Distribution of Investments

THE ALLIANCE TRUST PLC

Distribution of investments as at 31 March 2006

Geographical Distribution

UK                                   54%         
                                                 
Europe                               13%         
                                                 
North America                        14%         
                                                 
Japan                                11%         
                                                 
Asia Pacific                         8%          
                                                 
Rest of the World                    0%          
                                                 
Total Assets                         100%        

Industry Distribution

Technology                              5%                      
                                                                
Financials                              31%                     
                                                                
Utilities                               3%                      
                                                                
Oil and Gas                             12%                     
                                                                
Basic Materials                         8%                      
                                                                
Industrials                             12%                     
                                                                
Consumer Goods                          8%                      
                                                                
HealthCare                              8%                      
                                                                
Consumer Services                       9%                      
                                                                
Telecommunications                      2%                      
                                                                
Fixed Income                            1%                      
                                                                
Property                                1%                      
                                                                
Other Net Assets                        0%                      
                                                                
TotalAssets                             100%                    

20 Largest Holdings at 31 March 2006 Value £m       
                                                    
BP                                   £74.0m         
                                                    
Royal Dutch Shell                    £59.9m         
                                                    
GlaxoSmithKline                      £59.6m         
                                                    
Rio Tinto                            £41.9m         
                                                    
Ishares Russell Midcap Index         £39.2m         
                                                    
HSBC                                 £35.4m         
                                                    
Royal Bank of Scotland               £33.3m         
                                                    
HBOS                                 £33.3m         
                                                    
Vodafone                             £32.7m         
                                                    
Persimmon                            £30.2m         
                                                    
Barclays                             £27.0m         
                                                    
Lloyds TSB                           £25.4m         
                                                    
Alliance Trust Savings               £24.2m         
                                                    
BHP Billiton                         £23.7m         
                                                    
Prudential                           £21.1m         
                                                    
Ishares Russell 2000 Index Fund      £20.3m         
                                                    
Tesco                                £19.7m         
                                                    
Mitsubishi UFJ Financial             £19.5m         
                                                    
Alliance Trust Real Estate           £19.5m         
Partnership                                         
                                                    
Exxon Mobil                          £17.6m         
                                                    
Top 10 as a % of total assets        20.5%          
                                                    
Top 20 as a % of total assets        30.7%          

For further information, please contact:-

Ian Anderson

The Alliance Trust PLC

Tel. [phone]