Directorate change

The Alliance Trust PLC

The Board of The Alliance Trust PLC announces the following appointment:

Mr. Gordon McQueen joins the Board as a non-executive director with immediate
effect.

Mr. McQueen's appointment falls to be approved by the stockholders at the next
Annual General Meeting of the Company.

The press release in relation to the appointment follows:

Press Release

New Non-Executive Director Appointed at the Alliance Trusts

The global growth investment trust companies, the Alliance and Second Alliance
Trusts, have today announced the appointment of Gordon McQueen as a new non-
executive director.  Gordon is a former Chairman and Chief Executive of HBOS
Treasury Services PLC.

Gordon, 57, graduated with a BSc (Hons) degree in Chemistry.  He is a member of
the Institute of Chartered Accountants of Scotland and a fellow of the Chartered
Institute of Bankers of Scotland.  He trained as an equity portfolio fund
manager before embarking on a banking career.  He is a former Finance Director
of Bank of Scotland and joined the boards of HBOS plc and Halifax plc as an
executive director following the merger in 2001 and served on these boards until
the end of 2003.  With a total of 27 years' service at the Bank of Scotland and
HBOS, Gordon has experience in many areas of the financial services business,
particularly in international banking, corporate and commercial banking,
treasury and finance.  As Chief Executive of Treasury Services he was
responsible for the wholesale funding of the HBOS Group and a balance sheet of
over £180bn.

Lesley Knox, Chairman, said, "Gordon has played an important part in the
development of the British banking industry and has a wide knowledge and
understanding of financial markets. We are delighted to welcome someone with his
experience and financial market insight to our Boards. "

Welcoming the appointment, Chief Executive Alan Harden said, "Gordon's
appointment shows that the Alliance Trusts continue to attract professionals of
the highest calibre and integrity to their Boards. At the Alliance Trusts we
have always taken corporate governance seriously. By having a non-executive
director with the skills and top-level experience Gordon brings, stockholders
can be confident this will continue to be the case."

With Gordon's appointment, the Boards of the Alliance Trusts will be made up of
five non-executive directors and four executive directors.

Gordon is also a non-executive director of Scottish Mortgage Investment Trust
PLC where he chairs the audit committee. He is married with two daughters and
lives in Edinburgh.

NOTES TO EDITORS

The Alliance Trust PLC and The Second Alliance Trust PLC are long established
global growth investment trusts with net assets* of £1.51billion and £505.6
million respectively. They were both formed in the 1880s and continue to be self-
managed, operating from Dundee. The Alliance Trust PLC and The Second Alliance
Trust PLC share staffing costs and have the same investment objectives.

*Figures at 30 April 2004

For further information please contact: Jane Holligan, Media Relations Manager,
[phone]