Interim Results

Finsbury Worldwide Pharm Tst PLC
17 November 2000
                                                                  NEWS RELEASE



To:       City editors
                                                      For immediate release


                                          Friday 17 November 2000



                FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC

              announces an increase in net asset value of 47.2%

                  for the six months ended 30 September 2000



Finsbury Worldwide Pharmaceutical Trust PLC today announces its interim
results for the six months ended 30 September 2000.



Financial Highlights
                                                (Unaudited)     (Audited)

                                                 Six months    Year ended

                                                      ended      31 March

                                          30 September 2000          2000


Net asset value per share                            647.0p        439.6p
Capital return per share                             206.2p        214.2p
Revenue return per share                               1.2p          0.4p
Investment income (£'000)                               891           699
Other income (£'000)                                    155            82
Net return before taxation (£'000)                      781           351
No interim dividend is proposed
(1999: nil)

Net asset value per share             As at 31 October 2000

                                                (Unaudited)

                                                     629.4p


Chairman, Sir Stuart Burgess commented:


The last six months have been a further period of strong growth for the
Company maintaining the trend of the second half of last year. The 47.2%
increase in net asset value per shares is almost double the increase in the
Company's benchmark index.

The following are attached:



*   Chairman's Statement

*   Statement of Total Return

*   Balance Sheet

*   Cash Flow Statement

*   Notes to the interim accounts



For further information please contact:

Alastair Smith, Close Finsbury Asset Management Ltd            020 7426 6240

Colin Edge, Close Finsbury Asset Management Ltd                020 7426 6233

Sir Stuart Burgess, Finsbury Worldwide Pharmaceutical Trust    01494 431 579

Fiona Harris, Quill Communications                             020 7618 8905




Chairman's Statement

                                                              
Performance



The last six months has been a further period of strong growth for the
Company, maintaining the trend of the second half of last year.  The net asset
value per share grew by 207.4p to 647.0p, an increase of 47.2%.  This is
almost double the 24.7% increase (sterling adjusted) in the Company's
benchmark index, the Datastream World Pharmaceutical Index.



Smaller specialty biotechnology companies contributed significantly to the
out-performance with investments in the United States and Europe doing
particularly well.



The net asset value fell slightly during October reflecting the general
decline in the worldwide stock market.



Gearing



Following the positive impact on net asset value of last year's action on
gearing, the Company has made arrangements to increase its existing borrowing
facility to £50 million.  The additional funds will be invested in stocks
which the investment manager believes will deliver strong returns to
shareholders over the longer term.



Dividend



Revenue generated from the Company's investments continues to be modest and no
interim dividend is being declared.  It is the intention of the Board to
declare dividends only to the extent required to maintain investment trust
status.



Outlook



Your Board believes that the pharmaceutical sector will continue to be an
attractive area for investment and views the long term future for the Company
with optimism.



Sir Stuart Burgess

Chairman




17 November 2000




                 FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC



Statement of Total Return

Incorporating the revenue account for the six months ended 30 September 2000


                        (Unaudited)           (Unaudited)             (Audited)

                  6 months ended 30     6 months ended 30            Year ended
                     September 2000        September 1999
                                                                  31 March 2000
              Revenue Capital Total Revenue Capital Total Revenue Capital Total

                 £000    £000   £000    £000   £000  £000   £000   £000    £000
Gains on           -   91,370 91,370     -    6,149 6,149    -  101,684 101,684
investments


Exchange
losses on
currency            -   (682)  (682)     -       -     -      -    (88)    (88)
balances


Income from       891      -    891     386      -   386     699     -      699
investments                           


Other income      155      -    155      25      -    25      82     -       82


Investment        -  (9,506) (9,506)     -   (472)  (472)   - (14,844) (14,844)
management
and
performance
fees


Other           (265)(1,071) (1,336)  (194)    -    (194) (430)(1,092)  (1,522)
expenses


Net return
before
finance costs
and taxation
                 781  80,111  80,892   217   5,677 5,894    351 85,660  86,011

Interest
payable and
similar            -   (609)   (609)     -     (24)  (24)     -   (284)  (284)
charges


Return on
ordinary
activities
before
taxation          781 79,502 80,283    217   5,653 5,870     351 85,376 85,727


Taxation on
Ordinary
activities      (315)    178  (137)   (57)      -   (57)   (194)     97   (97)


Return on
ordinary
activities
after
taxation         466  79,680 80,146    160   5,653 5,813    157  85,473 85,630


Dividends on
ordinary
shares             -       -     -       -       -     -   (155)     -   (155)


Transfer to      466  79,680 80,146     160  5,653 5,813      2  85,473 85,475
reserves


Return per      1.2p  206.2p 207.4p    0.4p  14.1p 14.5p   0.4p  214.2p 214.6p
Ordinary
share



The revenue columns of this statement represent the revenue account of the
Company.




                 FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC



Balance Sheet

As at 30 September 2000


                                      (Unaudited)     (Unaudited)    (Audited)

                                     30 September    30 September     31 March
                                             2000            1999         2000

                                             £000            £000         £000


Fixed asset investments                   297,102          97,886      199,626


Current assets

Debtors                                       325             144          180
Cash at bank                                  272              82       14,255
                                              597             226       14,435

Creditors

Amounts falling due within one           (47,699)         (3,704)     (44,207)
year
Net current liabilities                  (47,102)         (3,478)     (29,772)

Net Assets                                250,000          94,408      169,854


Capital and reserves
Called up share capital                     9,660          10,035        9,660
Share premium                              43,143          43,143       43,143
Capital reserves - realised                57,526          27,166       43,645
Capital reserve - unrealised              138,812          13,888       73,013
Capital redemption reserve                    375               -          375
Revenue Reserve                               484             176           18
Total shareholders' funds                 250,000          94,408      169,854
Net asset value per Ordinary               647.0p          235.2p       439.6p
share




                 FINSBURY WORLDWIDE PHARMACEUTICAL TRUST PLC


Cash Flow Statement

For the six months ended 30 September 2000


                                             (Unaudited)  (Unaudited) (Audited)

                                            30 September 30 September  31 March

                                                    2000         1999      2000

                                                   £000         £000      £000
Net cash flow from operating activities            (666)      (1,096)     (856)


Servicing of finance
Interest paid                                      (619)         (26)      (73)
                                                 (1,285)      (1,122)     (929)
Taxation

Taxation recovered                                    33           14        -


Financial Investments

Purchases of investments                        (50,252)     (17,637)  (85,379)
Sales of investments                              40,476       11,569   78,227
                                                 (9,776)      (6,068)   (7,152)
Equity dividends paid                              (155)        (161)     (161)

                                                 (9,931)      (6,229)   (7,313)


Net cash outflow before financing               (11,183)      (7,337)   (8,242)


Financing

(Decrease)/increase in short term loans          (2,117)        2,005    22,641
Repurchase of ordinary shares                        -             -    (2,372)
Net cash (outflow)/inflow from financing         (2,117)        2,005    20,269


(Decrease)/increase in cash for the period      (13,300)      (5,332)    12,027



Notes to the Interim Accounts


2.    Return per Ordinary share

Revenue return per Ordinary share is calculated by dividing the net revenue
available for Ordinary shareholders of £466,000 (six months ended 30 September
1999:  £160,000; year ended 31 March 2000:  £157,000) by the 38,640,000 (30
September 1999:  40,140,000; 31 March 2000:  39,898,197) weighted average
shares in issue.



Capital return per Ordinary share is calculated by dividing the net capital
return available for Ordinary shareholders of £79,680,000 (six months ended 30
September 1999:  £5,653,000; year ended 31 March 2000:  £85,473,000) by the
38,640,000 (30 September 1999:  40,140,000;  31 March 2000:  39,898,197)
weighted average shares in issue.



3.       Comparative information

The figures and the financial information for the year ended 31 March 2000 are
an extract from the latest published accounts and do not constitute statutory
accounts for that year as defined by Section 240 of the Companies Act 1985.



Those accounts have been delivered to the Registrar of Companies and included
in the report of the auditors which was unqualified and did not contain a
statement under either Section 237 (2) and 237 (3) of the Companies Act 1985.