Director's interests in securities

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                                     13
                                                          
Price per stock unit                                      �23.0000
                                                          
Date of transaction                                       20th August 2003
                                                          
Date Company informed                                     21st August 2003
                                                          
Total holdings following this information                 343

Total percentage of issued class                          0.002%
                                                          
                                                          
                                                          
This notification does not relate to dealings by persons
otherwise connected with the named director.

                                                          

Name of contact                                           Mr Ian Goddard

Telephone Number                                          01382 201700

Date of notification                                      22nd August 2003