | 
| Managers UK     | 
| Limited,        | 
| Rathbones       | 
| Investment      | 
| Management      | 
| Limited and     | 
| Williams de     | 
| Broë have each  | 
| provided a      | 
| letter of       | 
| intent to vote  | 
| in favour of    | 
| the resolution  | 
| at the Court    | 
| Meeting and the | 
| Special         | 
| Resolution to   | 
| be proposed at  | 
| the General     | 
| Meeting in      | 
| respect of      | 
| their           | 
| beneficial      | 
| holdings of     | 
| Neutrahealth    | 
| Shares,         | 
| amounting to    | 
| 12,687,376      | 
| Neutrahealth    | 
| Shares in       | 
| aggregate,      | 
| representing    | 
| approximately   | 
| 9.4 per cent of | 
| the             | 
| Neutrahealth    | 
| Shares entitled | 
| to vote at the  | 
| Court Meeting   | 
| and             | 
| approximately   | 
| 7.2 per cent.   | 
| of the          | 
| Neutrahealth    | 
| Shares entitled | 
| to vote on the  | 
| Special         | 
| Resolution.     | 
| The Independent | 
| Directors hold  | 
| options to      | 
| subscribe for   | 
| 11,570,369      | 
| Neutrahealth    | 
| Shares under    | 
| the             | 
| Neutrahealth    | 
| Share Option    | 
| Scheme and have | 
| undertaken to   | 
| exercise such   | 
| options         | 
| following the   | 
| sanction of the | 
| Scheme and      | 
| prior to the    | 
| Effective Date. | 
| Defined terms   | 
| used in this    | 
| Form 8 (OPD)    | 
| announcement    | 
| shall, unless   | 
| the context     | 
| otherwise       | 
| requires, bear  | 
| the meanings    | 
| given to them   | 
| in the Rule 2.5 | 
| announcement    | 
| released in     | 
| respect of the  | 
| offer by Elder  | 
| Pharmaceuticals | 
| Limited.        | 
+-----------------+ 
 
3.         POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER 
MAKING THE DISCLOSURE 
 
+-------------+ 
| Details     | 
| of any      | 
| interests,  | 
| short       | 
| positions   | 
| and rights  | 
| to          | 
| subscribe   | 
| of any      | 
| person      | 
| acting in   | 
| concert     | 
| with the    | 
| party to    | 
| the offer   | 
| making the  | 
| disclosure: | 
+-------------+ 
|             | 
| None        | 
|             | 
+-------------+ 
 
If there are positions or rights to subscribe to disclose in more than one class 
of relevant securities of the offeror or offeree named in 1(c), copy table 3 for 
each additional class of relevant security. 
 
Details of any open derivative or option positions, or agreements to purchase or 
sell relevant securities, should be given on a Supplemental Form 8 (Open 
Positions). 
 
Details of any securities borrowing and lending positions or financial 
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL). 
 
4.         OTHER INFORMATION 
 
(a)        Indemnity and other dealing arrangements 
 
+-----------------+ 
| Details         | 
| of any          | 
| indemnity       | 
| or option       | 
| arrangement,    | 
| or any          | 
| agreement or    | 
| understanding,  | 
| formal or       | 
| informal,       | 
| relating to     | 
| relevant        | 
| securities      | 
| which may be    | 
| an inducement   | 
| to deal or      | 
| refrain from    | 
| dealing         | 
| entered into    | 
| by the party    | 
| to the offer    | 
| making the      | 
| disclosure or   | 
| any person      | 
| acting in       | 
| concert with    | 
| it:             | 
| If there are    | 
| no such         | 
| agreements,     | 
| arrangements    | 
| or              | 
| understandings, | 
| state "none"    | 
+-----------------+ 
|                 | 
| None            | 
|                 | 
+-----------------+ 
 
(b)        Agreements, arrangements or understandings relating to options or 
derivatives 
 
+-----------------+ 
| Details         | 
| of any          | 
| agreement,      | 
| arrangement     | 
| or              | 
| understanding,  | 
| formal or       | 
| informal,       | 
| between the     | 
| party to the    | 
| offer making    | 
| the             | 
| disclosure, or  | 
| any person      | 
| acting in       | 
| concert with    | 
| it, and any     | 
| other person    | 
| relating to:    | 
| (i)  the        | 
| voting rights   | 
| of any          | 
| relevant        | 
| securities      | 
| under any       | 
| option; or      | 
| (ii) the        | 
| voting rights   | 
| or future       | 
| acquisition or  | 
| disposal of     | 
| any relevant    | 
| securities to   | 
| which any       | 
| derivative is   | 
| referenced:     | 
| If there are    | 
| no such         | 
| agreements,     | 
| arrangements    | 
| or              | 
| understandings, | 
| state "none"    | 
+-----------------+ 
|                 | 
| None            | 
|                 | 
+-----------------+ 
 
(c)        Attachments 
 
Are any Supplemental Forms attached? 
 
+--------------+--------+ 
| Supplemental |  NO    | 
| Form 8 (Open |        | 
| Positions)   |        | 
+--------------+--------+ 
| Supplemental |  NO    | 
| Form 8 (SBL) |        | 
+--------------+--------+ 
 
 
+-------------+------------------+ 
| Date        | 16               | 
| of          | September        | 
| disclosure: | 2010             | 
+-------------+------------------+ 
| Contact     | S.P.             | 
| name:       | Date             | 
+-------------+------------------+ 
| Telephone   | +91 22 2673 0058 | 
| number:     |                  | 
+-------------+------------------+ 
 
Public disclosures under Rule 8 of the Code must be made to a Regulatory 
Information Service and must also be emailed to the Takeover Panel at 
monitoring@disclosure.org.uk.  The Panel's Market Surveillance Unit is available 
for consultation in relation to the Code's dealing disclosure requirements on 
+44 (0)20 7638 0129. 
 
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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