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Distributed: May 11, 2009

Starpharma Holdings Limited's (ASX:SPL) Deal With Elanco Triggers a Share Purchase Plan Extension

WWW:www.starpharma.com
(ABN) Company Overview

Starpharma Holdings Limited (ASX:SPL)

Melbourne, May 11, 2009 (ABN Newswire) - The Board of Starpharma Holdings Limited (ASX:SPL)(PINK:SPHRY) has decided to further extend the closing date of the share purchase plan (SPP) due to the Elanco Agreement announcement made today.

Starpharma has already received SPP acceptances in excess of A$1.1 million, with the SPP due to close on Wednesday, 13 May 2009. The SPP will now close at 5.00 pm (AEST) on Friday, 15 May 2009.

The extension is intended to provide eligible shareholders* with the opportunity to consider the Elanco announcement and the significance of this partnership, and in view of the existing closing date, to provide sufficient time to respond.

No action is required to be taken by shareholders who have already made application for shares under the SPP. However if you wish to increase your participation, promptly telephone either Computershare on 1300 507 903 or Starpharma on +61 3 8532 2704.

The other terms of the SPP, including the price of A$0.26 per share and the maximum application value of A$10,000 per shareholder, remain as set out in the offer document mailed to shareholders on 23 April 2009. The revised timetable of key dates for the SPP is now as follows (all times are AEST):

-----------------------------------------------
Record Date                       7  April 2009
Opening Date                      23 April 2009
Closing Date                      15 May   2009
Allotment of Shares               22 May   2009
Trading of New Shares
expected to commence on ASX       25 May   2009
Holding statements expected
to be dispatched to shareholders  27 May   2009
-----------------------------------------------

*As previously advised, Australian and New Zealand registered shareholders who held shares at 7.00 pm (AEST) on the record date of 7 April 2009 are eligible to participate in the Share Purchase Plan.

About Starpharma Holdings Limited

Starpharma Holdings Limited (ASX:SPL, OTCQX:SPHRY) is a world leader in the development of dendrimer nanotechnology for pharmaceutical, life-science and other applications. SPL is principally composed of two operating companies, Starpharma Pty Ltd in Melbourne, Australia and Dendritic Nanotechnologies, Inc in Michigan, USA. Products based on SPL's dendrimer technology are already on the market in the form of diagnostic elements and laboratory reagents.

The Company's lead pharmaceutical development product is VivaGel(R) (SPL7013 Gel), a vaginal microbicide designed to prevent the transmission of STIs, including HIV and genital herpes.

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