New Chief Executive

THE ALLIANCE TRUST PLC

The Board of The Alliance Trust PLC announces that Alan J. Harden will
succeed Gavin Suggett as Chief Executive.

The press release in relation to the appointment follows:


          New Chief Executive at the Alliance Trusts
        Alan Harden named as Gavin Suggett's successor

The global growth investment trust companies, the Alliance and Second
Alliance Trusts, announced today that Alan Harden, formerly Managing
Director and head of Asia Pacific region, Citigroup Asset Management,
and a member of its global executive committee, will succeed Gavin
Suggett as Chief Executive of the Alliance Trusts on his retirement.

Alan Harden, with Citigroup since the beginning of 2000, was based in
Japan, and expanded the retail and high net worth asset management
businesses in the Asia Pacific region by over 50%.  Before that he was
with Standard Chartered Bank in Singapore, where, as Global Head of
Investment Services, he led the wealth management strategy and
implemented, in Asia, an innovative third party distribution strategy.
This led to Standard Chartered becoming the largest fund distributor in
Asia.   He had joined Standard Chartered in 1990 from HSBC where he was
Senior Investment Manager, resident in Hong Kong and, before that, Head
of Asset Management, resident in Dubai.

Commenting on the appointment, Gavin Suggett said:
"I am delighted to be handing over the reins to Alan.  Our business
needs to be led by an individual with an international outlook, an
ability to think and act strategically and the skills necessary to
manage a complex organisation in today's fast moving environment.
Alan's track record gives me confidence that the Alliance Trusts remain
in safe hands and that we will continue to expand in a controlled and
focused manner.  We are fortunate to have secured his services."

Bruce Johnston, Chairman, added
"We are confident that Alan will build upon the successes achieved by
Gavin Suggett in his 30 year career at the Alliance Trusts, and welcome
him wholeheartedly to a job which focuses on the essentials of our
objectives at the Alliance Trusts - consistency in our investment
performance, innovation in our retail offering and, above all, working
single mindedly for our own stockholders."

Alan Harden commented:
"The international outlook, strength, integrity and performance record
of the Alliance Trusts are well recognised.  It's a great opportunity
for me and I'm looking forward to it immensely. What has been achieved
both in long term performance and in the retail business shows that, at
the Alliance Trusts, we are well placed to become the leader in our
market."

Notes to editors:

(1)  The Alliance Trust PLC and The Second Alliance Trust PLC are long
     established global growth investment trusts with net assets of £1.39
     billion and £469 million respectively. They were both formed in the
     1880s and continue to be self-managed, operating from Dundee. They have
     a very high proportion of retail investors, holding stock through
     stockbrokers, charities and trusts as well as in the products provided
     by Alliance Trust Savings.

(2)  Alliance Trust Savings, which is authorised and regulated by the
     Financial Services Authority, is owned by the Alliance Trust and Second
     Alliance Trust. It is a bank which provides the low cost, Select range
     of PEPs, ISAs, Investment Plans and Pensions.  Formed in 1986 Alliance
     Trust Savings now has over 36,000 customers and administers over £1.1
     billion of customer assets. Over 16% of the stock of the Alliance Trust
     and 24% of that of the Second Alliance Trust is now  held through these
     products, which also allow self-select investment in other UK securities
     as well as in a selection of bond funds.

(3)  Alan Harden is 45. He has dual UK/USA nationality and is married
     with one child. He is a notable public speaker in the field of
     investment, demographics and pensions, to which areas he brings his
     international perspective and experience. He enjoys skiing, triathlon
     and other endurance sports and is a keen golfer.

(4)  Alan Harden will join the organization as Chief Executive designate
     on 3 November 2003, taking over as Chief Executive on 1 January 2004.
     Gavin Suggett will remain with the organisation in a consultative
     capacity until May 2004, when he will retire on his 60th birthday.

(5)  Alan Harden's appointment as Chief Executive will fall to be
     approved by the stockholders of each Trust at the AGMs in 2004.

(6)  Colour photographs of Alan Harden are available from Citigate
     Smarts on the number below.


(7)  Figures above are as at 30 September 2003

For further information:

The Alliance Trusts
Bruce Johnston            Tel: [phone]
Gavin Suggett             Tel: [phone]
Alan Harden               Tel: [phone]
Website                   www.alliancetrusts.com

Citigate Smarts
Flora Martin              Tel: [phone]
Rachel Collins            Tel: [phone]

END

------------------------------------------------------------
This information was brought to you by Waymaker  http://www.waymaker.net