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ELAN FILES SECONDARY PUBLIC OFFERING

 ATHLONE, Ireland, Jan. 7 /PRNewswire/ -- Elan Corporation plc. (AMEX: ELN) today announced that it has filed a registration statement with the Securities and Exchange Commission on behalf of certain selling shareholders, registering 1.4 million American Depositary Shares, each representing one ordinary share, par value 4 Irish pence, under the Securities Act of 1933, as amended, for sale to the public by such shareholders.
 One of the selling shareholders is Fountainhead Holdings (Bermuda) Ltd., a corporation the beneficial owners of which are certain family members of Elan's chairman and chief executive officer, Donald E. Panoz. Fountainhead is proposing to sell 1,376,206 American Depositary Shares and has granted the underwriters an option to purchase up to an additional 210,000 American Depositary Shares to cover over-allotments.
 Merrill Lynch & Co. and Prudential Securities are co-managers of the offering.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration becomes effective. This shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Written prospectuses may be obtained from Merrill Lynch & Co., World Financial Center, North Tower, New York, NY 10281 - Attention: Preliminary Prospectus Department, 212-449-8415, or Prudential Securities Inc., Prudential Securities Building, One Seaport Plaza, New York, NY 10292.
 Elan Corporation plc. is a world leader in the specialized health care field of advanced reformulations and drug delivery, concentrating on improved drug absorption and utilization. Elan operates research and manufacturing facilities in Athlone; Gainesville, Ga.; Brea, Calif.; and Cambridge, Mass., in the United States; Enschede, Netherlands; Manila, Philippines; and Mezzovico, Switzerland. Currently 20 Elan products have received regulatory approval for marketing in one or more of 38 countries worldwide.
 -0- 1/7/93
 /CONTACT: Brian Crotty, vice president-communications, 800-252-3526, or Donald Panoz, chairman and CEO, in Ireland, 011-353-902-94666, both of Elan; or Debra Wasser or Pen Pendleton of Dewe Rogerson, in New York, 212-688-6840, for Elan/
 (ELN)


CO: Elan Corporation plc. ST: IN: MTC SU: OFR

GK-TS -- NY081 -- 2804 01/07/93 16:34 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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