RNS Number:6863L
Intl. Biotechnology Trust PLC
29 May 2003

FOR IMMEDIATE RELEASE                                   29-May-03





To : The London Stock Exchange

International Biotechnology Trust plc

The Board of International Biotechnology Trust plc announces that the unaudited
net asset value per share as at Wednesday 28th May 2003 was 97.45 pence.


The net asset value reflects a partial write-down of Axxima, an unquoted
investment.









By Order of the Board

Schroder Investment Management Limited

Secretaries




Enquiries :

International Biotechnology Trust plc           Stephen Cunningham 020 7658 3287



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