Holding(s) in Company

The Alliance Trust PLC


Section 198 Companies Act 1985

We were informed on 11 March 2004 that, following purchases of our stock through
the retail savings and investment plans provided by Alliance Trust Savings
Limited, the interest of Alliance Trust Savings Limited is now in 8,514,626
units of our ordinary 25p stock, being 16.89% of that class.

Alliance Trust Savings Limited's interests are non-discretionary and non-
material in respect of  7,592,191 ordinary stock units (15.06%) (stock
beneficially owned by investors in the Alliance PEP, Investment Plan and ISA).

Alliance Trust Savings Limited also holds 922,435 ordinary stock units (1.83%)
as Trustee of the Alliance Pension Plan, a self invested personal pension (SIPP)
provided and administered by Alliance Trust Savings Limited.  This holding is
aggregated with the non-material holding for disclosure purposes in terms of
Section 199(2)(b) Companies Act 1985.

All stock referred to is registered in the name of Alliance Trust Savings
Nominees Limited.