Director/PDMR Shareholding

City of London Investment Group plc

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

16 September 2010

Director Shareholding

The Company has been notified that on 16 September 2010 Douglas Allison, Finance Director, transferred his holding of 310,625 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 310,625 Ordinary Shares.

Enquiries:

Douglas Allison,

Finance Director

City of London Investment Group plc

Tel: 020 7711 0771