Notifiable Interest

City of London Investment Group PLC
14 May 2007



City of London Investment Group PLC ('the Company')

Notifiable Interest


A form TR-1 containing the following information has been received by the
Company.

TR-1 notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

City of London Investment Group PLC



2. Reason for the notification

An acquisition or disposal of voting rights



3. Full name of person(s) subject to the notification obligation:

Merrill Lynch British Smaller Companies Trust plc


4. Full name of shareholder(s) (if different from 3):

N/A


5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

9th May 2007


6. Date on which issuer notified:

11th May 2007


7. Threshold(s) that is/are crossed or reached:

Gone above 3%


8. Notified details:



A: Voting rights attached to shares
Class/type of      Situation previous to Resulting situation after the triggering transaction
shares             Triggering
                   transaction           Notification required under DTR transitional provision 7

if possible using
ISIN CODE
                   Number of  Number of  Number of  Number of voting rights % of voting rights
                   Shares     Voting     shares
                              Rights

                                         Direct     Direct     Indirect     Direct     Indirect

GB00B104RS51       N/A        N/A        834,139    834,139    N/A          3.11%      N/A





B: Financial Instruments
Resulting situation after the triggering transaction


Type of financial Expiration date     Exercise/           Number of voting       % of voting rights
instrument                            Conversion Period/  rights that may be
                                      Date                acquired if the
                                                          instrument is
                                                          exercised/ converted




Total (A+B)
Number of voting rights                              % of voting rights

834,139                                              3.11%




9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:



10. Name of the Proxy holder:



11. Number of voting rights proxy holder will cease to hold:



12. Date on which proxy holder will cease to hold voting rights:



13. Additional information:







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