Holding in Company

Intl. Biotechnology Trust PLC
24 November 2000


LETTER TO COMPANY ANNOUNCEMENTS OFFICE


                 SUBSTANTIAL SHARE INTEREST NOTIFICATION

We are writing to advise you that the Company was notified on 24 November 2000,
that The Lucas Pensions Trust no longer has a notifiable interest in the
Company's ordinary shares, following a reduction in their interest on 17
November 2000.


LETTER FROM INTL. BIOTECHNOLOGY TRUST PLC