Holding(s) in Company

Intl. Biotechnology Trust PLC
18 October 2004


                                                                 18 October 2004


                    Substantial Share Interest Notification

We are writing to advise that the Company was notified on 18 October 2004 that,
following a sale of 144,000 ordinary shares on 18 October 2004, Co-operative
Insurance Society Limited has an interest in 2,856,000 ordinary shares of 25p
each, representing 5.97% of the 47,815,467 shares in issue.



Enquiries:

Neil Olofsson
Schroder Investment Management Limited                        Tel: [phone]



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