Distribution of Investments

THE ALLIANCE TRUST PLC



Distribution of investments as at 31 August 2005

Geographical Distribution


UK                                                                                 55%
Europe                                                                             12%
North America                                                                      17%
Japan                                                                               6%
Asia Pacific                                                                       10%
Rest of the World                                                                   0%

Net Assets                                                                        100%



Industry Distribution


Resources and Basic Industries                                                  25%
Capital Goods                                                                   11%
Consumer Goods and Products                                                     14%
Services                                                                        19%
Financials                                                                      22%
Investment Companies                                                             4%
Fixed Income                                                                     2%
Other Net Assets                                                                 3%
Net Assets                                                                     100%





20 Largest Holdings at                                                         Value £m
31 August 2005

BP                                                                             £69.2m
Royal Dutch Shell                                                              £60.1m
GlaxoSmithKline                                                                £55.1m
Vodafone                                                                       £37.5m
HBOS                                                                           £33.4m
Rio Tinto                                                                      £27.3m
Royal Bank of Scotland                                                         £26.2m
Barclays                                                                       £24.3m
HSBC                                                                           £24.0m
BHP Billiton                                                                   £22.1m
Alliance Trust (Finance)                                                       £18.9m
Tesco                                                                          £17.9m
Persimmon                                                                      £17.5m
Aviva                                                                          £17.1m
Exxon Mobil                                                                    £16.7m
Prudential                                                                     £16.0m
IFTSE 100                                                                      £15.9m
Lloyds TSB                                                                     £15.8m
Abbott Laboratories                                                            £15.6m
Diageo                                                                         £13.3m


The table shows the top twenty listed equity holdings ranked by the market value
of the investment as at the date shown.



For further information, please contact:-

Ian Goddard
The Alliance Trust PLC
Tel. [phone]