ALLIANCE FIRST FUND DECLARES THREE SEN DISTRIBUTION

Kuala Lumpur, 6 January 2006 - Alliance Unit Trust (AUT) Management Berhad, a subsidiary of Alliance Bank, is declaring an income distribution of 3 sen per unit for its Alliance First Fund (AFF) investors for the year ended 31 December 2005.

This translates into approximately 4.8% returns for Alliance First Fund based on the average selling price during the financial year 2005.

Alliance First Fund was launched in January 1996 with the aim of providing mid-to long-term investors a professionally-managed portfolio of equity and fixed income securities. "By adopting a balanced approach, AFF's volatility is expected to be lower than wholly equity funds as a large portion of the Fund's assets are being invested in fixed-income securities such as money market deposits, corporate bonds and loan stocks," said Kenny Tan, Chief Executive Officer of Alliance Unit Trust (AUT) Management Berhad.

"Seasoned investors also seek after AFF as it provides them with complimentary insurance coverage on the basis of RM1.00 for every unit invested. The total insurance coverage is determined by the total units held at any one time subject to a maximum of RM100,000," explained Tan.

AFF is sold by AUT Tied-Agents and third party distributors such as HSBC, Standard Chartered Bank branches and AmPrivate Banking. RHB Unit Trust, Affin Bank and ECM Libra have recently started selling AFF towards the end of 2005, as part of Alliance Unit Trust plan to expand its distribution channels in line with its corporate philosophy of "We treat your money as seriously as you do."

For inquiries or for a copy of its Master Prospectus, please call our customer service hotline number at 03-2698 4299 or log on to www.allianceut.com.my.