AGM Statement

Finsbury Emerging Biotechnology Tst
26 July 2005

                     FINSBURY EMERGING BIOTECHNOLOGY TRUST PLC


                               Results of the AGM


The Company is pleased to announce that at the Annual General Meeting held on 26
July 2005 all resolutions put to the meeting were duly passed.

Resolutions

 1. To receive and consider the audited accounts and the Report of the Directors
    for the year ended 31 March 2005.

 2. To re-elect Mr Peter Keen as a Director of the Company.

 3. To re-elect Mr Anthony Townsend as a Director of the Company.

 4. To re-elect Mr Paul Gaunt as a Director of the Company.

 5. To re-appoint RSM Robson Rhodes LLP as auditors and to authorise the
    Directors to determine their remuneration.

 6. To approve the Directors' Remuneration Report.

 7. To authorise the Directors to allot securities in the Company.

 8. To disapply the rights of pre-emption in relation to the allotment of
    securities contained in section 89 of the Companies Act 1985.

 9. To authorise the Company to make market purchases of Ordinary shares in the
    Company.


                                    - ENDS-



For further information please contact:


Tracey Lago          Close Finsbury Asset Management Limited       020 7426 6219
Jo Stonier           Quill Communications                          020 7763 6977



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