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 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                 �22.5700
                                     
Date of transaction                  18th June 2003
                                     
Date Company informed                19th June 2003
                                     
Total holdings following this        11,824
information                          

Total percentage of issued class     0.06%
                                     
                                     
                                     
Name of Company                      The Second Alliance Trust PLC
                                     
Name of Director                     Mrs Lesley M S Knox
                                     
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                38
                                     
Price per stock unit                 �22.5700
                                     
Date of transaction                  18th June 2003
                                     
Date Company informed                19th June 2003
                                     
Total holdings following this        318
information                          

Total percentage of issued class     0.002%
                                     
                                     
                                     
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                 19th June 2003