AGM Statement

Intl. Biotechnology Trust PLC
19 November 2004



                                                               19 November 2004

                             Annual General Meeting

The Company announces that at the Annual General Meeting of the Company, held at
31 Gresham Street, London, EC2V 7QA, at 12.00 noon on Friday 19 November 2004,
Resolutions numbered 1 to 10, as set out in the Notice of Meeting, were duly
passed.

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Enquiries:

John Spedding
Schroder Investment Management Limited                  020 7658 3206


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