ALLIANCE DANA ADIB FULLY SUBSCRIBED AND FUND SIZE INCREASES TO 400 MILLION UNITS

Kuala Lumpur, 20 April 2004 - Alliance Unit Trust (AUT) Management Berhad, a subsidiary of Alliance Bank, is pleased to announce that its newly-launched RM100 million Alliance Dana Adib (ADA) has been fully subscribed within the offer period. AUT has since successfully obtained the necessary approval to increase the ADA fund size to 400 million units.

Kenny Tan, AUT's Chief Executive Officer says, "The market had staged a healthy pullback in the last two weeks since touching the year high of 904 points at the end of March and with this, the present situation provides a good opportunity for investors to invest in well-managed and fundamentally sound companies. Moreover, there is a consensus view among the analysts and fund managers that the global economy will improve further next year, with Malaysia's government projection of 6.5% in GDP growth". Tan continues on, "As it will be difficult to time and chase the market, we would like to advise the retail investors to diversify their risk by investing in unit trust funds. However, it is important to invest with reputable and professionally managed unit trust companies in order to secure a good return on your investments".

ADA is the first equity/growth Syariah-based fund managed by AUT and was launched on 25 March 2004 at the offer price of 50 sen per unit. Investors in the ADA enjoy free Takaful Term Life and personal accident insurance coverage in proportion to their investment.

For more information on AUT funds or for a copy of ADA's prospectus, call 1-800-88-3065 or log on to
www.allianceut.com.my.