Directors' interests in securities

Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mr Gavin R. Suggett
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within PEP by self and PEP and
                            Pension Plan by spouse pursuant to
                            regular standing order and standing
                            election).
                            
                            Increase in non-beneficial interest
                            following purchase of shares
                            (within investment plan pursuant to
                            regular standing order and standing
                            election) by two trusts of which
                            the director is a trustee.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       82 (29 self, 31 spouse, 22 trusts)
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    11,416
this information

Total percentage of issued  0.06%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mr William Berry
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within PEP pursuant to regular
                            standing order and standing
                            election) by self.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       5
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    516
this information

Total percentage of issued  0.003%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mr David A Deards
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Pension Plan by pursuant to
                            regular standing order and standing
                            election) by self.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       11
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    1,208
this information

Total percentage of issued  0.006%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mr Bruce W M Johnston
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within ISA pursuant to regular
                            standing order and standing
                            election) by self.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       9
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    16,037
this information

Total percentage of issued  0.08%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Dr Christopher Masters
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within Investment Plan pursuant to
                            regular standing order and standing
                            election) by spouse.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       4
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    531
this information

Total percentage of issued  0.003%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mrs Sheila M Ruckley
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within ISA by self and PEP by
                            spouse pursuant to regular standing
                            order and standing election).
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       51 (39 self, 12 spouse)
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    2,028
this information

Total percentage of issued  0.01%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mr Alan M W Young
                            
Type of Transaction         Increase in beneficial interest
                            following purchase of shares
                            (within PEP pursuant to regular
                            standing order and standing
                            election) by self and spouse.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       14 (7 self, 7 spouse)
                            
Price per stock unit        �20.6200
                            
Date of transaction         10th April 2003
                            
Date Company informed       11th April 2003
                            
Total holdings following    1,542
this information

Total percentage of issued  0.008%
class                       

                            
This notification does not relate to dealings by persons
otherwise connected with the named directors.
                            

Name of contact             Mr Ian Goddard

Telephone Number            01382 201700

Date of notification        11 April 2003