Director Shareholding

City of London Investment Trust PLC
5 December 2001

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

THE CITY OF LONDON INVESTMENT TRUST PLC

2) Name of director

MR R D C HUBBARD

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest

AS IN 2 ABOVE

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

HENDERSON NOMINEES LIMITED A/C PEPS

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

DIRECTOR IN 2 ABOVE

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

GENERAL ISA/PEP - REINVESTMENT OF DIVIDEND INCOME

7) Number of shares/amount of
stock acquired

69

8) Percentage of issued class

INSIGNIFICANT

9) Number of shares/amount
of stock disposed

-

10) Percentage of issued class

-

11) Class of security

ORDINARY 25P SHARES

12) Price per share

228.5P

13) Date of transaction

4 DECEMBER 2001

14) Date company informed

5 DECEMBER 2001

15) Total holding following this notification

8,072

16) Total percentage holding of issued class following this notification

INSIGNIFICANT

If a director has been granted options by the company please complete the
following boxes

17) Date of grant



18) Period during which or date on which exercisable



19) Total amount paid (if any) for grant of the option



20) Description of shares or debentures involved: class, number



21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise



22) Total number of shares or debentures over which options held
following this notification



23) Any additional information



24) Name of contact and telephone number for queries

MS D J TRICKETT - 020 7818 4576

25) Name and signature of authorised company official responsible for
making this notification
MS D J TRICKETT, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED,
SECRETARY
Date of Notification 5 DECEMBER 2001