Funds Under Management

City of London Investment Group PLC
12 March 2007


For release at 0700h, 12 March 2007


                      CITY OF LONDON INVESTMENT GROUP PLC

                 FUNDS UNDER MANAGEMENT AS AT 28 FEBRUARY 2007


City of London Investment Group PLC (AIM: CLIG), a leading emerging market asset
management group announces its total funds under management (FUM) quarterly. As
at 28 February 2007, FUM were US$3.3 billion (£1.7 billion). This compares to
US$3.1 billion (£1.6 billion) at the half year end (30 November 2006).



For further information contact:
Doug Allison                                    Simon Hudson /
Finance Director                                Clemmie Carr
City of London Investment Group Plc             Tavistock Communications
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 and Singapore. Clients include some of the US's leading blue
chip institutions and endowment funds.

With total funds under management of approximately US$3.3 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