POLICY ON ANNOUNCEMENTS ON UNQUOTED PORTFOLIO COMPANIES
The Board of International Biotechnology Trust plc (the "Company") notes a change in policy on announcements on the unquoted portfolio. From today, only material (judged by us as a 1% or more impact on the net asset value ("NAV")) investments, divestments and valuation changes will be announced in real time, with a monthly summary of all changes to be detailed in an announcement at the end of each month. There will be no change to the valuation process, with all changes to the NAV being put through daily in real time, only to the timing of announcements to the market where they are not material.
Published on 21st April 2010