Dividend Declaration

City of London Investment Trust PLC
5 October 2000

                      DIVIDEND RESOLUTION
                               

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

     Dividend on the Ordinary Shares

     That  a first interim dividend of 1.84p per Ordinary Share
     of  25p, in respect of the year ending 30 June 2001,  will
     be  paid on 30 November 2000 to holders registered at  the
     close of business on 27 October 2000.


For further information please contact:

Job Curtis                              or   Vicki Staveacre
Portfolio Manager                            Henderson Press Office
The City of London Investment Trust plc      Telephone: [phone]
Telephone: [phone]

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