Holding(s) in Company

Finsbury Life Sciences Inv Tst PLC
30 December 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company

Finsbury Life Sciences Investment Trust PLC

2. Name of shareholder having a major interest

Merchant Investors Assurance Company Limited

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

As in 2 above

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them

Not stated

5. Number of shares / amount of stock acquired

N/A

6. Percentage of issued class

N/A

7. Number of shares / amount of stock disposed

N/A

8. Percentage of issued class

N/A

9. Class of security

Ordinary shares of 25p each

10. Date of transaction

23 December 2003

11. Date company informed

23 December 2003

12. Total holding following this notification

956,250

13. Total percentage holding of issued class following this notification

3.177%

14. Any additional information

On 23 December 2003 Allianz (UK) Limited sold Merchant Investors Assurance Company Limited to Sanlam
Netherland Holdings BV, the European holding company of the Sanlam Group.

As a result of s203(2) of the Companies Act 1985, Sanlam Netherland Holdings BV and the Sanlam Group are
deemed to be interested in the ordinary 25p shares in which Merchant Investors Assurance Company Limited
are interested.

15. Name of contact and telephone number for queries

Tracey Gower - 020 7426 6219

16. Name and signature of authorised company official responsible for making
this notification

Tracey Gower, for and on behalf of Close Finsbury Asset Management Limited

Date of notification

30 December 2003

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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