Net Asset Value(s)

ALLIANCE TRUST PLC

At the close of business on Thursday, 16 October 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 5p
per ordinary share is 300p and

2) including income after tax, interest and management expenses arising is 305p.

For further information, please contact:-

Donald McPherson              
                              
Alliance Trust PLC            
                              
Tel. [phone]