Holding(s) in Company

Intl. Biotechnology Trust PLC
27 January 2004

                                                   27 January 2004

                    Substantial Share Interest Notification

We are writing to advise that the Company was notified on 27 January 2004 that
Deutsche Bank AG and its subsidiary companies have a notifiable interest in
3,425,000 ordinary shares of 25p each, representing 7.16% 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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