FOR IMMEDIATE RELEASE
Elan Corporation, plc Announces Redemption of its Senior Floating Rate Notes Due 2011
DUBLIN , IRELAND , August 17, 2010 – Elan Corporation, plc (“Elan”) (NYSE: ELN) announced today
that it will redeem all of the outstanding Senior Floating Rate Notes due 2011 (the “Notes”) of its wholly owned
subsidiaries, Elan Finance public limited company and Elan Finance Corp. (the “Co-Issuers”), of which $300
million in principal amount is currently outstanding.
The Notes are redeemable at the Co-Issuers’ option at a redemption price equal to 100.000% of the outstanding
principal amount (i.e., $1,000.00 per $1,000 principal amount of the Notes), plus an amount equal to accrued
but unpaid interest to the date of redemption (i.e., from August 15, 2010, the most recent payment date of the
Notes, to the redemption date, interest on the aggregate principal amount of Notes called for redemption will
equal $4.01 per $1,000 principal amount). The redemption is expected to occur on or about September 17,
Elan Corporation, plc is a neuroscience-based biotechnology company focused on discovering and developing
advanced therapies in neurodegeneration and autoimmune diseases, and realizing the potential of its scientific
discoveries to benefit patients and shareholders. The company has two business units: BioNeurology, focused on
Alzheimer’s and Parkinson's diseases and multiple sclerosis; and Elan Drug Technologies (EDT), a leading drug
delivery business, which has over a dozen programs in late-stage development. Elan's marketed products include
TYSABRI®, a treatment for multiple sclerosis and Crohn's disease marketed in collaboration with Biogen Idec,
which has over $1 billion in global sales annually. Elan shares trade on the New York and Irish Stock Exchanges.
For additional information about the company, please visit http://www.elan.com .
Safe Harbor/Forward-Looking Statements
This press release is neither an offer to purchase