Elan Corporation PLC

Elan Corporation, plc (NYSE:ELN) ("Elan") today announced the completion of the
sale of its four pain products and related assets to aaiPharma Inc.
(NASDAQ:AAII) ("aaiPharma"). These products include the rights to Roxicodone(TM)
(oxycodone hydrochloride) tablets and oral solution, Oramorph(TM) SR (morphine
sulfate sustained-release) tablets, Roxanol(TM) (morphine sulfate) and
Duraclon(TM) (clonidine hydrochloride injection). Elan has realised total
consideration of $101.8 million, comprising a cash payment to Elan of $50.4
million and the assumption, by aaiPharma, of $51.4 million of Elan's product
related payments.

About Elan

Elan is focused on the discovery, development, manufacturing, sale and marketing
of novel therapeutic products in neurology, severe pain and autoimmune diseases.
Elan shares trade on the New York, London and Dublin Stock Exchanges