Portfolio Update

Intl. Biotechnology Trust PLC
02 December 2005


          FOR IMMEDIATE RELEASE
                                                                 02-Nov-05

            To : The London Stock Exchange


International Biotechnology Trust plc


The Board of International Biotechnology Trust plc announces that the top ten
investments as at Wednesday 30 November 2005  were as follows:

            NAME                               % of Gross Assets

            Top 10 Investments
            Aderis Pharmaceuticals                          4.99
            Solexa                                          4.39
            Genosis                                         4.32
            Progenics Pharmaceuticals                       4.15
            Cambridge Antibody Technology                   3.34
            Encysive Pharmaceuticals                        3.13
            Sunesis Pharmaceuticals                         2.93
            Alexion Pharmaceuticals                         2.79
            OSI Pharmaceuticals                             2.72
            Noven Pharmaceuticals                           2.68

By Order of the Board
Schroder Investment Management Limited
Secretaries


Enquiries :

International Biotechnology Trust plc
        Anthony Carney       020 7658 2548


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