Director's interests in securities

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
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
26

Price per stock unit
�22.9500

Date of transaction
10th December 2003

Date Company informed
11th December 2003

Total holdings following this information

2,279
Total percentage of issued class

0.01%

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

11th December 2003