Result of AGM

FINSBURY EMERGING BIOTECHNOLOGY TRUST PLC                   

                              Results of the AGM                               

The Company announces that the following resolutions were passed at the Annual
General Meeting of the Company held on Wednesday, 25th July 2007. The numbers
of votes received by proxy are shown below.

Resolutions             Votes For  %      Votes   %    Total      Votes    
                                          Against      Votes Cast          
                                                                  Withheld*
                                                                           
Ordinary Resolutions                                                       
                                                                           
 1. To receive and      31,260,179 100.00 0       0.00 31,260,179 1,302,099
    consider the                                                           
    audited accounts                                                       
    and the Report of                                                      
    the Directors for                                                      
    the year ended 31                                                      
    March 2007.                                                            
                                                                           
 2. To re-elect Mr Paul 31,219,833 99.87  39,688  0.13 31,259,521 1,302,757
    Gaunt as a Director                                                    
    of the Company.                                                        
                                                                           
 3. To re-elect Dr John 31,231,668 99.91  29,086  0.09 31,260,754 1,301,524
    Gordon as a                                                            
    Director of the                                                        
    Company.                                                               
                                                                           
 4. To re-elect Mr John 31,224,645 99.89  32,860  0.11 31,257,505 1,304,773
    Sclater as a                                                           
    Director of the                                                        
    Company.                                                               
                                                                           
 5. To re-elect Mr      31,224,413 99.91  29,086  0.09 31,253,499 1,308,779
    Anthony Townsend as                                                    
    a Director of the                                                      
    Company.                                                               
                                                                           
 6. To re-elect Mr      31,227,413 99.91  29,567  0.09 31,256,980 1,305,298
    Peter Keen as a                                                        
    Director of the                                                        
    Company.                                                               
                                                                           
 7. To re-elect Mr Sven 31,230,416 99.92  25,367  0.08 31,255,783 1,306,495
    Borho as a Director                                                    
    of the Company.                                                        
                                                                           
 8. To re-elect Lord    31,230,465 99.91  29,092  0.09 31,259,557 1,302,721
    Waldegrave of North                                                    
    Hill as a Director                                                     
    of the Company.                                                        
                                                                           
 9. To re-appoint       32,541,509 99.95  15,187  0.05 32,556,696 5,582    
    Robson Rhodes LLP                                                      
    as auditors and to                                                     
    authorise the                                                          
    Directors to                                                           
    determine their                                                        
    remuneration.                                                          
                                                                           
10. To approve the      32,514,041 99.89  34,671  0.11 32,548,712 13,566   
    Directors'                                                             
    Remuneration                                                           
    Report.                                                                
                                                                           
Special Business                                                           
                                                                           
11. That the Company be 32,528,311 99.93  23,146  0.07 32,551,457 10,821   
authorised to use                                                          
electronic means to                                                        
communicate with                                                           
members.                                                                   
                                                                           
12. To authorise the    32,535,515 99.94  20,206  0.06 32,555,721 6,557    
Directors to allot                                                         
securities in the                                                          
Company.                                                                   
                                                                           
13. To disapply the     32,539,733 99.94  20,773  0.06 32,560,506 1,772    
rights of pre-emption                                                      
in relation to the                                                         
allotment of securities                                                    
contained in section 89                                                    
of the Companies Act                                                       
1985. (Special                                                             
Resolution).                                                               
                                                                           
14. To authorise the    32,545,753 99.95  15,950  0.05 32,561,703 575      
Company to make market                                                     
purchases of Ordinary                                                      
shares in the Company.                                                     
(Special Resolution).                                                      
                                                                           
15.That the name of the 32,552,418 99.97  9,285   0.03 32,561,703 575      
Company be changed to                                                      
The Biotech Growth                                                         
Trust PLC. (Special                                                        
Resolution).                                                               

* Please note that `Vote withheld' is not a vote in law and is not counted in
the calculation of the proportion of votes `For' and `Against `a resolution.

                                    - ENDS-                                    

25TH July 2007

Frostrow Capital LLP

Secretary

For further information please contact:

Mark Pope Frostrow Capital LLP -        020 3 008   
          Company Secretary             4913        

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