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 24 July 2007 was 110.77p
(ex income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

25 July 2007