Holding(s) in Company

City of London Investment Trust PLC
08 October 2004

                                  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

MORLEY FUND MANAGEMENT LIMITED ON BEHALF OF AVIVA PLC

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

-

5. Number of shares / amount of stock acquired

-

6. Percentage of issued class

-

7. Number of shares / amount of stock disposed

£147,974 STOCK

8. Percentage of issued class

25.1%

9. Class of security

14% NON-CUMULATIVE PREFERRED ORDINARY STOCK

10. Date of transaction

7 OCTOBER

11. Date company informed

8 OCTOBER 2004

12. Total holding following this notification

NO LONGER NOTIFIABLE

13. Total percentage holding of issued class following this notification

NO LONGER NOTIFIABLE

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

8 OCTOBER 2004

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for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
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