Equity Placing

City of London Investment Group PLC
16 February 2007



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


16 February 2007


Equity Placing


Teather & Greenwood are pleased to announce that 3,884,300 shares, representing
14.05 per cent. of the issued share capital of the Company, have today been
placed at a price of 255p. These shares were previously held by AMIC (750,000)
and Scaleoption (3,134,300), original investors in the Company.

Barry Olliff, the Company's Chief Executive Officer, is a 38.15 per cent.
shareholder in Scaleoption and as such this transaction constitutes a Director's
dealing under the AIM rules. His resultant beneficial interest in the Company is
now 3,763,250 shares, representing 14.05 per cent. of the issued share capital
of the Company, with his direct shareholding unchanged at this level.



Enquiries:

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

Teather & Greenwood
Fred Walsh
Tel: [phone]

Tavistock Communications
Simon Hudson / John West / Clemmie Carr
Tel: [phone]





                      This information is provided by RNS
            The company news service from the London Stock Exchange