Listing Rule 21

City of London Investment Trust PLC
02 July 2004

THE CITY OF LONDON INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

2 JULY 2004







                    THE CITY OF LONDON INVESTMENT TRUST PLC


                                Listing Rule 21



In accordance with paragraph 21.20 (l) (ii) of the Listing Rules, The City of
London Investment Trust plc announces its ten largest investments, including all
holdings with a value greater than 5% of its gross assets, as at 30 June 2004:


Company

BP

HSBC

Shell Transport & Trading

GlaxoSmithKline

Vodafone

Royal Bank of Scotland

Barclays

British American Tobacco

Lloyds TSB Group

HBOS







                                    - ENDS -



For further information, please call:

Job Curtis

The City of London Investment Trust plc

Telephone: [phone]


Stephen Westwood

Head of Investment Trusts

Henderson Global Investors

Telephone: [phone]


Stephen Phillips

Associate Director

Henderson Global Investors

Telephone: [phone]



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