Dividend Declaration

CITY OF LONDON INVESTMENT TRUST PLC
13 October 1999

                            
                   DIVIDEND RESOLUTION
                            
The  board  of  The City of London Investment  Trust  plc
announces:

Dividend on the Ordinary Shares

That a first interim dividend of 1.78p per Ordinary Share
of  25p,  in respect of the year ending 30 June 2000,  be
paid  on  30 November 1999 to holders registered  at  the
close of business on 29 October 1999.

For further information please contact:
Job Curtis
Portfolio Manager
The City of London Investment Trust plc
Telephone: [phone]

or

Alex Crooke
Deputy Portfolio Manager
The City of London Investment Trust plc
Telephone:  [phone]

or

Vicki Staveacre
Henderson Press Office
Telephone: [phone]