Issue of Equity

THE BIOTECH GROWTH TRUST PLC                          

                               12 September 2012                               

                         Allotment of Ordinary Shares                          

THE BIOTECH GROWTH TRUST PLC (the "Company") announces the allotment of 100,000
Ordinary shares of 25p each fully paid. The shares were issued to meet demand
that cannot be satisfied in the secondary market.

These shares were issued today at a price of 296.25 pence per share, which
equates to a premium to the estimated net asset value at the time of
transaction of 2.2%. The net asset value per Ordinary share at the close of
business on 11 September 2012 was 290.32 pence per share.

Applications have been made for these shares to be admitted to the Official
List of the UK Listing Authority and for admission to trading on the main
market of the London Stock Exchange. It is expected that admission to the
Official List and commencement of dealings in the Shares on the London Stock
Exchange will take place at 8.00 a.m. on 17 September 2012. The Shares will
rank pari passu with the Company's existing Shares.

Following this transaction the Company hereby notifies the market that it has
in issue 62,806,347 Ordinary shares of 25p each all with voting rights. No
shares were held in treasury at the date of announcement.

The figure of 62,806,347 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]