Net Asset Value(s)

At the close of business on Tuesday 9th August 2005 the unaudited net asset
value per ordinary share of 25p, valuing prior charges at par,
was 3551p.

Income after tax, interest and management expenses arising, but which
is not included in the net asset value per ordinary share above,
was 52p per ordinary share.

For further information, please contact:-



Ian Goddard
The Alliance Trust PLC
Tel. [phone]