Dividend Declaration

City of London Investment Trust PLC
13 February 2003

13 February 2003


                    THE CITY OF LONDON INVESTMENT TRUST PLC

                              DIVIDEND RESOLUTION



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

Third Interim Dividend on the Ordinary Shares

That a third interim dividend of 2.00p per Ordinary Share of 25p, in respect of
the year ending 30 June 2003, be paid on 31 May 2003 to holders registered at
the close of business on 7 March 2003. The Company's shares will go ex-dividend
on 5 March 2003.

                                     -ENDS-


For further information please contact:

Job Curtis

Portfolio Manager, The City of London Investment Trust plc

Telephone: [phone]

Stephen Westwood

Head of Investment Trusts, Henderson Global Investors

Telephone: [phone]

Stephen Phillips

Investor Relations Manager, Henderson Global Investors

Telephone: [phone]




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