Net Asset Value(s)

THE BIOTECH GROWTH TRUST PLC (FORMERLY 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 The Biotech Growth
Trust PLC (formerly Finsbury Emerging Biotechnology Trust PLC) at the close of
business on 25 July 2007 was 112.73p (ex income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

26 July 2007