Alliance Trust PLC

Long Term Incentive Scheme Award

Alliance Trust PLC has granted awards under the Alliance Trust PLC Long Term Incentive Plan (2007) (the "LTIP") on 11 April 2014.

The awards under the LTIP, granted over Alliance Trust PLC Ordinary 2.5p shares, comprise (1) Matching Awards granted with reference to the number of Alliance Trust PLC ordinary 2.5p shares purchased and deposited by the Directors from any annual bonus award received by that individual and (2) Performance Awards.

All of the awards are made subject to conditions which are a combination of comparative Total Shareholder Return performance and Net Asset Value growth against a peer group of Global investment trusts with any payment being subject to an underpin of increased dividend on an absolute basis. Full vesting only takes place for upper quartile performance against the peer group for both measures over a three year period with no vesting where performance against the peer group is below the median for both measures.

There is no payment required by the participant to allow vesting of the award.

The initial Market Value of the awards, determined in accordance with the rules of the LTIP, is 453.7p per share.

The awards made are as follows:

MATCHING AWARDS

Name of Director Form of
Matching
Award 		Number of
Shares
Comprised
in Option 		Date of
Grant 		Normal date
of vesting
Katherine Garrett-Cox Option 160,086 11 April 2014 11 April 2017
Alan Trotter Option 26,275 11 April 2014 11 April 2017

PERFORMANCE AWARDS

Name of Director Form of
Performance
Award 		Number of
Shares
Comprised
in Option 		Date of
Grant 		Normal date
of vesting
Katherine Garrett-Cox Option 187,458 11 April 2014 11 April 2017
Alan Trotter Option 99,184 11 April 2014 11 April 2017

For further information please contact:

Name of contact Mr. Donald McPherson
Telephone Number +44 (0)1382 321000
Date of notification  11 April 2014



HUG#1776896

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