Annual Report and Accounts

Intl. Biotechnology Trust PLC
18 November 2002


                                                                18 November 2002

                        2002 Annual Report and Accounts


International Biotechnology Trust plc has today submitted its 2002 Annual Report
and Accounts to the UK Listing Authority. The Report will shortly be available
for inspection at the UK Listing Authority's Document Viewing Facility, which is
situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Telephone number: 020 7676 1000


Enquiries:

John Spedding
Schroder Investment Management Limited          Tel: [phone]


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