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City of London IT (CTY)

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Wednesday 12 July, 2006

City of London IT

Dividend Declaration

City of London Investment Trust PLC
12 July 2006

HENDERSON GLOBAL INVESTORS



THE CITY OF LONDON INVESTMENT TRUST PLC



12 JULY 2006



                    THE CITY OF LONDON INVESTMENT TRUST PLC



The Board of The City of London Investment Trust plc announces:



(a)        Dividend on the Ordinary Shares



That a fourth interim dividend of 2.40p per Ordinary Share of 25p, in respect of
the year ending 30 June 2006, be paid on Thursday 31 August 2006 to holders
registered at the close of business on 28 July 2006.  The Company's shares will
go ex-dividend on 26 July 2006.



The total dividend for the year to 30 June 2006 will be 9.36p per share, an
increase of 8.6% over the previous year.



The Board is also forecasting a minimum dividend of 10.12p per share (this does
not represent a profit forecast) for the year to 30 June 2007, an increase of
8.1%.  This will be paid at a quarterly rate of 2.53p per share.  The quarterly
rate will next be considered when the Company's third interim dividend is
declared in March 2007, by which time the Board will be able to assess better
the trend in the income performance of the portfolio.



(b)        Dividends on the Preference and Preferred Ordinary Stocks



That the dividends for the half year be paid on Thursday 31 August 2006 at



3.0% on £301,982 Cumulative First Preference Stock

2.1% on £996,151 Non-Cumulative Second Preference Stock

10.0% on £589,672 Non-Cumulative Preferred Ordinary Stock



to holders registered at the close of business on 28 July 2006.



For further information please contact:



Job Curtis

Portfolio Manager

The City of London Investment Trust plc

Telephone: 020 7818 4367



James de Sausmarez

Head of Investment Trusts

Henderson Global Investors

Telephone: 020 7818 3349



                                     -ENDS-


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