RNS Number:8660I
Second Alliance Trust PLC
18 March 2003

THE SECOND ALLIANCE TRUST PLC

At the close of business on Monday 17th March 2003 the unaudited net asset value
per 25p stock unit, valuing prior charges at par, was 2175p.

Income after tax, interest and management expenses arising, but which is not
included in the net asset value per stock unit above, was 15p per stock unit.

For further information, please contact:-

Ian Goddard

The Second Alliance Trust PLC

Tel. 01382 201700


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