Correction: Net Asset Value(s)

ALLIANCE TRUST PLC

This announcement contains a corrected NAV for 18 December 2008

At the close of business on Thursday, 18 December 2008, the unaudited net asset
value per ordinary share of 2.5p, valued on a bid price basis:

1) excluding income after tax, interest and management expenses arising, of 6p
per ordinary share is 320.8p and

2) including income after tax, interest and management expenses arising is
326.9p.

For further information, please contact:-

Ian Anderson                  
                              
Alliance Trust PLC            
                              
Tel. [phone]