Notifiable Interest

RNS Number:2377Q
City of London Investment Group PLC
17 March 2008

City of London Investment Group PLC ("the Company")

Notifiable Interest

A form TR-1 containing the following information has been received by the
Company.

TR-1 notification of major interests in shares

1. Identity of the issuer or the underlying issuer of existing shares to which
voting rights are attached:

City of London Investment Group PLC

2. Reason for the notification

Other (please specify): Due to decrease in Issued Share Capital

3. Full name of person(s) subject to the notification obligation:

Merrill Lynch British Smaller Companies Trust plc

4. Full name of shareholder(s) (if different from 3):

5. Date of the transaction (and date on which the threshold is crossed or
reached if different):

N/A

6. Date on which issuer notified:

14 March 2008

7. Threshold(s) that is/are crossed or reached:

Gone above 4%

8. Notified details:

A: Voting rights attached to shares
Class/type of Situation previous to Resulting situation after the triggering transaction
shares Triggering transaction
Notification required under DTR transitional provision 7
if possible using
ISIN CODE Number of Number of Number of shares Number of voting rights % of voting rights
Shares Voting Rights

Direct Indirect Direct Indirect Direct Indirect
GB00B104RS51 834,139 834,139 1,069,277 1,069,277 N/A 4.21% N/A

B: Financial Instruments
Resulting situation after the triggering transaction

Type of financial Expiration date Exercise/ Number of voting % of voting rights
instrument Conversion Period/ rights that may be
Date acquired if the
instrument is
exercised/ converted

Total (A+B)
Number of voting rights % of voting rights

1,069,277 4.21%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:

10. Name of the Proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

14. Contact name:

15. Contact telephone number: