RNS Number:2529J
Second Alliance Trust PLC
26 March 2003


The Second Alliance Trust PLC

Section 198 Companies Act 1985

We received notification today, 26 March 2003, from Collins Stewart Limited that
as of 21 March 2003 it had an interest in 53,863 4.5% Cum. Preference stock in
this Company, representing 6.733% of the stock of that class.

By reason of a sale of 53,863 4.5% Cum. Preference stock on 24 March 2003 their
holding is now nil.



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