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18th October 2004

Elan Dismisses Merger Speculation

DUBLIN, Ireland--(BUSINESS WIRE)--Oct. 18, 2004--In response to a specific Irish Stock Exchange query made today, Elan Corporation, plc advises that it is not in negotiations or discussions with Biogen Idec, Inc. regarding any form of merger or business combination between the two companies.

The company continues to maintain its focus on its core therapeutic areas of neurodegenerative diseases, autoimmune diseases and severe pain, and on delivering value to patients, shareholders and employees.

About Elan

Elan is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing, selling and marketing advanced therapies in neurodegenerative diseases, autoimmune diseases and severe pain. Elan's (NYSE:ELN) shares trade on the New York, London and Dublin Stock Exchanges.

CONTACT: Elan Corporation
Investors
Emer Reynolds, 353-1-709-4000
800-252-3526
or
Media
Anita Kawatra, 212-407-5740
800-252-3526

SOURCE: Elan Corporation



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