Portfolio Update

Intl. Biotechnology Trust PLC
24 April 2008


                                                                   24 April 2008


                        PORTFOLIO COMPANY REVALUATIONS

The Board of International Biotechnology Trust plc (the 'Company') notes the
following change to the value of unquoted portfolio companies Intranasal and
Ricerca

The Directors' valuation of the holdings in Intranasal and Ricerca have been
changed today.  Intranasal has been written down from £0.8m to £0.6m as a result
of delayed progress on the development of its products.  Ricerca has been
written up from £0.5m to £0.8m to reflect growing sales and profits and will now
be revalued periodically as this portfolio company releases trading resultsl.
The net effect of these changes is an uplift of £90k, or 0.1 pence on the net
asset value per share, as at 23 April 2008. These valuation changes will be
incorporated into the net asset value of the Company from today and reflected in
the Company's net asset value announcements with effect from tomorrow, 25 April
2008.


Enquiries:

Kate Bingham
SV Life Sciences Managers LLP
Investment Manager                              Tel: [phone]

Louise Richard
Schroder Investment Management Limited          Tel: [phone]



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