10 Largest Holdings

Finsbury Life Sciences Inv Tst PLC
27 September 2000

10 Largest Holdings

22 September 2000

At this date, the 10 largest holdings of Finsbury Life Sciences Investment Trust
PLC were as follows:

                              Market value (£'000)  Percentage of portfolio

Merlin Fund                              5,239                    9.1%
Shire Pharmaceutical                     4,880                    8.4%
Celltech Group                           3,629                    6.3%
Teva Pharmaceutical Industries           3,444                    6.0%
Aortech                                  3,020                    5.2%
Cambridge Antibody Tech Grp              2,983                    5.1%
Alizyme                                  2,454                    4.2%
Biacore International                    1,935                    3.4%
Gyrus Group                              1,913                    3.3%
Zeltia                                   1,766                    3.1%
Total of ten largest investments        31,263                   54.1%
Other investments                       26,517                   45.9%
Total investments                       57,780                  100.00%