Holding(s) in Company

Intl. Biotechnology Trust PLC
20 January 2004

                                                                 20 January 2004

                    Substantial Share Interest Notification


We are writing to advise that the Company was notified on 20 January 2004 that,
following a purchase of 300,000 ordinary shares on 19 January 2004, East Riding
of Yorkshire Council has an interest in 1,480,000 ordinary shares of 25p each,
representing 3.09% of the 47,815,467 shares in issue.

Enquiries:

John Spedding

Schroder Investment Management Limited           Tel: [phone]




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