Correction to NAV Statement

Correction to NAV Statement


The statement of net asset value issued at 12.50 p.m. today is in error.

The corrected figures are as follows:-

At the close of business on Wednesday 18 January 2006 the unaudited value per
ordinary share of 25p, valued under UK GAAP and on mid price basis was 3903p.

Income after tax, interest and management expenses arising, but which is not
included in the net asset value per ordinary share above, was 45p per ordinary
share.

For further information, please contact:-

Ian Goddard
The Alliance Trust PLC
Tel. [phone]