ELDERS LIMITED — M&A Activity 2006

30 June 2006

Company Announcements Platform Australian Stock Exchange Limited

HATMORE REACHES 88.15% OF ITC

We refer to the off-market bid by Hatmore Pty Ltd, a wholly owned subsidiary of Futuris Corporation Limited ("Hatmore"), for all the issued shares in Integrated Tree Cropping Limited ("ITC", ASX code ITF) dated 26 May 2006.

As at 3:30pm EST today, Hatmore and its associates have a relevant interest in 88.15% of the issued shares in ITC.

The offer is due to close today, Friday, 30 June 2006, at 7:00pm EST.

Michael Sadlon Company Secretary

Level 6, 27 Currie Street, Adelaíde, SA 5000 GPO Box 551 Adelaide SA 5001 Telephone: (08) 8425 4999 Facsimile: (08) 8410 1597 Futuris Corporation Limited A.B.N. 34 004 336 636