Final Results

Finsbury Worldwide Pharm Tst PLC
21 June 2001



NEWS RELEASE 

To:     City Editors     For immediate release
        Thursday 21 June 2001

                        Another very successful year for
                   FinsburyWorldwide Pharmaceutical Trust PLC

Finsbury Worldwide Pharmaceutical Trust PLC today announces preliminary
results for the year ended 31 March 2001 which showed a 19.1% increase in net
asset value per share.

                                                                              
  Financial Highlights                     Year ended      Year ended        %
                                        31 March 2001   31 March 2000   change
                                          (unaudited)      (audited)*         

  Total Assets(i)                             £238.1m         £193.2m     23.2
  Shareholders' Funds                         £202.3m         £169.9m     19.1
  Net asset value per share                    523.6p          439.6p     19.1
  Share price                                  495.5p          349.0p     42.0
  Discount/(premium)                             5.4%           20.6%        -
  Datastream Pharmaceuctical                  7,754.3         6,761.2     14.7
  Index (total return, sterling                                               
  adjusted)                                                                   

*  restated for change in accounting policy (see note 2) 
* (i) net asset gross of bank loans/overdrafts 

Net asset value per share         As at
                                  18 June 2001
                                 (unaudited)
                                  608.1p

Chairman, Sir Stuart Burgess, commented:

'This has been yet another very successful year for the Company. The net
asset value per share increased by 19.1% over the year compared with an
increase of 14.7% in the Company's benchmark index, the Datastream Worldwide
Pharmaceutical Index (sterling adjusted). This strong performance was
reflected in the share price which rose 42% over the year.'

The Directors are proposing a final dividend of 2.0p (2000: 0.4p) per
Ordinary share, payable on 17 August 2001 to equity shareholders on the
register of members at the close of business on 29 June 2001.

                                  - ENDS -

The following are attached:

* Chairman's Statement
* Statement of Total Return
* Balance Sheet for the Company
* Cash Flow Statement
* Notes

For further information please contact:-

Alastair Smith         Close Finsbury Asset Management Limited   020 7426 6240
Fiona Harris           Quill Communications                      020 7618 8905
Sir Stuart Burgess     Chairman                                   01494 431579

FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC
2001 Chairman's Statement

Chairman's Statement 

Performance

This has been another very successful year for the Company, building on the
outstanding performance of the previous year and maintaining the unbroken
sequence of annual increases in net asset value per share since the Company's
formation.

The net asset value per share grew by 19.1% over the year exceeding the 14.7%
increase in the Company's benchmark index, the Datastream Worldwide
Pharmaceutical Index (sterling adjusted). This strong performance was
reflected in the share price which rose 42% over the year and for most of the
period the shares traded close to the net asset value.

There has been a further increase of 16% in the net asset value per share
since the end of the year. As at
18 June 2001 the figure was 608.1p and the share price premium to net asset
value was approximately 1%.

The Company aims to provide investors with capital growth through investment
in a mix of large pharmaceutical and smaller specialty biotechnology
companies. The portfolio's investment in large pharmaceutical companies has
been the major contributor to the performance during the year, with specialty
companies contributing positively.

The continued excellent performance has again triggered the performance
agreements with the Investment Adviser and Manager. The Board believes that
these agreements continue to provide a powerful incentive towards exceptional
performance and are in the best interests of shareholders. The Board is
pleased to be able to pay the performance fees, detailed in the Company's
financial statements and accrued at 31 March 2000.

To reflect the growth in the capital value of pharmaceutical companies in the
last few years, the Board has decided to change the definition of large
capitalisation companies in the portfolio from over US$3billion in size to
over US$5billion in size.

Gearing

As reported at the interim stage, the Company has increased its borrowing
facility to £50m. At the year end £36m had been drawn down and the remainder
has been drawn down since then. We took advantage of market conditions in
February and March to increase our investments and net asset value continues
to benefit from the Company's gearing.

Marketing

The Board feels that the attractive investment opportunities provided by the
Trust should be widely publicised to suitable clients. During the year we
have continued our targeted shareholder relations programme and have promoted
the Company to institutional shareholders and discretionary private client
managers. This continued programme, together with the continued excellent
investment performance, has resulted in an encouraging broadening of the
Company's shareholder base and has materially contributed to the increase in
the share price.

The Board also supports the general marketing programmes undertaken by our
Manager and the AITC and has authorised a contribution to the AITC 'its'
campaign for 2001.

Outlook

Pharmaceutical and biotechnology stocks, in common with stocks in general,
were affected by the market downturn experienced in the early part of 2001.
However, since then they have recovered well and the Board continues to
believe that the combination of pharmaceutical and biotechnology sectors
offered by the Trust will remain an attractive area for investment.

Revenue and Dividends

Total revenue for the year rose to just over £1.9m (2000: £0.77m) and your
Board is proposing a final dividend of 2.0p per share (2000:0.4p) which will
maintain the Company's investment trust status. This dividend will, subject
to shareholders approval, be payable on 17 August 2001 to shareholders on the
register on 29 June 2001.

Annual General Meeting

At last year's Annual General Meeting resolutions were passed to enable the
Company to buy-back its own shares as well as to issue new shares when
appropriate. Similar resolutions will be proposed at the forthcoming Annual
General Meeting.

The Annual General Meeting of the Company will be held at the offices of
Close Finsbury Asset Management Limited on 9 August 2001. I do hope as many
shareholders as possible will attend. This will be an opportunity not just to
meet with the Board but also to hear from the investment adviser, Mr Samuel D
Isaly.

Sir Stuart Burgess Chairman 
21 June 2001

                                                                              
  Finsbury Worldwide Pharmaceutical Trust PLC                                   
              

  Statement of Total Return                                                     
          
  Incorporating the revenue account for the year ended 31 March             
                                                                       
                                                         Restated*            
                  Revenue  Capital   Total     Revenue   Capital       Total    
                            2001      2001       2000       2000        2000    

                  2001     £'000     £'000      £'000      £'000       £'000    
                  £'000                                                       
  Gains on        -        38,765    38,765    -         101,684     101,684  
  investments                                                                 

  Exchange        -        (1,461)   (1,461)   -             (88)        (88)   
  (losses) on                                                                 
  currency                                                                    
  balances                                                                    

  Income          1,856    -         1,856       767          -          767    

  Investment      -        (3,388)  (3,388)    -         (14,844)    (14,844) 
  management                                                                  
  and                                                                         
  performance                                                                 
  fees                                                                        

  Other expenses   (532)     (366)    (898)     (430)     (1,092)     (1,522)  

  Net return      1,324    33,550   34,874       337      85,660      85,997   
  before                                                                      
  finance costs                                                               
  and taxation                                                                

  Interest        -        (1,414)  (1,414)    -           (284)       (284)    
  payable and                                                                 
  similar                                                                     
  charges                                                                     

  Return on       1,324    32,136   33,460       337     85,376      85,713   
  ordinary                                                                    
  activities                                                                  
  before                                                                      
  taxation                                                                    

  Taxation on     (368)       153     (215)     (180)        97         (83)    

  ordinary                                                                    
  activities                                                                  

  Return on        956     32,289    33,245      157     85,473      85,630   
  ordinary                                                                    
  activities                                                                  
  after taxation                                                              

  Dividends on    (773)    -           (773)    (155)     -           (155)    
  ordinary                                                                    
  shares                                                                      
  (equity)                                                                    

  Transfer to      183     32,289     32,472       2     85,473      85,475   
  reserves                                                                    

  Return per      2.5p      83.6p      86.1p     0.4p    214.2p      214.6p   
  ordinary                                                                    
  share - pence                                                               

* restated for change in accounting policy (see note 2)

                                                                         
Finsbury Worldwide Pharmaceutical Trust PLC                       

Balance Sheet                                                     

As at 31 March                                                    
                                                        2001       2000     
                                                       £'000      £'000    
       Fixed asset investments                       252,836    199,626  
       Current assets                                                    
       Debtors                                           275        180      
       Cash at bank                                    2,731     14,255   
                                                       3,006     14,435   
       Creditors                                                         
       Amounts falling due within one year           (53,516)   (44,207) 
       Net current liabilities                       (50,510)   (29,772) 
       Net assets                                    202,326    169,854  
       Capital and reserves                                              
       Share capital                                   9,660      9,660    
       Share premium account                          43,143     43,143   
       Capital reserve - realised                     76,793     43,645   
       Capital reserve - unrealised                   72,154     73,013   
       Capital redemption reserve                        375        375      
       Revenue reserve                                   201         18       
       Total equity shareholders' funds              202,326    169,854  
       Net asset value per Ordinary share             523.6p     439.6p   
                                                                         
       Finsbury Worldwide Pharmaceutical Trust PLC                       
       Cash Flow Statement                                               
       For the year ended 31 March                                       
                                                       2001       2000     
                                                      £'000      £'000    

       Net cash outflow from operating activities    (3,774)     (856)    
       Servicing of finance                                              
       Interest paid                                 (1,540)      (73)     
       Taxation                                                          
       Taxation paid                                   (103)      -        
       Financial investments                                             
       Purchases of investments                     (83,592)   (85,379) 
       Sales of investments                          66,711     78,227   
                                                    (16,881)    (7,152)  
       Equity dividends paid                           (155)      (161)    
       Net cash outflow before financing             (22,453)   (8,242)  
       Financing                                                         
       Increase in short term loans                   13,144     22,641   
       Repurchase of Ordinary shares                  -          (2,372)  
       Net cash inflow from financing                13,144      20,269   
       (Decrease)/increase in cash for the year      (9,309)     12,027   

Notes: 

1. These accounts are not statutory accounts as defined by section 240 of the
   Companies Act 1985. Statutory accounts for the 12 months ended 31 March 2000
   have been delivered to the Registrar of Companies and received an audit
   report which was unqualified and did not contain statements under Section 237
   (2) and (3) of the Companies Act 1985. Statutory accounts for the 12 months
   ended 31 March 2001 will be delivered to the Registrar of Companies.

2. The accounts have been prepared under the same accounting policies as the
   accounts for the year ended 31 March 2000 with the exception of the          
   following;

   i)     In accordance with Financial Standard 16, Current Taxation ('FR16')
          investment income is shown net of all related tax credits. In         
          addition, 'avoir fiscal' on French dividends is now classed as a tax  
          credit and not a witholding tax and as such reduces the tax charge    
          rather than increasing income. The comparative figures for the year   
          ended 31 March 2000 have been restated accordingly.

Close Finsbury Asset Management Limited - Secretary

21 June 2001