Portfolio Company/NAV

Intl. Biotechnology Trust PLC
11 June 2007





                     International Biotechnology Trust plc


               PORTFOLIO COMPANY VALUATION CHANGE/NET ASSET VALUE


The Board of International Biotechnology Trust plc (the 'Company') notes the
following change to the value of unquoted portfolio company Archemix:

The Directors' valuation of the holding in Archemix has been increased today
from £0.86m ($1.7m) to £1.12m ($2.2m) to reflect the company's progress in
developing its products, a series of collaborative deals with big pharma it has
negotiated over the past year including the deal announced today with Merck
(Ticker: MRK), and the business's cash position. This valuation change will be
incorporated into the net asset value of the Company from today and reflected in
the Company's net asset value announcements with effect from tomorrow, 12 June
2007.

The unaudited net asset value per share, including the deficit on the current
year revenue, as at Friday 8 June 2007 was as follows:

          Ordinary share:               155.37 pence





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Enquiries:

Andy Smith

SV Life Sciences Managers LLP

Investment Manager Tel: [phone]

Louise Richard

Schroder Investment Management Limited Tel: [phone]


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