Director Shareholding

Directors' interests in securities

Name of Company                    The Alliance Trust PLC

Name of Director                   Mr David Alun Deards

Type of Transaction                Increase in beneficial interest
                                   following purchase of shares (within
                                   investment plan pursuant to regular
                                   standing order and standing election)
                                   by self.

Class of Security                  Ordinary stock units of 25p

Name of registered holder          Alliance Trust Savings Nominees Limited

Number of stock units              38

Price per stock unit               £26.5700

Date of transaction                15th January 2004

Date Company informed              16th January 2004

Total holdings following this      1,182
information

Total percentage of issued class   0.002%


Name of Company                    The Alliance Trust PLC

Name of Director                   Mr Alan Jerry Harden

Type of Transaction                Increase in beneficial interest
                                   following purchase of shares (within
                                   investment plan pursuant to regular
                                   standing order and standing election)
                                   by self.

Class of Security                  Ordinary stock units of 25p

Name of registered holder          Alliance Trust Savings Nominees Limited

Number of stock units              74

Price per stock unit               £26.5700

Date of transaction                15th January 2004

Date Company informed              16th January 2004

Total holdings following this      372
information

Total percentage of issued class   0.0007%


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 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              9

Price per stock unit               £26.5700

Date of transaction                15th January 2004

Date Company informed              16th January 2004

Total holdings following this      757
information

Total percentage of issued class   0.002%


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



Name of contact                    Mrs E Lee

Telephone Number                   01382 201700

Date of notification               19th January 2004