Listing Rule 21

City of London Investment Trust PLC
04 October 2004


THE CITY OF LONDON INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

4 October 2004




                    THE CITY OF LONDON INVESTMENT TRUST PLC

                                Listing Rule 21

In accordance with paragraph 21.20 (l) (ii) of the Listing Rules, The City of
London Investment Trust plc announces its ten largest investments, including all
holdings with a value greater than 5% of its gross assets, as at 30 September
2004:

Company

BP
HSBC
Shell Transport & Trading
GlaxoSmithKline
Vodafone
Barclays
Royal Bank of Scotland
HBOS
British American Tobacco
Lloyds TSB



                                    - ENDS -


For further information, please call:

Job Curtis
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]



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