Posting of Circular

Finsbury Life Sciences Inv Tst PLC
26 April 2005

                                                                   26 April 2005



                               PRESS ANNOUNCEMENT



      FINSBURY LIFE SCIENCES INVESTMENT TRUST PLC ('FLS' or the 'Company')



Posting of circular to shareholders seeking approval for a change in investment
  objective and policy and the investment management arrangements, release of
  obligation to put forward a continuation vote in 2005, a proposed change of
name, amendment of the Articles of Association and renewal of buy back authority



On 7 April 2005 the Board of FLS announced that it would be writing to
shareholders seeking approval for proposals to change the investment objective
and policy of the Company so as to widen the geographic exposure and to change
the nature of the companies in which FLS invests.



In order to manage the Company's investment portfolio under this broadened
investment remit the Board proposes to appoint OrbiMed Capital LLC in place of
the Company's existing investment advisers.  The Board is also proposing to
change the Company's name to Finsbury Emerging Biotechnology Trust PLC, which
more closely reflects its new objective and to implement an active discount
management policy.



A circular detailing the proposals and convening an Extraordinary General
Meeting for 19 May 2005 to implement the proposals has been sent to shareholders
today, 26 April 2005.





                                    - Ends -





Enquiries:


Alastair Smith                                                                  020 7426 6240
Close Finsbury Asset Management

Richard Ramsay                                                                  020 7653 6300
Intelli Corporate Finance Limited




                      This information is provided by RNS
            The company news service from the London Stock Exchange