Elan Corporation, plc ("Elan") today announced that its wholly-owned subsidiaries, Elan Finance public limited company and Elan Finance Corp., are commencing a cash tender offer (the “Tender Offer”) for the outstanding US$850 million in aggregate principal amount of their 7 3/4% senior fixed rate notes due 2011 (the “2011 Fixed Rate Notes”). The Tender Offer is being made pursuant to an Offer to Purchase, dated September 29 2009, and related documents (collectively, the “Tender Documents”), which set forth the complete terms and conditions of the Tender Offer, which conditions include a financing condition. The Tender Offer is made only by and pursuant to the terms set forth in the Tender Documents, and the information in this press release is qualified by reference to the Tender Documents. Subject to applicable law, the issuers may amend, extend or terminate the Tender Offer.