Portfolio Update Top 10 Holdings as at 30 April...

The Alliance Trust PLC

The Alliance Trust PLC declares that its ten largest investments as at 30 April
2006 were:

Company                   Equity    Fixed    Total   % of
                         Holdings   Income  Holdings  Gross
                         (£000s)   Holdings (£000s)  Assets
                                    (£000s)

BP PLC                   76,468.6           76,468.6   3.63

ROYAL DUTCH SHELL        64,170.1           64,170.1   3.04

GLAXOSMITHKLINE PLC      61,616.3           61,616.3   2.92

RIO TINTO PLC ORD 10P    43,294.7           43,294.7   2.05

HBOS PLC                 33,368.7  7,860.9  41,229.6   1.96

ISHARES RUSSELL MIDCAP   37,613.2           37,613.2   1.78
INDEX FUND
VODAFONE GROUP PLC       35,244.0           35,244.0   1.67

HSBC HOLDINGS PLC ORD    34,723.4           34,723.4   1.65
$0.50
ROYAL BANK OF SCOTLAND   31,840.9           31,840.9   1.51

PERSIMMON                29,848.7           29,848.7   1.42


Total Gross Assets      £2,108,570.000
(£000s)

There is no single investment with a value in excess of 5% of gross assets.


Name of contact                   Mr Ian Anderson

Telephone Number                  01382 201700

Date of notification              2 May 2006