Net Asset Value(s)

THE BIOTECH GROWTH 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 at the close of business on 1 December 2011 was 207.67p (ex and cum
income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

2 December 2011