Holding(s) in Company

Intl. Biotechnology Trust PLC
04 February 2004


                                                                 4 February 2004


                    Substantial Share Interest Notification

We are writing to advise that the Company was notified on 4 February 2004 that
Deutsche Bank AG and its subsidiary companies have a notifiable interest in
4,025,000 ordinary shares of 25p each, representing 8.42% of the 47,815,467
shares in issue.

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Enquiries:

John Spedding

Schroder Investment Management Limited            020 7658 3206






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