RNS Number:7174I
Second Alliance Trust PLC
13 March 2003


The Second Alliance Trust PLC

Section 198 Companies Act 1985

1.        On 11 March 2003 we received notice from Aboyne-Clyde Rubber Estates of Ceylon PLC that, as a result
          of a purchase of #50,000 4.5% Preference Stock on 4 March 2003, its beneficial interest is in 6.25% of
          the stock of that class.

2.        On 11 March 2003 we received notice from Jennifer Claire Allen that, as a result of a purchase of
          #56,505 4.5% Preference Stock on 4 March 2003, her beneficial interest is in 7.06% of the stock of
          that class. Jennifer Claire Allen has also notified us that by reason of her holding of shares of
          Aboyne-Clyde Rubber Estates of Ceylon PLC, she is indirectly interested in Preference Stock held by
          that company.



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