Holding(s) in Company

Intl. Biotechnology Trust PLC
04 February 2004

                                                                 4 February 2004

                    Substantial Share Interest Notification

We are writing to advise that the Company was notified on 4 February 2004 that,
following a sale of 636,467 ordinary shares on 2 February 2004, the Co-operative
Insurance Society Limited holds as beneficial owner 3,000,000 ordinary shares of
25p each in the Company, representing 6.27% of the 47,815,467 ordinary shares in
issue.



Enquiries:

John Spedding

Schroder Investment Management Limited           Tel: [phone]


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