Merger Update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO OR FROM AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA

RECOMMENDED MERGER OF THE ALLIANCE TRUST PLC AND THE SECOND ALLIANCE TRUST PLC 

31 March 2006

Documents available for inspection

Copies of a circular and prospectus for The Alliance Trust PLC and a circular
for The Second Alliance Trust PLC have been submitted to the UK Listing
Authority, and will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:

Financial Services Authority

25 The North Colonnade

Canary Wharf

London E14 5HS

Tel. No. (0)20 7066 1000

The Document Viewing Facility is open from 9.00 a.m. to 5.30 p.m. every weekday
except bank holidays.