Annual Report and Accounts

ANNUAL REPORT AND ACCOUNTS

Copies of the Annual Report and Accounts and Notice of Meeting have been
submitted to the UK Listing Authority, and will shortly be available for
inspection at the UK Listing Authority's Document Viewing Facility, which is
situated at:

       Financial Services Authority                     
                                                        
       25 The North Colonnade                           
                                                        
       Canary Wharf                                     
                                                        
       London                                           
                                                        
       E14 5HS                                          
                                                        
       Tel No. (0) 207 676 1000                         

The Annual Report and Accounts can also be viewed on the Company website at 
www.alliancetrust.co.uk/2007report.