Substantial Share Interest No

Intl. Biotechnology Trust PLC
12 March 2001



12 March 2001

By Facsimile

London Stock Exchange Limited

Company Announcements

Old Broad Street

London

EC2N 1HP



Dear Sirs


                   Substantial Share Interest Notification


We are writing to advise you that the Company was notified on 7 March 2001,
that TRW Pensions Trust (formerly Lucas Pensions Trust) has ceased to have an
interest in the issued share capital of the Company, following a share sale on
7 March 2001.


Yours faithfully,


John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries