Holding(s) in Company

Intl. Biotechnology Trust PLC
1 July 2002




1 July 2002

By Facsimile



London Stock Exchange Limited

Regulatory News Service

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 July 2002 that,
following purchases of 125,000 shares by Exeter Global Opportunities Fund and
600,000 shares by Exeter Capital Growth Fund, Exeter Asset Management Limited
has an interest in 2,475,000 ordinary shares of 25p each, representing 5.09% of
the 48,615,467 shares in issue, held by portfolios under their management.


The shares are beneficially held by Exeter Selective Assets Investment Trust
(375,000), Exeter Managed Growth Fund (550,000), Exeter Capital Growth Fund
(900,000) and Exeter Global Opportunities Fund (650,000).




Yours faithfully,





John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries













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