Holding(s) in Company

Intl. Biotechnology Trust PLC
04 January 2005


          FOR IMMEDIATE RELEASE                                        04-Jan-05


          To : The London Stock Exchange



International Biotechnology Trust plc


International Biotechnology Trust plc ('IBT') noted at 31 December 2004 that it
had fully exited from its holding in Eyetech Pharmaceuticals Inc. ('Eyetech')
(Ticker 'EYET'). Since the final results of 31 August 2004, the IBT group has
realised £11.3m (US$21.0m) from the sale of Eyetech stock with a cost of £2.1m
(US$3.1m). In total IBT invested £3.4m (US$5.0m) and has realised £17.2m
(US$31.7m). This investment has yielded a capital gain of £13.8m (US$26.7m) and
a multiple of 5 times (6 in US$ terms) for the IBT group.


By Order of the Board
Schroder Investment Management Limited
Secretaries


Enquiries :

International Biotechnology Trust plc       Anthony Carney       020 7658 2548


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