Portfolio Update

Intl. Biotechnology Trust PLC
01 February 2008


                                                                 1 February 2008


                         PORTFOLIO COMPANY REVALUATION


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

The Directors' valuation of portfolio holding Trine has been written down today
from £242,000 to £nil following the failure of its remaining drug development
programme. 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 Monday, 4 February 2008.


Enquiries:

Kate Bingham
SV Life Sciences Managers LLP
Investment Manager                                    Tel: [phone]

Louise Richard
Schroder Investment Management Limited                Tel: [phone]




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