Holding(s) in Company

Intl. Biotechnology Trust PLC
07 January 2003


7 January 2003

By Facsimile

RNS

Old Broad Street

London

EC2N 1HP


Dear Sirs

                    Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 6 January 2003
that, following purchases of 100,000 shares by Exeter Global Opportunities Fund,
Exeter Asset Management Limited has an interest in 2,925,000 ordinary shares of
25p each, representing 6.02% 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
(1,250,000) and Exeter Global Opportunities Fund (750,000).


Yours faithfully,


Neil Olofsson

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries


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