Treatment of 10-hydroxycamptothecin (I) with EtOH and H2SO4 in the presence of FeCl3 produced 5-ethoxy-10-hydroxycamptothecin (II) along with minor amounts of the 5-hydroxy derivative (III). Hydrolysis of (II) to give (III) was effected using HCl in H2O-EtOH. Finally, acid-catalyzed condensation of (III) with 2,2,2-trifluoroethanol furnished the title compound.