Portfolio Update

Intl. Biotechnology Trust PLC
02 June 2005

          FOR IMMEDIATE RELEASE


02-May-05                                         To : The London Stock Exchange


International Biotechnology Trust plc



The Board of International Biotechnology Trust plc announces that the top ten
investments as at Tuesday 31 May 2005  were as follows:



            NAME                        % of Gross Assets




            Top 10 Investments

            Encysive Pharmaceuticals          6.91

            Sunesis Pharmaceuticals           5.07

            OSI Pharmaceuticals               4.24

            Progenics Pharmaceuticals         3.98

            Micromet                          3.83


            Aderis Pharmaceuticals            3.80

            Nektar Therapeutics               3.71

            Alexion Pharmaceuticals           3.30

            Phase Forward                     2.85


            Barrier Therapeutics              2.79





By Order of the Board

Schroder Investment Management Limited

Secretaries





Enquiries :

International Biotechnology Trust plc         Anthony Carney 020 7658 2548


                      This information is provided by RNS
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