Elan Responds to Recent Stock Activity - Confirms Consensus Estimates for 2001 -

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Elan Responds to Recent Stock Activity - Confirms Consensus Estimates for 2001 -

    DUBLIN, Ireland, Jan. 28 /PRNewswire-FirstCall/ -- Elan Corporation, plc.
(NYSE: ELN) ("Elan") states that it knows of no reason for the recent decline
of its share price and that it remains comfortable with consensus estimates
for the fourth-quarter and calendar year 2001.  Elan will report
fourth-quarter and full-year 2001 financial results on Monday, February 4,
2002, before the financial markets open.
    In addition, Elan confirms that Donal Geaney, Elan's chairman and chief
executive officer, will be presenting at the Merrill Lynch Global
Pharmaceutical, Device and Biotechnology Conference on Tuesday, February 5,
2002.

    Elan Corporation, plc. is a leading worldwide, fully integrated
biopharmaceutical company headquartered in Ireland, with its principal
research, development, manufacturing and marketing facilities located in
Ireland, the United States and the United Kingdom.  Elan is focused on the
marketing of therapeutic products and services in neurology, pain management,
oncology, infectious disease and dermatology and on the development and
commercialization of products using its extensive range of proprietary drug
delivery technologies.  Elan shares trade on the New York, London and Dublin
Stock Exchanges.

SOURCE Elan Corporation, plc.

http://www.elan.ie
Company News On-Call:

http://www.prnewswire.com/comp/231593.html
CONTACT:
Investors - U.S. - Jack Howarth,
+1-212-407-5740, +1-800-252-3526, or Europe - Emer Reynolds,
+1-353-1-709-4000, +00800-28352600