36PU Elan Inst Nts40

RNS Number:1104S
E.L.A.N. Ld
10 April 2008

For Immediate Release

                                                                   10 April 2008

                              IRISH STOCK EXCHANGE



                              COMPANY ANNOUNCEMENT

                        E.L.A.N. LIMITED (the "Issuer")
                                                  Series 2001-1

                EUR56,890,000 Secured Instalment Notes due 23 November 2040 (ISIN: XS0122960882)
                                                  Series 2001-4

                     USD20,000,000 Secured Floating Rate Credit Linked Notes due April 2011
                                              (ISIN: XS0127198330)
                                                  Series 2001-8

                   USD7,500,000 Secured CDO Linked Notes due August 2013 (ISIN: XS0133524453)
                                                 Series 2001-10

                   USD8,000,000 Secured CDO Linked Notes due August 2013 (ISIN: XS0133634559)
                                                 Series 2001-13

                   USD2,500,000 Secured CDO Linked Notes due August 2013 (ISIN: XS0134489730)
                                                 Series 2001-27

                  USD8,900,000 Secured CDO Linked Notes due December 2013 (ISIN: XS0139768724)
                                                 Series 2001-29

                  EUR5,590,965 Secured CDO Linked Notes due September 2016 (ISIN: XS0140155150)
                                             Series 2002-16 (Fitch)

                     USD986,400,000 Class A Amortising Secured Floating Rate Notes due 2012
                                              (ISIN: XS0152045910)

                 USD85,000,000 Class B Secured Floating Rate Notes due 2012 (ISIN: XS0152046305)

                      USD2,500,000 Class C Amortising Secured Floating Rate Notes due 2012
                                              (ISIN: XS0152047295)


                            (together, the "Notes")

          Notice of amendment to the terms and conditions of the Notes


NOTICE IS HEREBY GIVEN that, with effect from 12 March 2008, the terms and
conditions of the Notes set out in each related Pricing Supplement or Applicable
Supplement, as the case may be, have been amended by the addition of the
following special condition:

"Issuer Repurchase Option

The Issuer may, provided that no Event of Default or Mandatory Redemption Event
has occurred and is continuing, agree to purchase Notes (or any of them) at any
time after consultation with the counterparty as to the unwind costs of each
Relevant Agreement (if any). For the avoidance of doubt, the Issuer is under no
obligation whatsoever to exercise its repurchase option at any time.

Upon a repurchase of the Notes, the Notes will be cancelled, a face amount of
Collateral which is proportional to the face amount of the Notes to be
repurchased shall be liquidated and a pro rata portion of each Relevant
Agreement (if any) will be terminated.

For the purposes of this Special Condition, "Relevant Agreement" shall mean any
swap agreement and/or option agreement and/or any other derivatives contract
entered into by the Issuer in connection with the issue of the Notes."


Enquiries:                                           Elaine O'Donoghue

                                                     Administrator

                                                     Ogier Corporate Services (Ireland) Limited



                                                     Tel: 00 353 (0) 1 775 2613



                                                     Email: Elaine.Toner@ogier.ie



This announcement has been issued through the Companies Announcement Service of

                           The Irish Stock Exchange.








                      This information is provided by RNS
            The company news service from the London Stock Exchange
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