Timetable for Cancellation of Listing and Repay...

The Alliance Trust PLC

Timetable for Cancellation of Listing and Repayment of Preference Stocks

At the Company's Annual General Meeting on 29 April 2005 shareholders approved a
resolution to cancel and repay the Preference Stocks of the Company in issue.

The Notice of Annual General Meeting gave an indicative timetable for the
repayment which was based on an expected date of 8 June 2005, for the Court
Hearing to approve the reduction of capital.

Due to unavoidable delay in presenting the petition and court availability, the
expected date of the Court Hearing to consider the cancellation of the
Preference Stocks will now be Wednesday, 29 June 2005.

This delay affects the timetable for events concerning the cancellation and
repayment of Preference Stocks, which is now expected to be as follows:

Close of Preference Stock          Tuesday, 28 June 2005
registers

Expected Date of Court Hearing     Wednesday, 29 June 2005

Expected Date for Cancellation     Thursday, 30 June 2005
of Preference Stocks to become
effective

Expected Date and Time for         8 a.m. on Thursday, 30 June 2005
Cancellation of Listing on the
Official List and of Right to
Trade on the London Stock
Exchange of the Preference
Stocks

Expected Date for despatch of      On or around 13 July 2005
cheques and effecting bank
transfers in respect of
entitlements of Preference
Stockholders


The dates given above are based on the Company's current expectation and may be
subject to further change.

For the information please contact Ian Goddard, Company Secretary
Telephone:  [phone]