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 31 May 2011.

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 the  conditions approved at the Annual
General   Meeting  of  the  Company  on  20 May  2011. These  conditions  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 381.5p per share.

The awards made are as follows:

MATCHING AWARDS

                                                 Number of
                                  Form of         Shares
                                  Matching       comprised                         Normal date

Name of Director                   Award         in Option      Date of Grant       of vesting

------------------------------ -------------- --------------- ------------------ ----------------


Katherine Garrett-Cox              Option         68,466         31 May 2011       31 May 2014



Robert Burgess                     Option         66,537         31 May 2011       31 May 2014


                                   Option         35,320         31 May 2011       31 May 2014
Alan Trotter

PERFORMANCE AWARDS

                                                   Number of
                                   Form of          Shares
                                 Performance       comprised                         Normal date

Name of Director                    Award          in Option      Date of Grant       of vesting

------------------------------ ---------------- --------------- ------------------ ----------------


Katherine Garrett-Cox               Option          222,935        31 May 2011       31 May 2014



Robert Burgess                      Option          137,614        31 May 2011       31 May 2014


                                    Option          117,955        31 May 2011       31 May 2014
Alan Trotter


For further information please contact:

 Name of contact        Mr. Donald McPherson


 Telephone Number       [phone]


 Date of notification    31 May 2011









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Source: Alliance Trust PLC via Thomson Reuters ONE

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