Transaction in Own Shares

City of London Investment Trust PLC
18 December 2007

HENDERSON GLOBAL INVESTORS

THE CITY OF LONDON INVESTMENT TRUST PLC

18 December 2007



                    THE CITY OF LONDON INVESTMENT TRUST PLC

                Market Purchase by the Company of its Own Shares

Notification is given that pursuant to the authority granted at the Annual
General Meeting of the Company held on 10 October 2007 to make market purchases
of the Company's own shares of 25p, a market purchase of 38,026 ordinary shares
in the capital of the Company was made today at a price of 277p per share.  The
shares will be held in Treasury.

The issued share capital of the Company following this purchase is still
207,574,868 ordinary shares of 25p each. The number of ordinary shares to be
used in the calculation of voting rights is now 207,350,671.

The figure to be used as the denominator for calculations of interests in the
Company's voting rights on a poll is 13,883,060 comprising:


a)         13,823,378 in respect of the Ordinary Shares (one vote for every 15
           shares held);

b)         30,198 in respect of the First Preference Stock (one vote for every
           £10 of stock held); and
           
c)         29,484 in respect of the Preferred Ordinary Stock (one vote for every
           £20 of stock held).



                                    - ENDS -

For further information please contact:

Job Curtis
The City of London Investment Trust plc
Telephone:  [phone]

James de Sausmarez
Head of Investment Trusts, Henderson Global Investors
Telephone: [phone]



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