Alliance Trust PLC : Director/PDMR Shareholding

Alliance Trust PLC

Long Term Incentive Scheme Award

Alliance Trust PLC has granted awards under the Alliance Trust PLC Long Term Incentive Plan (2007) (the "LTIP") on 2 May 2012.

The awards under the LTIP, granted over Alliance Trust PLC Ordinary 2.5p shares, comprise (1) Matching Awards granted with reference to the number of Alliance Trust PLC ordinary 2.5p shares purchased and deposited by the Directors from any annual bonus award received by that individual and (2) Performance Awards.

All of the awards are made subject to conditions which are a combination of comparative Total Shareholder Return performance and Net Asset Value growth against a peer group of Global Growth investment trusts with any payment being subject to an underpin of increased dividend on an absolute basis. Full vesting only takes place for upper quartile performance against the peer group for both measures over a three year period with no vesting where performance against the peer group is below the median for both measures.

There is no payment required by the participant to allow vesting of the award.

The initial Market Value of the awards, determined in accordance with the rules of the LTIP, is 363.7p per share.

The awards made are as follows:

MATCHING AWARDS

Name of Director	Form of Matching Award	Number of Shares comprised in Option	Date of Grant	Normal date of vesting
Katherine Garrett-Cox	Option	84,997	2 May 2012	2 May 2015
Alan Trotter	Option	52,112	2 May 2012	2 May 2015

PERFORMANCE AWARDS

Name of Director	Form of Performance Award	Number of Shares comprised in Option	Date of Grant	Normal date of vesting
Katherine Garrett-Cox	Option	233,846	2 May 2012	2 May 2015
Alan Trotter	Option	123,728	2 May 2012	2 May 2015

For further information please contact:

Name of contact	Mr. Donald McPherson
Telephone Number	[phone]
Date of notification	2 May 2012

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Source: Alliance Trust PLC via Thomson Reuters ONE

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