Dividend Declaration

THE ALLIANCE TRUST PLC

The Alliance Trust PLC announces declaration of an interim dividend of 37.5
pence per share payable on 16 June 2006 to shareholders on the register on 9
June 2006. The ex-dividend date is 7 June 2006.

This dividend is in accordance with the information contained in the circular
to shareholders dated 31 March 2006 wherein it was explained that it was the
intention of the directors to declare an interim dividend before the effective
date of the merger of the Company with The Second Alliance Trust PLC. Payment
of the interim dividend on 16 June 2006 accelerates the payment of the dividend
in respect of the period to 31July 2006 which would normally be paid in October
2006.

The effective date of the merger of the Company with The Second Alliance Trust
PLC is expected to be 21 June 2006.