THE BIOTECH GROWTH TRUST PLC

NET ASSET VALUE

The estimated un-audited net asset value, calculated in accordance with the
guidelines of the Association of Investment Companies, for The Biotech Growth
Trust PLC at the close of business on 16 January 2014 was 527.60p (ex & cum
income).

For and on behalf of the Board

Frostrow Capital LLP

Secretary

17 January 2014