Portfolio Update

Intl. Biotechnology Trust PLC
04 September 2006



          FOR IMMEDIATE RELEASE                                     04-Sep-06


            To : The London Stock Exchange


International Biotechnology Trust plc


The Board of International Biotechnology Trust plc announces that the top ten
investments as at Thursday 31 August 2006  were as follows:

                NAME   % of Gross Assets

                Top 10 Investments

                AnorMED                                        4.49
                Progenics Pharmaceuticals                      3.97
                Micromet                                       3.89
                Noven Pharmaceuticals                          3.43
                Shire                                          3.05
                Actelion                                       2.89
                MorphoSys                                      2.84
                Nuvelo                                         2.83
                Jerini                                         2.79
                Barr Pharmaceuticals                           2.78


By Order of the Board
Schroder Investment Management Limited
Secretaries


Enquiries :      
International Biotechnology Trust plc      Terry Croft       020 7658 3953


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