Funds Under Management

City of London Investment Group PLC
10 December 2007


For release at 0700h, 7 December 2007

                      CITY OF LONDON INVESTMENT GROUP PLC
                       ('City of London', 'the Company')

                 FUNDS UNDER MANAGEMENT AS AT 30 NOVEMBER 2007

City of London Investment Group PLC (AIM: CLIG), a leading emerging market asset
management group announces its total funds under management (FUM) quarterly. At
the Company's half year end on 30 November 2007 the FUM were US$4.6 billion
(£2.2 billion). This compares to US$4.1 billion (£2.0 billion) at the end of the
first quarter in August 2007, US$3.8 billion (£1.9 billion) at the May 2007 year
end and US$3.1 billion (£1.6 billion) at the end of November 2006.

The quarter end FUM is lower than the peak figure during the quarter of US$4.9
billion (£2.4 billion) recorded on 31 October 2007 and represents a decline of
7.2%, exactly in line with the fall in the benchmark MSCI Emerging Markets Index
(MSEX).

City of London expects to announce interim results for the six months ended 30
November 2007 at the end of January 2008.

For further information contact:
Doug Allison                     Jeff Keating/ Fred Walsh/   Simon Hudson
Finance Director                 Simon Brown                 Andrew Dunn
City of London Investment Group  Landsbanki Securities (UK)  Tavistock
                                                             Communications
Tel: [phone]               Tel: [phone]          Tel: [phone]


NOTES TO EDITORS

City of London is an asset management group whose principal activity is
providing emerging market asset management products and services predominantly
to institutional investors via its principal operating company City of London
Investment Management Company Limited. The Group is based in the UK and also has
offices in the US and Singapore. Clients include some of the US's leading blue
chip institutions and endowment funds.


With total funds under management of approximately US$4.6 billion, the Group
manages several Open Ended Funds as well as a number of segregated accounts. The
Group's fund mandates are mainly in emerging markets, although the Group has
more recently diversified its asset management product portfolio by the launch
of a natural resources fund and has also seeded three new funds: a global fund,
a frontier fund and an emerging markets yield fund. The Group seeks to provide
capital growth for clients through active country allocation and stock
selection.




                      This information is provided by RNS
            The company news service from the London Stock Exchange