Top 10 Holdings as at 31 January 2006

The Alliance Trust PLC

In accordance with paragraph 20.21(l)(ii) of the Listing Rules, The Alliance Trust
PLC declares that its ten largest investments as at 31 January 2006 were:

Company                       Equity      Fixed     Total     % of
                             Holding     Income  Holdings    Gross
                             s £000s   Holdings     £000s   Assets
                                          £000s
BP PLC                        75,702               75,702     3.76
ROYAL DUTCH SHELL             64,458               64,458     3.20
GLAXOSMITHKLINE PLC           56,944               56,944     2.83
HBOS PLC                      37,977      8,153    46,130     2.29
RIO TIMTO PLC ORD 10P         42,467               42,467     2.11
ISHARES A50 CHINA TRACKER     37,367               37,367     1.86
VODAFONE GROUP PLC            32,114               32,114     1.60
PERSIMMON PLC                 28,641               28,641     1.42
ROYAL BANK OF SCOTLAND        28,080               28,080     1.39
HSBC HOLDINGS PLC ORD $0.50   27,732               27,732     1.38

Total Gross Assets (£000s) £2,013,034,302

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


Name of contact             Mr Ian Goddard

Telephone Number            01382 201700

Date of notification        1 February 2006