Net Asset Value(s)

ALLIANCE TRUST PLC

At the close of business on Tuesday, 4 November 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 331p and

2) including income after tax, interest and management expenses arising is
336p.

For further information, please contact:-

Donald McPherson              
                              
Alliance Trust PLC            
                              
Tel. [phone]