Elan Announces Publication of EGM Circular Discussing Proposed Demerger of Neotope Business

Elan Corporation

today announced the publication and filing of a circular to shareholders convening an extraordinary general meeting (“EGM”) to be held in the Davenport Hotel, 8/10 Merrion Street Lower, Dublin 2, Ireland at 10.00 a.m. on Wednesday, December 12, 2012 at which a resolution in connection with the proposed demerger of Elan's Neotope business (now referred to as the Prothena Business), originally announced on August 13, 2012, will be considered and voted on. As previously announced, and assuming the necessary preconditions are fulfilled, including an affirmative vote of the Elan shareholders at the EGM, the Prothena business which comprises a substantial portion of Elan's drug discovery business platform, will be separated into another