Buyback & Directors' Dealing

City of London Investment Group PLC
29 February 2008



City of London Investment Group plc
('the Company')


29 February 2008


Share Buyback and Directors' Dealing

City of London Investment Group plc ('the Company') is pleased to announce that
it has facilitated the placing of FMH's holding of 7,929,425 shares in the
Company at a price of 320p per share, through a Company buyback, purchases by
the Company Employee Share Option Plan ('ESOP'), Directors and through
institutional purchases, arranged by Landsbanki Securities and Evolution
Securities.

The Company has purchased for cancellation 1,417,300 Ordinary Shares of 1p each
in the Company at a price of 320 pence. Following the cancellation of these
Ordinary Shares, the Company's issued ordinary share capital with voting rights
will be 25,360,500 Ordinary Shares.

Barry Olliff, CEO, has purchased 625,000 ordinary shares of 1p each in the
Company at a price of 320 pence per share, taking his total shareholding to
4,575,750 Ordinary Shares, representing 18.0% of the Company's issued share
capital following the buyback. In addition, David Cardale, a non-executive
director of the Company, has purchased 156,250 Ordinary Shares. This
shareholding represents 0.6% of the Company's issued share capital following the
buyback.

The ESOP has purchased 400,000 ordinary shares of 1p each in the Company at a
price of 320 pence per share.

The remainder of FMH's holding, totalling 5,330,875 ordinary shares, has been
placed with institutional investors at a price of 320p.




Enquiries:

Doug Allison,
Finance Director
City of London Investment Group plc
Tel: [phone]

Jeff Keating/ Fred Walsh
Landsbanki Securities (UK)
Tel: [phone]


Tom Price
Evolution Securities
Tel: [phone]


Simon Hudson/ Andrew Dunn
Tavistock Communications
Tel: [phone]




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