Holding in Company

Intl. Biotechnology Trust PLC
24 January 2001



LETTER TO COMPANY ANNOUNCEMENTS OFFICE


               SUBSTANTIAL SHARE INTEREST NOTIFICATION

We are writing to advise you that the Company was notified on 24 January 2001,
that following acceptance of the Company's Tender Offer, Millennium Partners LP
has ceased to have an interest the issued share capital of the Company.

FROM  SCHRODER INVESTMENT MANAGEMENT LIMITED