RNS Number:8700R
Intl. Biotechnology Trust PLC
10 November 2003

FOR IMMEDIATE RELEASE                              10-Nov-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 Friday 31st October 2003 was 112.80 pence.

The unaudited net assets at 31 October 2003 was #53.9 million which includes
unquoted investments valued at #19.9 million.



By Order of the Board

Schroder Investment Management Limited

Secretaries



Enquiries :

International Biotechnology Trust plc           Stephen Cunningham 020 7658 3287



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