Holding in Company

Intl. Biotechnology Trust PLC
17 November 2000


Letter to Company Announcements

                    SUBSTANTIAL SHARE INTEREST NOTIFICATION

We are writing to advise you that the Company was notified on 17 November 2000,
that the notification released in respect of Charlamont Trading Limited on 9
November was incorrect.  Current records reflect Charlamont Trading Limited is
interested in 3,760,000 ordinary shares of 25p each, representing 4.27% of the
88,002,177 ordinary shares in issue, following a purchase of 25,000 shares on
10 November 2000 and a purchase of 150,000 shares on 13 November 2000.

Soros Fund Management LLC acts as principal investment advisor to Quantum
Endowment Fund N.V., the operating subsidiary of which is Quantum Partners 
LDC.  Charlamont Trading Limited is a 100% trading subsidiary of Quantum 
Partners and in consequence Quantum Partners LDC and Quantum Endowment Fund N.V.
have also acquired an interest in the shares.  The registered holder of the
shares is Morgan Stanley International Nominees Limited as Custodian for
Charlamont Trading Limited.

Letter From Schroder Investment Management Limited