26 September 2008

ALLIANCE TRUST ASSET MANAGEMENT APPOINTS NEW HEAD OF UK RETAIL SALES

Alliance Trust Asset Management, the recently formed asset management subsidiary of Alliance Trust PLC, has today appointed Tom Pearson as Director and Head of UK Retail Sales. Tom, who is currently Director, Financial Institutions Group, at Jupiter, will start with Alliance Trust Asset Management on October 8th.

Tom has extensive experience in distributing asset management products throughout the UK retail market. He will report to Edward Troughton, Managing Director, Distribution for Alliance Trust Asset Management, and will work closely with him to establish distribution channels for asset management products and services. Alliance Trust Asset Management’s initial products will draw on the existing core strengths of Alliance Trust PLC’s established and experienced investment teams.

While at Jupiter Tom was responsible for distributing its product range to multi-managers, wealth managers, stockbrokers, family offices and investment and private banks. During his ten years with Jupiter, Tom was part of a team of three people nationwide who grew the business substantially and he was instrumental in developing from scratch the company’s business in the Channel Islands. Previously he worked for six years at Baillie Gifford both in its retail business and liaising with clients for the institutional pension fund team.

Edward Troughton said, “I am absolutely delighted that we have been able to attract someone of Tom’s undoubted calibre and reputation within the UK retail market. Tom completes a very strong line-up and joins at a very exciting time for our business. He knows the retail and intermediary marketplaces inside out and his experience will be crucial in allowing us to build a truly differentiated business at Alliance Trust Asset Management and secure those clients, who are interested in long-term, quality investment products.”

Tom Pearson said, “I am delighted that I have this unique opportunity to join a business that has all the energy and ambition of a start up but with the quality investment record and 120-year history of the Alliance Trust. Alliance Trust Asset Management has tremendous potential. The U.K. market is absolutely ready for a new entrant with the qualities and credentials of Alliance Trust. It is a privilege to be involved in bringing the proven and trusted investment style of Alliance Trust to a wider market.”

Contacts

Jane Holligan, Media Relations Manager Anna Schirmer / Stuart Lerman / Anna Moulds

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. Alliance Trust PLC is a self-managed investment company with investment trust status. A FTSE-100 company, it has been investing since 1888 and is the largest generalist UK investment trust by assets listed on the London Stock Exchange.

2. Alliance Trust Asset Management is a wholly-owned subsidiary of Alliance Trust PLC.