Top 10 Holdings as at 31 July 2005

The Alliance Trust PLC

In accordance with paragraph 20.21(l)(ii) of the Listing Rules, The Alliance Trust
PLC declares that its ten largest investments, including all holdings with a
value greater than 5% of its gross assets, as at 31 July 2005 were:

Company                                           Equity      Fixed Income  Total Holdings   % of  Gross
                                                Holdings    Holdings £000s           £000s        Assets
                                                   £000s
BP PLC                                            67,780                 -          67,780          3.81
ROYAL DUTCH SHELL                                 57,743                 -          57,743          3.24
GLAXOSMITHKLINE PLC                               55,215                 -          55,215          3.10
HBOS PLC                                          33,213            11,325          44,538          2.50
VODAFONE GROUP PLC                                36,245                 -          36,245          2.04
ROYAL BANK OF SCOTLAND                            28,609             6,730          35,338          1.98
RIO TINTO PLC ORD 10P                             25,667                 -          25,667          1.44
HSBC HOLDINGS PLC ORD $0.50                       24,775                 -          24,775          1.39
BARCLAYS PLC ORD 25P                              24,460                 -          24,460          1.37
BHP BILLITON PLC                                  20,828                 -          20,828          1.17

Total Gross Assets (£000s) £1,780,789


Name of contact                              Mr Ian Goddard

Telephone Number                             01382 201700

Date of notification                         2 August 2005