Holding(s) in Company

For filings with the FSA include the annex

For filings with issuer exclude the annex


TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the           Biotech Growth Trust Plc (The)
underlying issuer of existing shares to
which voting rights are attached:

2. Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights                     Yes

An acquisition or disposal of qualifying financial
instruments which may result in the acquisition of
shares already issued to which voting rights are
attached

An acquisition or disposal of instruments with similar
economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):
 
3. Full name of person(s) subject to the      Baillie Gifford & Co
notification obligation:
 
4. Full name of shareholder(s) (if
different from 3.):
 
5. Date of the transaction and date on             31 Dec 2012
which the threshold is crossed or reached:
 
6. Date on which issuer notified:                  2 Jan 2012
 
7. Threshold(s) that is/are crossed or                 10%
reached:
 

8. Notified details:

A: Voting rights attached to shares

Class/type of  Situation previous  Resulting situation after the triggering
shares         to the triggering   transaction
               transaction 
if possible
using
the ISIN CODE
               Number    Number    Number     Number of voting     % of voting rights
               of        of        of shares  rights
               Shares    Voting
                         Rights
                                   Direct     Direct    Indirect   Direct    Indirect
Ordinary 
Share 
GB0000385517   6798024   6798024   6208024              6208024              9.85%
 

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction
 
Type of financial Expiration Exercise/      Number of voting    % of voting
instrument        date       Conversion     rights that may be  rights
                             Period         acquired if the
                                            instrument is
                                            exercised/
                                            converted.
 
N/A


C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments

Resulting situation after the triggering transaction
 
Type of        Exercise   Expiration  Exercise/    Number of voting % of voting
financial      price      date        Conversion   rights           rights
instrument                            period       instrument
                                                   refers to
                                                                    Nominal   Delta
 
N/A

 
Total (A+B+C)
 
Number of voting rights           Percentage of voting rights

6208024                           9.85%


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

In the narrative below, the figures in [ ] indicate the amount of voting rights and the
percentage held by each controlled undertaking where relevant.
 
Baillie Gifford & Co, a discretionary investment manager, is the parent undertaking of an
investment management group.
 
Its wholly-owned subsidiary undertaking Baillie Gifford Overseas Limited [727896; 1.15%]
is also a discretionary investment manager.
 
Its wholly-owned subsidiary undertaking Baillie Gifford Life Limited [375585; 0.60%] is a
life assurance company which procures discretionary investment management services from
Baillie Gifford & Co in respect of its own account shareholdings.
 

Proxy Voting:
 
10. Name of the proxy holder:              N/A
 
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:
 
14. Contact name:                 Gillian Wright
 
15. Contact telephone number:     0131 275 3041