RNS Number:0358J
Second Alliance Trust PLC
21 March 2003

THE SECOND ALLIANCE TRUST PLC

At the close of business on Thursday 20th March 2003 the unaudited net asset
value per 25p stock unit, valuing prior charges at par, was 2206p.

Income after tax, interest and management expenses arising, but which is not
included in the net asset value per stock unit above, was 16p per stock unit.

For further information, please contact:-

Ian Goddard

The Second Alliance Trust PLC

Tel. 01382 201700


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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