Directorate Change

Finsbury Worldwide Pharm Tst PLC
26 February 2004

                  FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC



                        APPOINTMENT OF TWO NEW DIRECTORS



The Board of the Company is delighted to announce the appointment of two new
directors to the Company with effect from 25 February 2004.

Josephine Dixon joins the Board as an independent non-executive director,
Josephine has also been appointed as the Chairman of the Audit Committee due to
her extensive financial experience. Having qualified as a Chartered Accountant
in 1986, Josephine has held a number of high profile financial positions
including Commercial Director to Serco Group PLC, Finance Director to Newcastle
United PLC and various senior positions at NatWest Group. Josephine is also
currently a member of the Durham Business School Advisory Board.

James Noble joins the Board as an independent non-executive director. James has
extensive experience in the biotech industry and is currently CEO of Avidex
Limited, a private biotech company, a non-executive director of Bionex
Investments PLC, an AIM listed healthcare investment company and Oxfordshire
Biotechnet Limited, a private company helping start-up biotech companies. James
was also a member of the UK government committee on funding the UK biotech
industry.

There are no matters to be disclosed under chapters 6F 2(b) to (g) inclusive of
the Listing Rules in respect to either appointee.

Additional Information

On 10 June 1999, the U.S. Securities and Exchange Commission (the 'SEC')
completed an inquiry relating to two press announcements issued in 1995 and 1996
by British Biotech Plc, of which James Noble was previously Chief Financial
Officer. The SEC than filed an administrative complaint that those announcements
and related periodic reports filed with the SEC were inaccurate and omitted to
state material facts necessary to make the statements made therein not
misleading. Under a final settlement reached with the SEC in June 1999, British
Biotech Plc and three of its then directors including Mr. Noble agreed to the
entry of an administrative order to continue to adhere to U.S. securities laws.
The settlement involved no admission or denial by either British Biotech Plc or
the three former directors of the SEC's allegations.



For and on behalf of the Board

Close Finsbury Asset Management Limited

Company Secretary



For further information please contact:

Tracey Gower, Close Finsbury Asset Management Ltd               020 7426 6219

Alastair Smith, Close Finsbury Asset Management Ltd             020 7426 6240

Sir Stuart Burgess, Finsbury Worldwide Pharmaceutical Trust PLC 01494 670 650


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