Investments in Investment Companies

The Alliance Trust PLC
Investments in Investment Companies


As  required  by rule 21.20(l)(i) of the Listing Rules, The Alliance  Trust  PLC
discloses  that,  as  at  31  July  2005,  it  held  an  investment  valued   at
£2,848,125.00 in the ordinary shares of Strategic Equity Capital plc.

For further information contact Ian Goddard, Company Secretary on 01382 201700.