RNS Number:8852T
Intl. Biotechnology Trust PLC
06 January 2004

FOR IMMEDIATE RELEASE                              06-Jan-04


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 31st December 2003 was 109.64 pence.


The unaudited net assets at 31 December 2003 was #52.4 million which includes
unquoted investments valued at #19.3 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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