Dividend Declarations

City of London Investment Trust PLC
28 January 2000



THE CITY OF LONDON INVESTMENT TRUST PLC

DIVIDEND RESOLUTIONS

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

a) Dividend on the Ordinary Shares

That a second interim dividend of 1.78p per Ordinary Share of 25p, in respect of
the year ending 30 June 2000, will be paid on 28 February 2000 to holders
registered at the close of business on 11 February 2000.

b) Dividends on the Preference and Preferred Stocks

That the dividends for the half year will be paid on 28 February 2000 at:

3.0% on £500,000 Cumulative First Preference Stock
2.1% on £996,151 Non-Cumulative Second Preference Stock
10.0% on £589,672 Non-Cumulative Preferred Ordinary Stock

to holders registered at the close of business on 11 February 2000.

c) Dividend on the Ordinary Shares

That a third interim dividend of 1.78p per Ordinary Share of 25p, in respect of
the year ending 30 June 2000, will be paid on 31 May 2000 to holders registered
at the close of business on 25 April 2000.


For further information please contact:

Job Curtis                                or     Vicki Staveacre/Martin Wade
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]