Portfolio Update

Intl. Biotechnology Trust PLC
09 October 2006




                                                                  9 October 2006


                               PORTFOLIO COMPANY


The Board of International Biotechnology Trust plc (the 'Company') notes that
Pfizer (Ticker 'PFE') has agreed to acquire the unquoted portfolio company
PowderMed Limited.

The price to be paid by Pfizer has not been disclosed, but incorporating the
value of the acquisition of PowderMed into the Company's net asset value ('NAV')
of Tuesday, 3 October 2006 would have increased that NAV by 5.4p or 3.8%.



Enquiries:

Andy Smith
SV Life Sciences Managers LLP
Investment Manager                              Tel: [phone]


Louise Richard
Schroder Investment Management Limited          Tel: [phone]




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