Substantial shre notification

Intl. Biotechnology Trust PLC
18 April 2001

18 April 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 17 April 2001,
that Co-operative Insurance Society Limited has reduced its beneficial
interest in the Company, following a sale by CIS Pension Scheme Nominee
Limited of 500,000 shares, and now has an interest in 7,598,967 ordinary
shares of 25p each, representing 15.63% of the 48,615,467 ordinary shares in
issue.


Yours faithfully,

John Spedding

For SCHRODER INVESTMENT MANAGEMENT LIMITED

Secretaries