RNS Number:6356M
Finsbury Life Sciences Inv Tst PLC
23 May 2005

FINSBURY EMERGING BIOTECHNOLOGY TRUST PLC

NET ASSET VALUE

The estimated unaudited net asset value, calculated in accordance with the
guidelines of the Association of Investment Trust Companies, for Finsbury
Emerging Biotechnology Trust PLC at the close of business on 20 May 2005 was
99.27p (ex income).

The estimated NAV above includes the Company's interest in the Merlin Fund LP ('
Merlin'), which holds listed investments, cash and unlisted investments.  The
Company's pro rata share of unquoted securities in Merlin represents 4.6% of the
Company's estimated net asset value.  The pro rata share of the listed
securities and cash in Merlin represent 5.0% and 0.6% respectively of the
Company's estimated NAV.  The Company also holds unquoted securities
representing a further 4.9% of the Company's estimated net asset value.

For and on behalf of the Board

Close Finsbury Asset Management Limited

Secretary

23 May 2005


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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