Result of AGM

ALLIANCE TRUST AGM

The 115th AGM of The Alliance Trust PLC took place at the Scottish
School of Contemporary Dance on Friday 25th April. The meeting was
attended by 92 individuals holding stock on the main register of the
Company or through the nominee for Alliance Trust Savings Limited (ATS)
the provider of the Alliance Trusts' range of PEPs, ISAs, Investment
Plans and Pension.

The following resolutions were all passed unanimously on a show of
hands. The votes cast by proxy are shown below. 4,586 proxy cards or
letters of voting instruction (for the ATS nominee) were received.

Resolution                For         Against    Abstain
                                                 
1.   To receive &         1,506,173      496          25
consider the report of
the directors & the
accounts for the year
ended 31 January 2003

2.   To approve the       1,485,451    4,733     
directors' remuneration                          14,940
report

3.   To declare           1,506,420      301          0
dividends

4.   To approve the       1,500,044    5,248          57
appointment of Dr
Christopher Masters as a
director

5.   To approve the       1,502,000    3,280          46
appointment of Mr David
Deards as a director

6.   To re-appoint Mr     1,486,269    4,308     
Bruce W M Johnston as a                          14,792
director

7.   To re-appoint Mr     1,503,394    2,461          46
Gavin R Suggett as a
director

8.   To re-appoint KPMG   1,499,656    5,512          65
Audit PLC as auditor of
the Company

9.   To authorise the     1,501,693    3,688          219
directors to fix the
remuneration of the
auditor

10.  (as Special          1,496,420    9,169          119
Business) That the
directors' fees in
aggregate be fixed at a
sum not exceeding
£120,000 per annum
commencing 1 February
2003)

After the formal business, the Chairman of the Company, Mr Bruce
Johnston, gave a talk to the sdtockholders on Corporate Governance which
was followed by a presentation by Mr David Deards, the finance director.

The meeting was followed by a reception for the stockholders during
which they had time to talk informally to the directors and investment
managers. The events concluded with a dance display by the students of
the College which had been choreographed for the stockholders of the
Alliance Trust.

The Alliance Trust PLC encourages attendance at its AGM by all
registered and beneficial owners of its stock, however held. For
technical reasons under the Companies Act legislation, only registered
members can have their vote counted on a show of hands, but all
stockholders in attendance at the AGM are invited to indicate their
voting intentions, through the use of coloured voting cards, at the show
of hands vote.