Transaction in Own Shares

City of London Investment Trust PLC
12 May 2005

HENDERSON GLOBAL INVESTORS

THE CITY OF LONDON INVESTMENT TRUST PLC

12 May 2005





                    THE CITY OF LONDON INVESTMENT TRUST PLC

Market Purchase by the Company of its own 4.2% cumulative first preference stock



Notification is given that, pursuant to the authority granted at the Annual
General Meeting held on 22 October 2004 to make market purchases of the
Company's own 4.2% cumulative first preference stock, a market purchase of
198,018 4.2% cumulative first preference stock in the capital of the Company was
made today at a price of 100p per share.

Following the purchase and cancellation, 301,982 4.2% cumulative preference
stock remain in issue.

                                    - ENDS -

                    For further information please contact:

Job Curtis

The City of London Investment Trust plc

Telephone:  [phone]



James de Sausmarez

Henderson Global Investors

Telephone: [phone]




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