Holding(s) in Company

Intl. Biotechnology Trust PLC
27 October 2004


                                                                 27 October 2004

                    Substantial Share Interest Notification


We are writing to advise that the Company was notified on 27 October 2004 that,
following a Stock Loan Return of 144,000 ordinary shares on 26 October 2004,
Co-operative Insurance Society Limited has an interest in 3,000,000 ordinary
shares of 25p each, representing 6.27% of the 47,815,467 shares in issue.


Enquiries:

Neil Olofsson
Schroder Investment Management Limited             Tel: [phone]


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