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).
                             
Class of Security            Ordinary stock units of 25p
                             
Name of registered holder    Alliance Trust Savings Nominees Limited
                             
Number of stock units        12
                             
Price per stock unit         �23.6000xd
                             
Date of transaction          22nd October 2003
                             
Date Company informed        23rd October 2003
                             
Total holdings following     367
this information

Total percentage of issued   0.002%
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         23rd October 2003