Director/PDMR Shareholding

City of London Investment Group plc

(the "Company" or "City of London")

19 October 2010

Director Shareholding

The Company has been notified that on 19 October 2010 Douglas Allison, Finance Director, transferred 103,750 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to his wife, Mrs Phillipa Jane Allison.

Following this transfer Douglas Allison and his connected parties are interested in 414,375 Ordinary Shares representing 1.6 per cent. of the issued share capital in City of London.

Enquiries:

Douglas Allison

Finance Director

City of London Investment Group plc

Tel: 020 7711 0771