Board Changes

CITY OF LONDON GROUP PLC

("COLG" or the "Company")

18 April 2016

Board Changes

COLG announces that John Kent is standing down as a director and Chief Executive of the Company with effect from 30 April 2016. The Board wishes to thank John for his contribution to COLG over the past six years.

COLG is delighted to announce that Jason Granite has agreed to join the Board as an executive director with immediate effect. Jason has over 20 years' experience in law, corporate finance, principal investing and investment management. Jason currently serves as Chief Executive and Chief Investment Officer of FCFM Group Limited, where he is the largest shareholder and responsible for both its principal investing strategy and fund management business which manages a number of funds, including on behalf of the Government. He also serves as a director and Chief Investment Officer at Frenkel Topping Group PLC, where he is responsible for managing over £650m of assets on behalf of its clients.

The following information is provided in accordance with paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Jason Granite (aged 40) currently holds, and has held (including all appointments during the five years preceding the date of this announcement), the following directorships and partnerships, other than of the Company:

Current Directorships/Partnerships

FCFM Group Limited

FCFM Group Trading I Limited

FCFM Group Trading II Limited

FCFM Group Investments I Limited

FCFM Group Investments II Limited

FCFM Group Investments III Limited

FCFM Group Properties I Limited

Frenkel Topping Group PLC

Frenkel Topping Investment Management Limited

Directorships/Partnerships also held within the previous five years

Atlas Genetics Limited

Barclay House Cottage Company Limited

Barclay House Hotel Limited

Daniell Arms Limited

Devon Duvets Limited

FCFM Investments Limited

Finance South West GP Limited

Jolliman Clothing Limited

Konik UK Limited

Midwest Camping Limited

Sterne Agee UK LLP

Yeomans Investments Limited

W.Yeomans (Chesterfield) Limited

Jason Granite does not currently hold any shares with voting rights in the Company, nor has he been granted any options over the share capital of the Company.

No further information relating to Jason Granite is required to be disclosed under Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

For further information:

City of London Group plc +44 (0)20 7628 5518

Paul Milner (Chairman)

Peel Hunt LLP (Nominated Adviser and Broker) +44 (0)20 7418 8900

James Britton

Guy Wiehahn

Notes to Editors City of London Group plc is listed on AIM (TIDM: CIN) and is an investment company focused on providing finance to the SME sector, including professional services firms. It does this through investments in companies providing trade finance, lease finance and loan finance.

www.cityoflondongroup.com