Alliance Trust PLC : Net Asset Value(s)

ALLIANCE TRUST PLC
                                  
At the close of business on Thursday 14 December 2017:

The Company's NAV per ordinary share, valued on a bid price basis with Debt at Par, was

-       excluding income, 780.8p

-       including income, 784.2p
  
The Company's NAV per ordinary share, valued on a bid price basis with Debt at Fair Value, was

-       excluding income, 774.8p

-       including income, 778.2p

For further information, please contact:-

Alliance Trust PLC

Tel. [phone]

Notes

1. Net Asset Values are calculated in accordance with published accounting policies and AIC guidelines.
2. The fair value of the Company's fixed loan notes is calculated by reference to a benchmark gilt.
3. The dividend of 3.29p, due to be paid on 2 January 2018, has been deducted from each of the 'including income' figures cited above as from 7 December 2017, being the date upon which the Company's shares went ex-dividend.
4. Correction to Previous Ex Income NAV's - on the 9th March 2017 an error occurred in the accounting of the transfer of undistributed prior year revenue from income to capital as part of the 2016 year-end closedown process.  This resulted in the published NAV excluding income price being undervalued for the period from 9th March 2017 to 6th December 2017, with a maximum impact of 42.9 bps occurring on 19th April 2017. The error was corrected on the 7th December 2017. For the avoidance of doubt, the NAV including income figure (by reference to which the Board has considered utilising its share buyback powers) has been correctly stated at all times. The correct series of data is available from the Company on request.

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Source: Alliance Trust PLC via Globenewswire