Exercise of Warrants

Finsbury Worldwide Pharm Tst PLC
02 August 2005


                 FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC

                               2 AUGUST 2005


Exercise of Warrants

Finsbury Worldwide Pharmaceutical Trust PLC (the 'Company') announces that
following receipt of notices to exercise Warrants at an exercise price of 464p
on the exercise date of 1 August 2005, the Company has allotted and issued as
fully paid 101,082 new Ordinary shares in the Company under its General Block
Listing facility.

Following allotment, the issued share capital of the Company will be 54,692,576
Ordinary shares and 10,806,098 Warrants.

The outstanding Warrants are exercisable on 31 July* in each of the years 2006
to 2009 inclusive at an exercise price of 464p.  Warrant Exercise Notices shall
be sent to all Warrant holders prior to commencement of the exercise period of
28 days prior to each exercise date.

As at the close of 1 August 2005, the fully diluted Net Asset Value per Ordinary
share was 508.47p per share, the mid market share price per Ordinary share was
518.50p and the mid market Warrant price was 109.00p.

*or if such day is not a business day, then on the next business day


                                    - Ends -

For further information, please contact:

Tracey Lago          Close Finsbury Asset Management Limited      020 7426 6219
Alastair Smith       Close Finsbury Asset Management Limited      020 7426 6240


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