Warrant Dealing Facility

Finsbury Worldwide Pharm Tst PLC
20 December 2004


FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC

20 December 2004

Warrant Dealing Facility

Further to the announcement by Finsbury Worldwide Pharmaceutical Trust PLC (the
'Company') on 19 November 2004 relating to, inter alia, the issue to qualifying
shareholders in the Company of warrants to subscribe for ordinary shares in the
Company ('Warrants') and the arrangement of a dealing facility through Close
Brothers Securities to provide those qualifying shareholders unable to, or
deciding against, retaining their Warrants with the ability to sell them (the '
Warrant Dealing Facility'), the Board announces that 1,886,389 Warrants have
been allotted to qualifying shareholders electing to sell their Warrants and
that Close Brothers Securities has agreed to buy all such Warrants at a price of
80p per Warrant. Following this issue, the Company will have 10,907,180 Warrants
in issue.

It is expected that in respect of sale proceeds from the Warrant Dealing
Facility payments will be made in CREST and cheques will be despatched to
non-CREST holders no later than 24 December 2004.  However, shareholders will
not be entitled to any proceeds from the disposal of their Warrants if the
proceeds in respect of their holding are under £3.00, with such proceeds being
retained for the benefit of the Company.

Enquiries

  Alastair Smith
  Close Finsbury Asset Management Limited                  Tel: [phone]

  Nathan Brown
  Close Brothers Securities                                Tel: [phone]


Notes

Close Brothers Securities, a division of Winterflood Securities Limited which is
authorised and regulated in the United Kingdom by the Financial Services
Authority, is acting for Finsbury Worldwide Pharmaceutical Trust PLC (the '
Company') in relation to the Proposals (as defined in the prospectus issued by
the Company dated 19 November 2004) and for no other person and will not be
responsible to any other person other than the Company for providing the
protections offered to customers of Close Brothers Securities or for providing
advice in relation to the Proposals.  Shareholders should note than Close
Brothers Securities is not acting for them in respect of the Warrant Dealing
Facility and will not regard them as its customer or be responsible to them for
providing the protections offered to customers of Close Brothers Securities or
for providing advice in relation to the Warrant Dealing Facility.


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