Holding(s) in Company

City of London Investment Trust PLC
20 January 2003

                                  SCHEDULE 10

                   NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Name of company
THE CITY OF LONDON INVESTMENT TRUST PLC

2. Name of shareholder having a major interest
QUILTER & CO AS DISCRETIONARY MANAGERS

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18
AS ABOVE

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them
MORGAN STANLEY QUILTER NOMINEES LTD - 101,000

QUILPEP NOMINEES LTD - 48,000

5. Number of shares / amount of stock acquired
NOT NOTIFIED

6. Percentage of issued class
-

7. Number of shares / amount of stock disposed
-

8. Percentage of issued class
-

9. Class of security
NON-CUMULATIVE SECOND PREFERENCE STOCK

10. Date of transaction
16 JANUARY 2003





11. Date company informed
20 JANUARY 2003

12. Total holding following this notification
£149,000 STOCK

13. Total percentage holding of issued class following this notification
14.96% (NON-MATERIAL)

14. Any additional information
-

15. Name of contact and telephone number for queries
KRISTA BURWOOD - 020 7818 2966

16. Name and signature of authorised company official responsible for making
this notification
KRISTA BURWOOD, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED, SECRETARY

Date of notification
20 JANUARY 2003

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for loss of business or loss of profits) arising in contract, tort or otherwise
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