Transaction in Own Shares

For immediate release

                                                               24 December 2008

                         THE BIOTECH GROWTH TRUST PLC                          

                                (the "Company")                                

                    MARKET PURCHASE OF COMPANY'S OWN SHARES                    

Notification is given, pursuant to the authority granted at the Annual General
Meeting of the Company held on 23 July 2008 to make market purchases of the
Company's own shares up to an aggregate maximum of 8,568,129, that a market
total of 42,000 Ordinary shares of 25p each in the capital of the Company were
purchased today for cancellation by the Company at a price of 118.00p per
share.

Following this transaction and in conformity with the provisions of the
Transparency Directive, the Company hereby notifies the market that; the total
number of Ordinary shares that the Company has in issue, less the total number
of Ordinary shares bought back for cancellation by the Company following such
purchase, and therefore, the total number of voting rights in the Company is
53,967,463. The Company does not currently hold any Ordinary shares in
treasury.

The figure of 53,967,463 may be used by shareholders as the denominator for the
calculation by which they may determine if they are required to notify their
interest in, or change to their interest in, the Company under the FSA's
Disclosure and Transparency Rules.

For and on behalf of

Frostrow Capital LLP

Company Secretary

For further information, please contact:

Mark Pope

Frostrow Capital LLP

Tel: [phone]