SAR 5 - JP Morgan Russ

4 May 2006 12:03

City of London Investment Group PLC04 May 2006 FORM SAR 5 DISCLOSURE OF DISPOSALS (Rule 5 of The Rules Governing Substantial Acquisitions of Shares) Name of seller CITY OF LONDON INVESTMENT GROUP PLC Beneficial owner, if different from above N/A Names of any other persons acting by agreement N/Aor understanding (see SAR 5) Company dealt in JP MORGAN RUSSIAN SECURITIES Class of voting shares (eg ordinary shares) ORDINARY Date of disposal 3RD MAY 2006 Number of shares disposed of 250,000 Number of rights over shares disposed of # N/A Nature of rights over shares N/A Total holding of voting shares (and percentage of 13,884,969 (24.72%)total voting shares in issue) Total holding of rights over shares (and N/Apercentage of total voting shares in issue) Combined total holding (and percentage) of 13,884,969 (24.72%)voting shares and rights over shares Date of disclosure 4TH MAY 2006 Contact name OLIVER MARSCHNER Telephone number 0207 860 8340 # See the definition of "rights over shares" in the Definitions Section of the SARs. For details of the SARs disclosure requirements, see SARs 3 and 5 and their Notes which can be viewed on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. This information is provided by RNS The company news service from the London Stock Exchange