2nd Quarter Results

Canadian General Investments Ld
20 July 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

JULY 19, 2005

Canadian General Investments Reports 2005 Second Quarter Results

TORONTO, CANADA - Canadian General Investments, Limited's (CGI) diluted net
asset value per share (NAV) return, with dividends reinvested, for the three,
six and twelve month periods ended June 30, 2005 were 1.9%, 7.9% and 29.3%,
respectively. By comparison, the returns of the benchmark S&P/TSX Composite
Total Return Index (S&P/TSX) for the same periods were 3.6%, 8.1% and 18.0%.
CGI's market returns to common shareholders were 9.2% for the second quarter,
20.7% year-to-date and nearly 50% over the twelve months to June 30, 2005.

At June 30, 2005, net assets were $513,215,000, up 7.8% from the 2004 year-end
value of $475,976,000. For the first six months of 2005, CGI had an increase in
net assets resulting from operations of $47,610,000, or $2.09 per common share
on a diluted basis. For the corresponding period in 2004, the increase was
$27,933,000 or $1.24 per share.

The net gain on investments for the first six months of 2005 was $47,116,000,
comprised of a net realized gain of $38,845,000 and a change in unrealized gain
on investments of $8,271,000. There was a net gain on investments of $25,325,000
during the comparable period in 2004.

Net investment income for the first half of 2005 was $494,000, down from the
$2,608,000 recorded in the six-month period in 2004. This decrease was due to a
special dividend of $3.3 million that was received from BPO Properties Limited
in March 2004.

In order to increase NAV, CGI purchased 85,800 of its warrants for cancellation
during the first half of 2005 pursuant to its normal course issuer bid which was
renewed in April 2005. Also, on June 30, 2005, warrant holders exercised 74,302
warrants at $5.22 per share. Outstanding warrants continue to be exercisable on
June 30 of each year until their expiration in 2007.

During each of the first two quarters of both 2005 and 2004, CGI paid regular
income dividends of $0.06 per share to its common shareholders.





FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
                                     Three Months Ended     Six Months Ended
                                     --------------------   ------------------
                                     ----------  ---------  ---------  ---------
                                     June 30,   June 30,   June 30,   June 30,
                                         2005       2004       2005       2004
                                     ----------  ---------  ---------  ---------

Net investment income for the
period                                    315        202        494      2,608
Net realized gain on investments       18,629     13,145     38,845     22,014
Change in unrealized gain on
investments                            (6,096)   (23,337)     8,271      3,311
                                      --------- ----------    -------    -------
Increase (decrease) in net assets
resulting                              
from operations                        12,848     (9,990)    47,610     27,933
Increase (decrease) in net assets
resulting from                           
operations per common share -
basic                                    0.63      (0.49)      2.32       1.36
Increase (decrease) in net assets
resulting from                           
operations per common share -
diluted                                  0.56      (0.45)      2.09       1.24

                                                     As at
                                     ----------          ---------     ---------
                                     June 30,       December 31,      June 30,
                                         2005               2004          2004
                                     ----------          ---------     ---------

Net assets                            513,215            475,976       409,589
Net asset value per share - basic       24.94              23.22         19.98
Net asset value per share - diluted     22.22              20.71         17.91

In the United Kingdom, copies of the Corporation's quarterly 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
0117-941-7781.

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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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