Holding in Company

Intl. Biotechnology Trust PLC
2 August 2001


2 August 2001

By Facsimile


London Stock Exchange Limited

Company Announcements

Old Broad Street

London

EC2N 1HP



Dear Sirs


                   Substantial Share Interest Notification

We are writing to advise you that the Company was notified on 1 August 2001,
that Co-operative Insurance Society Limited has reduced its beneficial
interest in the Company, following sales by CIS Pension Scheme Nominee Limited
and CIS Unit Managers Limited totalling 500,000 shares, and now has an
interest in 6,998,967 ordinary shares of 25p each, representing 14.40% of the
48,615,467 ordinary shares in issue.


Yours faithfully,



John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries