Transaction in Own Shares

City of London Investment Trust PLC
05 August 2004

HENDERSON GLOBAL INVESTORS

THE CITY OF LONDON INVESTMENT TRUST PLC

5 August 2004


                    THE CITY OF LONDON INVESTMENT TRUST PLC

           Market Purchase by the Company of its own Ordinary Shares

Notification is given that, pursuant to the authority granted at the Annual
General Meeting 17 October 2003 to make market purchases of the Company's own
ordinary shares of 25p each, a market purchase of 100,000 ordinary shares in the
capital of the Company was made today at a price of 185p per share.

Following the purchase and cancellation, 208,513,762 ordinary shares will remain
in issue.

                                    - ENDS -

                    For further information please contact:

Job Curtis

The City of London Investment Trust plc

Telephone: [phone]



Stephen Westwood

Henderson Global Investors

Telephone: [phone]



Stephen Phillips

Henderson Global Investors

Telephone: [phone]


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