“€35 million investment to create 120 new jobs” - Tánaiste.

Elan to expand Athlone facility as a key part of its future global business.

Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney T.D., announced today (Monday 14th June 2004) that Elan Corporation, Plc. is to establish a new sterile biopharmaceuticals plant at its Athlone, Co. Roscommon, facility which will create 120 new jobs over the next five years in supervisory, quality control, engineering, laboratory and operative areas.

This €35 million investment is supported by IDA Ireland.

Elan is a biopharmaceutical company and is engaged in the research and development of innovative drugs for a range of diseases. The investment is the result of Elan’s concentration in its new corporate strategy to refocus the company towards biopharmaceuticals.

Making the announcement the Tánaiste said: "The decision to locate this facility in Athlone underlines once again Ireland’s continued competitiveness and our attraction as a location for investment. The new employment opportunities represent welcome news for the Midlands and the surrounding area. We have secured a major biopharmaceuticals manufacturing presence in a regional location and I congratulate the Irish management team for their success in ensuring that this investment will take place in Athlone.”

“I hope this is just a taster of more good news to come. Other important investments invovling major overseas corporations are in the pipeline and I expect to be in a position to make announcements in regard to these matters over the coming weeks,” the Tánaiste added.

Mr. Paul Breen, Executive Vice President and Head of Global Services & Operations, Elan, said “We are very pleased with this major investment in the Athlone facility. Together with a further US $178 million investment by Elan in the past few years, this site is now a key part of Elan’s overall business strategy. Elan has a long and proud history in Athlone and with this investment we look forward to continuing our presence here.”

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Notes for Editors

Elan’s Athlone facility, which is part of its Global Services and Operations (GS&O) group, currently employs 438 people, and is involved in product development, optimisation and manufacture of pharmaceutical products for Elan and third parties.

Elan has a long and established history in the manufacture and development of pharmaceutical dosage forms for pharmaceutical markets worldwide, with dozens of products successfully launched in more than 40 countries in North America, Asia and Europe. Elan’s GS&O group is focused on providing superior technology platforms that can offer innovative, high value, quality technologies to address the drug delivery challenges of the pharmaceutical industry.

The primary purpose of the new biopharmaceutical plant’s will be the sterile filling of biologics and peptides. The new plant is expected to enable the fill-finish and eventual manufacture of biopharmaceutical products for Elan and third parties. These investments in the Athlone facility will maintain its stature as a key part of the company’s future global business.

Elan’s late stage pipeline includes Antegren™, which is currently under investigation for the treatment of multiple sclerosis (MS), Crohn’s disease and rheumatoid arthritis. Antegren is in late stage clinical trials for MS and Crohn’s disease, and has been submitted to the European Medicines Agency and to the U.S. Food and Drug Administration for approval in the treatment of MS. The filing for Crohn's in Europe is expected by the end of 2004. Elan also expects to file its investigational treatment Prialt™ for severe pain in the US this year; it was filed in Europe last year.

Elan Corporation, plc is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing and marketing advanced therapies in neurology, autoimmune diseases, and severe pain. Elan (NYSE: ELN; Dublin ELN.1) shares trade on the New York, London and Dublin Stock Exchanges.

For additional information about the company, please visit http://www.elan.com.

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