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 Prudential Plc has a notifiable interest in 2,518,024 ordinary shares of
25p each in the Company, representing 5.18% of the 48,615,467 ordinary shares 
in issue.


LETTER FROM: INTERNATIONAL BIOTECHNOLOGY TRUST PLC