ALLIANCE TRUST PLC

At the close of business on Monday, 13 October 2008, the unaudited net asset value per ordinary share of 2.5p, valued on a bid price basis:

1) excluding income after tax, interest and management expenses arising, of 5p per ordinary share is 317p and

2) including income after tax, interest and management expenses arising is 322p.

For further information, please contact:-

Donald McPherson Alliance Trust PLC Tel. +44 (0)1382 201700