Dividend Declaration

City of London Investment Trust PLC
4 October 2001

4 October 2001

                   THE CITY OF LONDON INVESTMENT TRUST PLC

                             Dividend Resolution



Resolution

Dividend on the Ordinary Shares

'TO RESOLVE THAT a first interim dividend of 1.98p per Ordinary Share of 25p,
in respect of the year ending 30 June 2002, be paid on 30 November 2001 to
holders registered at the close of business on 26 October 2001. The Company's
shares will go ex-dividend on 24 October 2001.'

                                   - Ends -



For further information please contact:

Job Curtis

Portfolio Manager

The City of London Investment Trust plc

Telephone: [phone]



Vicki Staveacre

Henderson Press Office

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