Result of EGM

Alliance Trust PLC
10 May 2006


THE ALLIANCE TRUST PLC AND THE SECOND ALLIANCE TRUST PLC

Press Release



10 May 2006

For immediate release



            THE ALLIANCE TRUST PLC AND THE SECOND ALLIANCE TRUST PLC


                   MERGER PROPOSALS APPROVED BY SHAREHOLDERS



The shareholders of The Alliance Trust PLC and The Second Alliance Trust PLC
today, 10 May 2006, voted to merge the two companies.


The merger proposals won overwhelming support from long term and individual
shareholders, many of whom hold their shares in PEPs, ISAs, Investment Plans and
SIPPs provided and administered by Alliance Trust Savings Limited.


Trading in shares in the larger, combined company, which will be called Alliance
Trust PLC, is expected to begin on 21 June 2006.  It is expected to be the
largest generalist investment trust company in the UK, with assets of around
£2.8b (as at 8 May 2006).


As part of the merger proposals, shares in Alliance Trust PLC will be split on a
10-1 basis and the Company will be introducing payment of dividends on a
quarterly basis.


Commenting on the success of the of the merger, Chairman Lesley Knox said: 'The
Boards of both trusts are delighted that such a large number of shareholders
supported the merger of the two trusts.  This is the next chapter in our long
and respected history as a core investment for those seeking a long term store
of increasing value.  We will continue to pursue our objective by constantly
improving our investment performance, diversifying our asset base and growing
our subsidiary businesses and their earnings.'


Chief Executive Alan Harden said: 'Moving forward as one single company will
enable us to become even more focussed and react swiftly to investment
opportunities, continuing to deliver great shareholder value.  The trusts have
increased their dividends for 39 consecutive years.  Over that period, £100
invested in Alliance Trust in 1967 would be worth £15,882 today.  We have been
investing since the 1880s and our business was, is and will continue to be
creating value for shareholders for the medium and longer term.  We are
confident that the new structure will allow us to build sustainable real growth
for our loyal shareholder base.'


Details of the voting information will be available on the Company's website at
www.alliancetrusts.com in due course.



For further information please contact:

Lesley Knox, Chairman - 01382 306041

Alan Harden, Chief Executive - 01382 306041


For investor enquiries contact:

Kelly O'Donnell - 01382 306036

For media enquiries contact:

Jane Holligan - 07745 783212



Amy Fisher/David Masters, Lansons Communications - 0774 0951021

Advisors to Alliance Trust:

Christopher Smith, JPMorgan Cazenove - 020 7588 2828

Angus Gordon Lennox, JPMorgan Cazenove - 020 7588 2828

Advisors to Second Alliance Trust:



Robbie Robertson, Dresdner Kleinwort Wasserstein - 020 7245 2700

David Yovichic, Dresdner Kleinwort Wasserstein - 020 7245 2700










                      This information is provided by RNS
            The company news service from the London Stock Exchange