ALLIANCE TRUST PLC

At the close of business on Tuesday, 14 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 321p and

2) including income after tax, interest and management expenses arising is 326p.

For further information, please contact:-

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