Net Asset Value(s)

The Alliance Trust PLC


At the close of business on Monday, 24 April 2006, the unaudited net asset value
per ordinary share of 25p, valued on a bid price basis, was 4237p.

Income after tax, interest and management expenses arising, but which is not
included in the net asset value per ordinary share above, was 29p per
ordinary share.

On 21 April 2006 the Trustee of the Alliance Trust Employee Benefit Trust
(Employee Benefit Trust) purchased 8,441 shares of the Company at £37.82 per
share to satisfy potential future obligations under the Alliance Trust Senior
Management Equity Incentive Plan (the Plan).

In calculating the net asset value today and in future, the purchase price of
such shares has been and will be excluded from the Capital Reserves of the Company.
The net asset value per share is and will be calculated excluding the 13,123 shares
held (which figure includes the 4,682 shares purchased on 27 May 2005) by the
Trustee of the Employee Benefit Trust to satisfy the Company's potential future
obligations under the Plan.

For further information, please contact:-


Ian Anderson
The Alliance Trust PLC
Tel. [phone]