1st Quarter Results

Canadian General Investments Ld
19 April 2005



NEWS RELEASE TRANSMITTED BY CCN MATTHEWS

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.A, CGI.PR.B, CGI.WT
LONDON STOCK EXCHANGE: CGI, CGIW

APRIL 19, 2005

Canadian General Investments, Limited
Canadian General Investments Reports 2005 First Quarter Results

TORONTO, CANADA - Canadian General Investments, Limited's (CGI) diluted net
asset value (NAV) return, with dividends reinvested, for the three months ended
March 31, 2005 was 5.9%, outperforming the 4.4% experienced by the benchmark S&P
/TSX Composite Total Return Index (S&P/TSX). CGI's market return, including the
reinvestment of dividends, was 10.5% for the same period.

At March 31, 2005, net assets were $505,253,000, up 6.2% from the 2004 year-end
value of $475,976,000. For the first quarter of 2005, CGI had an increase in net
assets resulting from operations of $34,762,000, or $1.52 per common share on a
diluted basis. For the corresponding period in 2004, the amounts were
$37,923,000 and $1.68, respectively.

The net gain on investments for the first three months of 2005 was $34,583,000,
comprised of a net realized gain of $20,216,000 and a change in unrealized gain
on investments of $14,367,000. There was a net gain on investments of
$35,517,000 during the comparable period in 2004.

Net investment income for the first quarter of 2005 was $179,000, down from the
$2,406,000 recorded in the three-month period in 2004. This decrease was
primarily the result of a special dividend of $3.3 million received from BPO
Properties Limited in March 2004.

During the first quarter of both 2005 and 2004, CGI paid a regular income
dividend of $0.06 per share to its common shareholders. Subsequent to
quarter-end, the Board approved a second quarter income dividend of $0.06 to be
paid on June 15, 2005 to common shareholders of record on May 31.

In order to increase NAV, CGI purchased 36,600 of its warrants for cancellation
during the first quarter of 2005 as a result of its normal course issuer bid.
The corresponding purchase during 2004 was 69,700 warrants.



FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
                                                        Three Months Ended
                                                        --------------------
                                                        ----------   ----------
                                                       March 31,    March 31,
                                                            2005         2004
                                                        ----------   ----------

Net investment income for the period                         179        2,406
Net realized gain on investments                          20,216        8,869
Change in unrealized gain on investments                  14,367       26,648
                                                          --------     --------
Increase in net assets resulting from operations          34,762       37,923

Increase in net assets resulting from operations per
common share - basic                                        1.70         1.85
Increase in net assets resulting from operations per
common share - diluted                                      1.52         1.68

                                                      As at
                                                      -------
                                     ----------        ----------    -----------
                                    March 31,      December 31,      March 31,
                                         2005              2004           2004
                                     ----------        ----------    -----------

Net assets                            505,253           475,976        423,253
Net asset value per share - basic       24.65             23.22          20.66
Net asset value per share - diluted     21.87             20.71          18.47

In the United Kingdom, copies of the Corporation's first quarter report will be
made available at the U.K. branch transfer agent, Computershare Investor
Services PLC, P.O. Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 7NH.
Phone [phone].

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President & CEO
Phone: [phone]
Fax: [phone]
e-mail: [e-mail]
website: www.mmainvestments.com





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