43AI Rolls-r 24

RNS No 4439e
ELAN CORPORATION PLC
21st October 1997


         ELAN CORPORATION, PLC SUBSIDIARY TO REDEEM OUTSTANDING LYONs         

DUBLIN, IRELAND, October 21, 1997 - - Elan International Finance, Ltd.
("EIF"), a wholly-owned subsidiary of Elan Corporation, plc (NYSE:  ELN)
("Elan"), today announced its intention to redeem all its Liquid Yield Option
Notes due 2012 ("LYONs") which remain outstanding.  Notices will be mailed to
all holders of the LYONs on October 31, 1997, informing them that the LYONs
will be redeemed on November 30, 1997 at a redemption price of $430.31 per
$1,000 principal amount at maturity of LYONs.

The notice will also inform holders of their right to exchange their LYONs for
Elan ADSs at an exchange rate of 21.772 ADSs per $1,000 principal amount at
maturity of LYONs at any time prior to the close of business on the date of
redemption.

Elan is a leading worldwide drug delivery and biopharmaceutical company with
its principal research and manufacturing facilities in Ireland, the United
States and Israel. Elans shares trade on the New York, London and Dublin Stock
Exchanges.

Contact:
Mary Bingham
Director - Investor Relations
Ph:  212-755-3218


END

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