Director Shareholding

Directors' interests in securities

Name of Company                   The Alliance Trust PLC

Name of Director                  Mr David Alun Deards

Type of Transaction               Increase in beneficial interest
                                  following purchase of shares (within
                                  ISA pursuant to regular standing order
                                  and standing election) by spouse.

Class of Security                 Ordinary stock units of 25p

Name of registered holder         Alliance Trust Savings Nominees
                                  Limited

Number of stock units             18

Price per stock unit              £26.6600

Date of transaction               22nd January 2004

Date Company informed             23rd January 2004

Total holdings following this     1,200
information

Total percentage of issued class  0.002%


Name of Company                   The Alliance Trust PLC

Name of Director                  Mrs Lesley M S Knox

Type of Transaction               Increase in beneficial interest
                                  following purchase of shares (within
                                  ISA pursuant to regular standing order
                                  and standing election) by self.

Class of Security                 Ordinary stock units of 25p

Name of registered holder         Alliance Trust Savings Nominees
                                  Limited

Number of stock units             11

Price per stock unit              £26.6600

Date of transaction               22nd January 2004

Date Company informed             23rd January 2004

Total holdings following this     768
information

Total percentage of issued class  0.002%


This notification does not relate to dealings by persons otherwise
connected with the named directors.



Name of contact                   Mr Ian Goddard

Telephone Number                  01382 201700

Date of notification              23rd January 2004