4 February 2008

ALLIANCE TRUST APPOINTS HEAD OF DISTRIBUTION FOR ALLIANCE TRUST ASSET MANAGEMENT LIMITED

International investment and financial services group Alliance Trust has appointed Edward Troughton as Managing Director, Asset Management Distribution. He will play a key role in the development of a new UK asset management business, Alliance Trust Asset Management Limited (ATAM), and will lead the distribution of products and services for ATAM and manage key client relationships.

Edward, who has a 21-year career in investment, joins Alliance Trust from fund manager BlackRock, where he was a Managing Director within its Account Management Group responsible for institutional business development in the UK. He has extensive experience in developing asset management businesses and managing large international accounts having been Client Director for BlackRock for key clients in the Middle East, Asia Pacific and the UK. Prior to that, as a Director of the BlackRock Account Management Group, based in Edinburgh, he had primary responsibility for building its business in the Middle East and Central Asia.

Alliance Trust Chief Investment Officer Katherine Garrett-Cox said, “Edward has repeatedly shown that he has the experience, creativity and drive to build and foster excellent relationships between asset managers and their clients. We are delighted to welcome him to Alliance Trust Asset Management at the start of this exciting venture, allowing us to draw on all his distribution and client relationship experience as we seek to build a successful new asset management business.”

Before Edward joined BlackRock in 2000 he was a Director at Dresdner Kleinwort Benson Global Equities where he was responsible for managing relationships with its top global clients. Previously he was with NatWest Investment Management/Gartmore based in both London and Hong Kong where he was responsible for their business in Asia ex Japan and for Business Development throughout the region. He began his career in investment in 1986 following a commission in the British Army between 1982 and 1985, and managed Asia Pacific equity portfolios before moving into account management. He has an honours degree in history from the University of St. Andrews.

Alliance Trust group is headed by Alliance Trust PLC, the UK’s largest generalist investment trust, which manages assets of approximately £3bn around the world. Alliance Trust is currently developing the strategy for its new asset management business, building an infrastructure and making key appointments to drive the development of the business forward. It is early days but, when launched, the new subsidiary will aim to deliver enhanced returns to its shareholders by leveraging its investment capability to develop a range of asset management products and services.

Contacts

Jane Holligan, Media Relations Manager Richard Winder / Anna Schirmer

Alliance Trust Lansons Communications

Tel +44 (0)1382 306064 Tel +44 (0)20 7490 8828

Mobile 07745 783212 Email alliancetrust@lansons.com

Email jane.holligan@alliancetrust.co.uk

Web www.alliancetrust.co.uk

Notes to editors

1. A FTSE-250 company, Alliance Trust PLC manages around £3bn of assets, and heads the Alliance Trust group. Through its subsidiaries, Alliance Trust offers asset management for other companies and clients, and financial services, including the administration of sharedealing, ISA and SIPP accounts.

2. The group has an asset management business in Hong Kong, AT Asset Management (Asia Pacific), which was launched in 2006.

3. Photographs of Katherine Garrett-Cox and Edward Troughton are available.