Dividend Resolution

City of London Investment Trust PLC
17 October 2003


                  THE CITY OF LONDON INVESTMENT TRUST PLC

                      Board Meeting - 17 October 2003 

                            Dividend Resolution


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

Dividend on the Ordinary Shares

That a first interim dividend of 2.07p per Ordinary Share of 25p, in respect of
the year ending 30 June 2004, be paid on 28 November 2003 to holders registered
at the close of business on 14 November 2003. The Company's shares will go ex-
dividend on 12 November 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 
Associate Director 
Henderson Global Investors 
Telephone: [phone]

or

Vicki Staveacre 
Henderson Press Office 
Telephone: [phone]



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