Holding in Company

Finsbury Life Sciences Inv Tst PLC
2 January 2002

                                 SCHEDULE 10

                  NOTIFICATION OF MAJOR INTERESTS IN SHARES

1) Name of company

Finsbury Life Sciences Investment Trust PLC

2) Name of shareholder having a major interest

J P Morgan International Bank

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a
non-beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18

As above

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

Not stated

5) Number of shares/amount of stock acquired

n/a

6) Percentage of issued class

n/a

7) Number of shares/amount of stock disposed

not stated

8) Percentage of issued class

not stated

9) Class of security

Ordinary shares of 25p each

10) Date of transaction

not stated

11) Date company informed

31 December 2001

12) Total holding following this notification

900,000


13) Total percentage holding of issued class following this notification

2.99%

14) Any additional information

J P Morgan International Bank no longer has a notifiable interest in the
ordinary shares of Finsbury Life Sciences Investment Trust PLC.

15) Name of contact and telephone number for queries

Louise Hayward

Close Finsbury Asset Management Limited

Secretary

Tel: [phone]

2 January 2002