Result of AGM

Intl. Biotechnology Trust PLC
18 December 2001



                                                              18 December 2001


                            Annual General Meeting


The Company announces that at the Annual General Meeting of the Company, held
at 31 Gresham Street, London, EC2V 7QA, at 12.00 noon. on Tuesday, 18 December
2001, Resolutions numbered 1 to 7 and 9 to 13 as set out in the Notice of
Meeting were duly passed. In respect of Resolution 8 relating to the
re-election of Mr Howard Greene as a Director of the Company, Mr Greene
indicated shortly before the Annual General Meeting that he did not wish to
stand for re-election and he was accordingly not re-elected.


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Enquiries:


John Spedding

Schroder Investment Management Limited       020 7658 3206