Directors' interests in securities

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          �23.4000
                              
Date of transaction           6th November 2003
                              
Date Company informed         7th November 2003
                              
Total holdings following      521
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
                              and 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         18
                              
Price per stock unit          �23.4000
                              
Date of transaction           6th November 2003
                              
Date Company informed         7th November 2003
                              
Total holdings following      1,386
this information

Total percentage of issued    0.007%
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 PEP and 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         14
                              
Price per stock unit          �23.4000
                              
Date of transaction           6th November 2003
                              
Date Company informed         7th November 2003
                              
Total holdings following      16,051
this information

Total percentage of issued    0.08%
class                         


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 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       1
                            
Price per stock unit        �23.4000
                            
Date of transaction         6th November 2003
                            
Date Company informed       7th November 2003
                            
Total holdings following    368
this information

Total percentage of issued  0.002%
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       5
                            
Price per stock unit        �23.4000
                            
Date of transaction         6th November 2003
                            
Date Company informed       7th November 2003
                            
Total holdings following    536
this information

Total percentage of issued  0.003%
class                       

                            
Name of Company             The Second Alliance Trust PLC
                            
Name of Director            Mrs Sheila 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       27 (19 self, 8 spouse)
                            
Price per stock unit        �23.4000
                            
Date of transaction         6th November 2003
                            
Date Company informed       7th November 2003
                            
Total holdings following    2,228
this information

Total percentage of issued  0.01%
class                       

                            
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       139 (50 self, 51 spouse, 38 trustee)
                            
Price per stock unit        �23.4000
                            
Date of transaction         6th November 2003
                            
Date Company informed       7th November 2003
                            
Total holdings following    12,874
this information

Total percentage of issued  0.07%
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 and 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       21 (11 self, 10 spouse)
                            
Price per stock unit        �23.4000
                            
Date of transaction         6th November 2003
                            
Date Company informed       7th November 2003
                            
Total holdings following    1,563
this information

Total percentage of issued  0.008%
class                       

                                                                        
This notifiation 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        7th November 2003