Director's 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 and spouse.
                            
Class of Security           Ordinary stock units of 25p
                            
Name of registered holder   Alliance Trust Savings Nominees
                            Limited
                            
Number of stock units       56 (26 self, 30 spouse)
                            
Price per stock unit        �22.8700
                            
Date of transaction         1st October 2003
                            
Date Company informed       2nd October 2003
                            
Total holdings following    12,587
this information

Total percentage of issued  0.07%
class                       

                            
                            
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        2nd October 2003