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 14 May 2007 was 121.73p (ex
income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

15 May 2007