Portfolio Update

Finsbury Life Sciences Inv Tst PLC
04 April 2005



                                                                    4 April 2005





                           FINSBURY LIFE SCIENCES INVESTMENT TRUST PLC

                                         (the 'Company')





                              QUARTERLY STATEMENT OF INVESTMENTS





In compliance with the Listing Rules - Chapter 21 Investment Entities (I)(ii),
the Company discloses the following:



  • Investments valuing greater than 5% of the Company's gross assets comprise
    the following:


Company Name                                                         Value of Investment at      % of Total
                                                                                                 Portfolio
                                                                         31 March 2005             Assets
Merlin Fund LP                                                             3,262,044               10.51
Neurosearch                                                                1,674,645                5.40
Medigene                                                                   1,569,105                5.06





  • The ten largest investments held by the Company comprise the following:


Company Name                                                         Value of Investment at      % of Total
                                                                                              Portfolio Assets
                                                                   31 March 2005

Merlin Fund LP                                                             3,262,044               10.51
Neurosearch                                                                1,674,645                5.40
Medigene                                                                   1,569,105                5.06
Ark Therapeutics Group                                                     1,478,250                4.76
Antisoma Ord                                                               1,437,720                4.63
GPC Biotech NPV                                                            1,351,684                4.36
Biocompatibles Intl Ord                                                    1,225,266                3.95
Vectura Group Ord                                                          1,064,732                3.43
Vicuron Pharmaceuticals                                                    1,038,714                3.35
UK Treasury 8.5%                                                           1,026,100                3.31







                                    - ENDS -



For further information please contact:

Tracey Lago, Company Secretary

Close Finsbury Asset Management Limited

Telephone: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange