Appointment of Broker

Intl. Biotechnology Trust PLC
3 July 2001


For immediate release 3rd July

            International Biotechnology Trust plc (the 'Company')

                Appoints UBS Warburg as Broker to the Company

The Board of International Biotechnology Trust plc (IBT) today announced the
appointment, with immediate effect, of UBS Warburg Ltd. ('UBS Warburg') as
broker to the Company.

Kate Bingham, General Partner at Schroder Ventures Life Sciences, advisors to
IBT, commented on the appointment:

'UBS Warburg has a large and experienced investment trust as well as
healthcare team. We believe this combination of experience, coupled with a
leading position in the market makes them an excellent broker to IBT.'

Ivo Coulson, Executive Director at UBS Warburg said:

'We are delighted to be working with the Schroder Venture Life Sciences (SVLS)
team, which has been appointed as the advisors to IBT. SVLS's hands-on
approach and its global presence will add value to IBT's investment
portfolio.'

                                    -ENDS-



For further information, please contact:

International Biotechnology Trust

Andrew Barker, Chairman

Tel: [phone]

F. 0207 658 2422

Email: [e-mail]

Schroder Ventures Life Sciences

Kate Bingham/ Katja Stout

Tel: [phone]

Fax: [phone]

Email: [e-mail]

GCI Financial

Annabel O'Connor

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Notes to Editors:

International Biotechnology Trust plc

http://www.internationalbiotrust.com

International Biotechnology Trust plc (IBT) was launched to take advantage of
the investment opportunities arising in mid-stage life science companies, with
emphasis on investing in relatively few companies, and involving a close
working relationship with investee companies through the provision of
strategic management support and sector expertise.


International Biotechnology Trust Key Data

  * Founded in 1994

  * £126.4 million net asset value of investment at 19 June 2001

  * Listed on London Stock Exchange (LSE.L)

  * Advised by Schroder Ventures Life Sciences and managed by Schroders
    Investment Managers

  * Hands- on strategic support and management development advice provided

  * Invests primarily in mid-stage biotechnology companies

  * Investment criteria
      + sound technology platform
      + good prospects for commercialisation
      + strong management team

  * Further financing may be invested where appropriate

  * 19 core investments
      + 12 in US, 2 in Canada, 3 in UK, and 2 in Germany


Schroder Ventures Life Sciences

http://www.svlifesciences.com

Schroder Ventures* has been investing in life science companies since 1983.
Schroder Ventures Life Sciences (SVLS) was established in 1994, as the
dedicated life sciences arm of Schroder Ventures. SVLS has established itself
as a leading international life sciences investor with a team of 17 dedicated
professionals in London, Boston and the West Coast. SVLS advises funds of
approximately $600m and has invested in more than 100 life sciences companies
world-wide.

Schroder Ventures is a leading international private equity group advising 25
funds world-wide with committed capital totalling $7 billion. To date,
Schroder Ventures' funds have invested in over 400 companies in a mixture of
early stage transactions and buy-outs.