Holding(s) in Company

Intl. Biotechnology Trust PLC
06 May 2004

                                                                      6 May 2004


                    Substantial Share Interest Notification

We are writing to advise that the Company was notified on 6 May 2004 that
Deutsche Bank AG and its subsidiary companies have a notifiable interest in
5,784,000 ordinary shares of 25p each, representing 12.09% of the 47,815,467
shares in issue.

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Enquiries:

John Spedding
Schroder Investment Management Limited                             020 7658 3206



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