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 30 December 2011 was 209.23p (ex and cum
income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

3 January 2012