Funds Under Management

City of London Investment Group PLC
10 March 2008


For release at 0700h, 10 March 2008



                      CITY OF LONDON INVESTMENT GROUP PLC

                       ('City of London', 'the Company')

                 FUNDS UNDER MANAGEMENT AS AT 29 FEBRUARY 2008


City of London Investment Group PLC (AIM: CLIG), a leading emerging market asset
management group announces its total funds under management (FUM) quarterly. At
29 February 2008 the FUM were US$4.6 billion (£2.3 billion). This compares to
$4.6 billion (£2.2 billion) at the Company's half year end on 30 November 2007
and $3.3 billion (£1.7 billion) at 28 February 2007.

City of London expects to announce a trading update in June 2008 in respect of
the year to 31 May 2008, and preliminary results for the period in September
2008.


For further information contact:

Doug Allison                  Jeff Keating/ Fred Walsh/     Simon Hudson
Finance Director              Simon Brown                   Andrew Dunn
City of London Investment     Landsbanki Securities (UK)    Tavistock
Group plc                                                   Communications
Tel: [phone]            Tel: [phone]            Tel: [phone]



NOTES TO EDITORS

City of London is an asset management group whose principal activity is
providing emerging market asset management products and services predominantly
to institutional investors via its principal operating company City of London
Investment Management Company Limited. The Group is based in the UK and also has
offices in the US, Singapore and Dubai. Clients include some of the US's leading
blue chip institutions and endowment funds.


With total funds under management of approximately US$4.6 billion, the Group
manages several Open Ended Funds as well as a number of segregated accounts. The
Group's fund mandates are mainly in emerging markets, although the Group has
more recently diversified its asset management product portfolio by the launch
of a natural resources fund and has also seeded three new funds: a global fund,
a frontier fund and an emerging markets yield fund. The Group seeks to provide
capital growth for clients through active country allocation and stock
selection.




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