Director Shareholding

Directors' interests in securities
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mr William Berry
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within ISA by self and within PEP
                                     and ISA by spouse pursuant to
                                     regular standing order and standing
                                     election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                39 (17 self, 22 spouse)
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        3,375
information

Total percentage of issued class     0.007%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mr David A Deards
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within Investment Plan and Pension
                                     Plan by self pursuant to regular
                                     standing order and standing
                                     election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                14
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        1,105
information

Total percentage of issued class     0.002%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mr Bruce W M Johnston
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within Investment Plan, PEP and
                                     ISA by self pursuant to regular
                                     standing order and standing
                                     election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                31
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        17,351
information

Total percentage of issued class     0.03%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mrs Lesley M S Knox
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within Pension Plan by self
                                     pursuant to regular standing order
                                     and standing election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                4
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        555
information

Total percentage of issued class     0.001%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Dr Christopher Masters
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within Investment Plan by spouse
                                     pursuant to regular standing order
                                     and standing election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                5
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        499
information

Total percentage of issued class     0.001%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mrs Sheila M Ruckley
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within Investment Plan and PEP by
                                     self pursuant to regular standing
                                     order and standing election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                15
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        1,769
information

Total percentage of issued class     0.004%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mr Gavin R Suggett
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within ISA by self and within ISA
                                     and Pension Plan by spouse pursuant
                                     to regular standing order and
                                     standing election).
                                     
                                     Increase in non-beneficial interest
                                     following purchase of shares
                                     (within Investment Plan pursuant to
                                     regular standing order and standing
                                     election) by four trusts of which
                                     the director is a trustee.
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                86 (13 self, 14 spouse, 59 trusts)
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        12,458
information

Total percentage of issued class     0.02%
                                     
                                     
                                     
Name of Company                      The Alliance Trust PLC
                                     
Name of Director                     Mr Alan M. W. Young
                                     
Type of Transaction                  Increase in beneficial interest
                                     following purchase of shares
                                     (within PEP and ISA by self and
                                     within PEP, ISA and Investment Plan
                                     by spouse pursuant to regular
                                     standing order and standing
                                     election).
                                     
Class of Security                    Ordinary stock units of 25p
                                     
Name of registered holder            Alliance Trust Savings Nominees
                                     Limited
                                     
Number of stock units                40 (18 self, 22 spouse)
                                     
Price per stock unit                 £24.5000
                                     
Date of transaction                  7th May 2003
                                     
Date Company informed                8th May 2003
                                     
Total holdings following this        2,743
information

Total percentage of issued class     0.005%
                                     

This notification does not relate
to dealings by persons otherwise
connected with the named directors.

                                     
Name of contact                      Mr Ian Goddard
                                     
Telephone Number                     01382 201700
                                     
Date of notification                 8th May 2003