Holding in Company

Intl. Biotechnology Trust PLC
17 November 2000


LETTER TO: COMPANY ANNOUNCEMENTS OFFICE

SUBSTANTIAL SHARE INTEREST NOTIFICATION

We are writing to advise you that the Company was notified on 17 November 2000,
the Millennium Partners, L.P., is interested in 11,520,000 ordinary shares of
25p each, representing 13.09% of the 88,002,177 ordinary shares in issue,
following purchases totalling 2,670,000 shares during the period 10 to 15
November 2000.

LETTER FROM:  INTERNATIONAL BIOTECHNOLOGY TRUST PLC