Compliance with Model Code

10 March 2010

ALLIANCE TRUST PLC - ('the Company')

Transaction in a close period Listing Rule 15.5.1(4)

The Company is satisfied, by virtue of the points listed below, that all inside
information which the Company and its Directors may have in the period leading
up to the preliminary announcement of the annual results, has been notified to
a Regulated Information Service ('RIS') and that the Company is thereby
exempted from the provisions of the Model Code in relation to closed periods
for any purchases by the Company of its own securities.

In so stating the Company has regard to;

1) the announcement today of the Net Asset Value per share as of the close of
business on the 9 March 2010,

2) the Company's belief, following reasonable enquiries, that there will be no
material difference between the information published today and that to be
included in the forthcoming preliminary announcement of the annual results, and

3) the Company's practice of calculating Net Asset Values per share and
announcing them through a RIS on a daily basis, and

4) there being no other inside information in respect of the Company's
securities.

Enquiries:

Evan Bruce-Gardyne
Alliance Trust PLC
Telephone: [phone]