Issue of Equity

THE BIOTECH GROWTH TRUST PLC                          

                                 20 April 2012                                 

                         Allotment of Ordinary Shares                          

THE BIOTECH GROWTH TRUST PLC (the "Company") announces the allotment of 225,000
Ordinary shares of 25p each fully paid.

These shares were issued today at a price of 248.25 pence per share, which
equates to a premium to the estimated net asset value at the time of
transaction of 0.5%.

The net asset value per Ordinary share at the close of business on 19 April
2012 was 247.34 pence per share.

Following this transaction the Company hereby notifies the market that it has
in issue 62,515,426 Ordinary shares of 25p each all with voting rights. No
shares were held in treasury at the date of announcement.

The figure of 62,515,426 may be used by shareholders as the denominator for the
calculation by which they may determine if they are required to notify their
interest in, or change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

Enquiries:

Mark Pope

Frostrow Capital LLP

Tel: [phone]