Net Asset Value(s)

FINSBURY EMERGING BIOTECHNOLOGY TRUST PLC

NET ASSET VALUE

The estimated un-audited net asset value, calculated in accordance with the
guidelines of the Association of Investment Companies, for Finsbury Emerging
Biotechnology Trust PLC at the close of business on 1 May 2007 was 124.09p (ex
income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

2 May 2007