Listing Rule 21

City of London Investment Trust PLC
05 January 2005

THE CITY OF LONDON INVESTMENT TRUST PLC


HENDERSON GLOBAL INVESTORS


5 January 2005




                    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 31 December
2004:


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



* Investments with a value greater than 5% of gross assets





                               - 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]






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