Director Shareholding

Directors' interests in securities

Name of Company             The Alliance Trust PLC

Name of Director            Mr David A Deards

Type of Transaction         Increase in beneficial interest
                            following allocation of free shares
                            within The Alliance Share Incentive
                            Plan.

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       26

Price per stock unit        £25.43

Date of transaction         26th March 2004

Date Company informed       26th March 2004

Total holdings following    1,236
this information

Total percentage of issued  0.002%
class



Name of Company             The Alliance Trust PLC

Name of Director            Mr Alan M W Young

Type of Transaction         Increase in beneficial interest
                            following allocation of free shares
                            within The Alliance Share Incentive
                            Plan.

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       53

Price per stock unit        £25.43

Date of transaction         26th March 2004

Date Company informed       26th March 2004

Total holdings following    2,880
this information

Total percentage of issued  0.006%
class



Name of Company             The Alliance Trust PLC

Name of Director            Mrs Sheila M Ruckley

Type of Transaction         Increase in beneficial interest
                            following allocation of free shares
                            within The Alliance Share Incentive
                            Plan.

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       53

Price per stock unit        £25.43

Date of transaction         26th March 2004

Date Company informed       26th March 2004

Total holdings following    1,903
this information

Total percentage of issued  0.004%
class



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        26th March 2004