Holding(s) in Company

Intl. Biotechnology Trust PLC
30 May 2003


                                                                     30 May 2003

                    Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 30 May 2003, that
the Co-operative Insurance Society Limited holds as beneficial owner the total
of funds under management of 5,636,467 ordinary shares of 25p each, representing
11.71% of the 48,115,467 ordinary shares in issue.


Enquiries:

John Spedding

Schroder Investment Management Limited          Tel: [phone]


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