Interim Management Statement

FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC                  

    Interim Management Statement - 3 months to 31 December 2008 (unaudited)    

Finsbury Worldwide Pharmaceutical Trust PLC invests in pharmaceutical and
biotechnology companies worldwide with the aim of achieving a high level of
capital growth.

The 3 month period ending 31 December 2008 was a positive one for the
pharmaceutical sector, and while the Company saw good absolute performance, the
undiluted net asset value per share rose by 12.0% and the share price by 8.7%,
they underperformed the Company's benchmark, the DataStream World
Pharmaceutical and Biotechnology Index measured in sterling terms on a total
return basis, which rose by 17.2% over the same period.

During the three-month period a total of 678,500 shares were repurchased and
held in treasury at a cost of £3.45m (including expenses). The Company's
Japanese investments performed well in December with Shionogi being the
investment portfolio's best performing holding. During this period the
Company's Investment Manager invested £2.1m (representing 0.6% of the
investment portfolio) in a convertible bond issued by US Biotech Company
Affymetrix Inc.

In the period from 31 December 2008 to 18 February 2009, the Company's diluted
net asset value per share and the share price both rose by 2.1% compared to a
fall of the 5.7% in the Company's benchmark, all measured on a total return
basis. The investment portfolio benefited from the continued merger and
acquisition activity in the sector which saw Pfizer announce its intention to
acquire Wyeth and Gen-Probe's takeover of Tepnel Life Sciences in January.
During the period from 31 December 2008 to 18 February 2009, 558,250 shares
were bought back to be held in treasury at a cost of £3.22m.

Trust Characteristics

                           31 December 2008          30 September 2008         
                                                                               
Number of holdings         40                        36                        
                                                                               
Net assets (£m)            279.9                     253.9                     
                                                                               
Net yield                  0.5%                      0.6%                      
                                                                               
Gearing (AIC basis)        114                       112                       
                                                                               
Share price (p)            560.00                    515.00                    
                                                                               
NAV (p) -undiluted         652.05                    582.28                    
                                                                               
NAV (p) diluted: warrants  614.40                    558.90                    
                                                                               
NAV (p) - fully diluted    612.93                    558.25                    
for                                                                            
                                                                               
warrants and treasury                                                          
shares                                                                         
                                                                               
(Discount)/premium         (14.1%)                   (11.6%)                   
(undiluted)                                                                    
                                                                               
(Discount/premium(diluted  (8.9%)                    (7.9%)                    
- warrants)                                                                    
                                                                               
(Discount/premium (fully   (8.6%)                    (7.7%)                    
diluted)                                                                       
                                                                               
Warrant price (p)          80.50                     44.50                     

Source: Frostrow Capital LLP

10 Largest Investments

Name                                 % of                      % of           
                                                                              
                             investment portfolio      investment portfolio   
                                                                              
                              at 31 December 2008      at 30 September 2008   
                                                                              
Genentech                             7.7                       5.8                      
                                                                              
Bristol-Myers Squibb                  5.3                       5.1                      
                                                                              
Gilead Sciences                       5.3                         -                        
                                                                              
Novartis                              5.2                       5.6                      
                                                                              
Shionogi                              4.7                       3.6                      
                                                                              
Genzyme                               4.7                       5.7                      
                                                                              
Amgen                                 4.2                       2.5                      
                                                                              
Biogen Idec                           4.1                       4.2                      
                                                                              
Vertex Pharmaceuticals                3.6                       2.7                      
                                                                              
Roche                                 3.3                       4.4                      
                                                                               
Total                                48.1                      39.6                     

Source: Frostrow Capital LLP

Sector Analysis

                                      % of                       % of           
                                                                                
                              investment portfolio       investment portfolio   
                                                                                
                              at 31 December 2008        at 30 September2008    
                                                                                
Large capitalisation                  64.9                       60.5           
                                                                                
Small capitalisation                  35.1                       39.5           
                                                                                
Total                                100.0                      100.0           

Source: Frostrow Capital LLP

Geographical Analysis

                                     % of                       % of           
                                                                               
                             investment portfolio       investment portfolio   
                                                                               
                             at 31 December 2008        at 30 September 2008   
                                                                               
North America                        75.4                       80.0           
                                                                               
Europe                               15.2                       13.5           
                                                                               
Japan                                9.4                        6.5            
                                                                               
Total                               100.0                      100.0           

Source: Frostrow Capital LLP

Total Return Performance

                3 Months        1 Year          3 Years         5 Years        
                                                                               
Share price     +8.7%           +13.7%          +0.6%           +26.3%         
                                                                               
NAV Fully       +9.9%           +16.9%          +11.9%          +33.2%         
diluted                                                                        
                                                                               
Benchmark*      +17.2%          +19.4%          +18.6%          +40.9%         

Source: NAV (total return; fully diluted) and Share Price (total return)
Fundamental Data. Benchmark - Thomson Reuters.

* Benchmark - Datastream World Pharmaceutical and Biotechnology Index measured
in sterling terms on a total return basis.

Past performance is not a guide to future performance.

This Interim Management Statement has been prepared solely to provide
information to meet the requirements of the UK Listing Authority's Disclosure
and Transparency Rules.

This Interim Management Statement is available on the Company's website 
www.finsburywp.com.

The Company's net asset value per share is announced daily and is available,
together with the share price, on the TrustNet website at www.trustnet.com

For further information contact: Mark Pope on 0203 008 4913

Frostrow Capital LLP

Company Secretary

24 February 2009