Holding(s) in Company

TR-1: Notifications of Major Interests in Shares                               

1. Identity of the issuer or the underlying     THE BIOTECH GROWTH TRUST PLC   
issuer of existing shares to which voting                                      
rights are attached:                                                           
                                                                               
2. Reason for notification (yes/no)                                            
                                                                               
An acquisition or disposal of voting rights                                    
                                                                               
An acquisition or disposal of financial instruments which may result           
in the acquisition of shares already issued to which voting rights             
are attached                                                                   
                                                                               
An event changing the breakdown of voting rights                               
                                                                               
Other (please specify):An update in the total voting rights          X         
triggered this notification                                                    
                                                                               
3. Full name of person(s) subject to    EAST RIDING OF YORKSHIRE COUNCIL       
notification obligation:                                                       
                                                                               
4. Full name of shareholder(s) (if      N/A                                    
different from 3):                                                             
                                                                               
5. Date of transaction (and date on     6 MARCH 2009                           
which the threshold is crossed or                                              
reached if different):                                                         
                                                                               
6. Date on which issuer notified:       18 MARCH 2009                          
                                                                               
7. Threshold(s) that is/are crossed or  14%                                    
reached:                                                                       

8: Notified Details 14.33%                                                     
                                                                               
A: Voting rights attached to shares                                            
                                                                               
Class/    Situation previous  Resulting situation after the triggering         
type of   to the triggering   transaction                                      
shares    transaction                                                          
                                                                               
If                                                                             
possible                                                                       
use ISIN                                                                       
code                                                                           
                                                                               
ORDINARY                                                                       

Number of Number of Number of Number of voting   Percentage of                 
shares    voting    shares    rights             voting rights                 
          rights                                                               
7,500,000           7,500,000                                                  
          7,500,000                                                            
                              Direct    Indirect Direct   Indirect             
                                                                               
                              7,500,000 N/A      14.33%   N/A                  
                                                                               

B: Financial Instruments                                                       
                                                                               
Resulting situation after the triggering transaction                           
                                                                               
Type of        Expiration     Exercise/       No. of voting      Percentage of 
financial      date           conversion      rights that may be voting rights 
instrument                    period/date     acquired (if the                 
                                              instrument                       
                                              exercised/                       
                                              converted)                       
                                                                               

Total (A+B)                                                                    
                                                                               
Number of voting rights                 Percentage of voting rights            
                                                                               
7,500,000                               14.33%                                 

9. Chain of controlled undertakings through which the voting rights and /or the
financial instruments are effectively held, if applicable:                     
                                                                               
N/A                                                                            

Proxy Voting:                                                                  
                                                                               
10. Name of proxy holder:                                                      
                                                                               
11. Number of voting rights proxy                                              
holder will cease to hold:                                                     
                                                                               
12. Date on which proxy holder will                                            
cease to hold voting rights:                                                   

13. Additional information:             CALCULATION BASED ON 52,343,413 SHARES 
                                        IN ISSUE                               
                                                                               
14 Contact name:                        CAROLYN JOHNSON                        
                                                                               
15. Contact telephone name:             01482 394147                           

Annex: Notification of major interests in shares                               

A: Identity of the persons or legal entity subject to the notification         
obligation                                                                     
                                                                               
Full name                               EAST RIDING OF YORKSHIRE COUNCIL       
                                                                               
(including legal form of legal                                                 
entities)                                                                      
                                                                               
Contact address                         INVESTMENT SECTION                     
                                                                               
(registered office for legal entities)  PO BOX 164                             
                                                                               
                                        CHURCH STREET                          
                                                                               
                                        GOOLE                                  
                                                                               
                                        DN14 5YZ                               
                                                                               
Phone number & email                    01482 394147                           
                                                                               
Other useful information                CAROLYN JOHNSON                        
                                                                               
(at least legal representative for                                             
legal persons)                                                                 

B: Identity of the notifier, if applicable                                     
                                                                               
Full name                               JULIAN RHYS                            
                                                                               
Contact address                         FROSTROW CAPITAL LLP                   
                                                                               
                                        25 SOUTHAMPTON BUILDINGS               
                                                                               
                                        LONDON                                 
                                                                               
                                        WC2A 1AL                               
                                                                               
Phone number & email                    0203 008 4613                          
                                                                               
                                        [e-mail]               
                                                                               
Other useful information                FROSTROW CAPITAL IS THE COMPANY        
                                        SECRETARY TO THE BIOTECH GROWTH TRUST  
(e.g. functional relationship with the  PLC                                    
person or legal entity subject to the                                          
notification obligation)                                                       

C: Additional information