Director Shareholding

Directors' interests in securities

Name of Company             The Alliance Trust PLC

Name of Director            Mr William Berry

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within ISA by self and within PEP
                            and ISA by spouse pursuant to
                            regular standing order and standing
                            election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       33 (14 self, 19 spouse)

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    3,446
this information

Total percentage of issued  0.007%
class


Name of Company             The Alliance Trust PLC

Name of Director            Mr David Alun Deards

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Pension Plan and Investment
                            Plan pursuant to regular standing
                            order and standing election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       12

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    1,264
this information

Total percentage of issued  0.003%
class


Name of Company             The Alliance Trust PLC

Name of Director            Mr Alan J Harden

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Investment Plan pursuant to
                            regular standing order and standing
                            election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       5

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    568
this information

Total percentage of issued  0.001%
class


Name of Company             The Alliance Trust PLC

Name of Director            Mrs Lesley M S Knox

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Pension Plan and ISA
                            pursuant to regular standing order
                            and standing election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       19

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    865
this information

Total percentage of issued  0.002%
class


Name of Company             The Alliance Trust PLC

Name of Director            Dr Christopher Masters

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Investment Plan by spouse
                            pursuant to regular standing order
                            and standing election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       4

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    507
this information

Total percentage of issued  0.001%
class


Name of Company             The Alliance Trust PLC

Name of Director            Mrs Sheila M Ruckley

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within PEP and Investment Plan
                            pursuant to regular standing order
                            and standing election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       14

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    1,938
this information

Total percentage of issued  0.004%
class


Name of Company             The Alliance Trust PLC

Name of Director            Mr Alan M W Young

Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within ISA and PEP by self and
                            within PEP, ISA and Investment Plan
                            by spouse pursuant to regular
                            standing order and standing
                            election).

Class of Security           Ordinary stock units of 25p

Name of registered holder   Alliance Trust Savings Nominees
                            Limited

Number of stock units       34 (16 self, 18 spouse)

Price per stock unit        £25.9300

Date of transaction         18th May 2004

Date Company informed       19th May 2004

Total holdings following    2,927
this information

Total percentage of issued  0.006%
class



This notification does not relate to dealings by persons
otherwise connected with the named directors.



Name of contact             Mr Ian Goddard

Telephone Number            01382 201700

Date of notification        19th May 2004