3rd Quarter & 9 Mths Results

Canadian General Investments Ld
18 October 2001



TSE SYMBOLS:  CGI CGI.PR.A, CGI.WT
LONDON STOCK EXCHANGE:  CGIq.L CGIwsq.L

OCTOBER 18, 2001 

Canadian General Investments Reports 2001 Third Quarter Results

TORONTO, CANADA--Canadian General Investments, Limited's (CGI) 
portfolio held its substantial lead relative to its benchmark, the
TSE 300 Total Return Index, despite the continuing bear market 
through the third quarter to September 30. Fully diluted net asset
value per share growth, with distributions reinvested for total 
return, was -10.8% for the three months ended September 30, 
compared to the benchmark return of -11.3%. Over the nine-month 
period, the CGI and Index returns were -13.7% and -22.6%, respectively. 

At September 30, 2001, net assets were $264,972,000 versus a 
year-end 2000 value of $313,309,000. Fully diluted net asset value
per share at quarter-end was $11.96 compared to $13.48 at June 30,
2001 and $14.06 at December 31, 2000. 

Financial Services and Oil and Gas continued to be the largest 
groups in CGI's portfolio with weightings of 18.2% and 17.2%, 
respectively at September 30, 2001. Under-weighting of the 
Industrial Products sector, particularly technology, has been a 
big contributor to the Corporation's relative out-performance of 
the TSE in both the three and nine-month periods. The five largest
equity holdings at September 30, 2001, representing 14.7% of the 
portfolio, were Royal Bank of Canada, Corby Distilleries Limited, 
Suncor Energy, Inc., George Weston Limited and Husky Energy Inc. 

A reduced portfolio value in the third quarter of 2001 resulted in
a net loss on investments of $36,900,000 for that period and a 
cumulative net loss of $45,264,000 over nine months. The 
year-to-date amount is comprised of a net realized gain on 
investments of $10,989,000 and a decrease in unrealized 
appreciation in value of investments of $56,253,000. In the first 
nine months of 2000, CGI had a net gain on investments of 
$51,531,000 when the technology sector was booming. 

For the nine-month period ended September 30, 2001, CGI had net 
investment income of $760,000, compared with a net investment loss
of $1,486,000 in the same period for 2000. The improvement in 2001
was due to an increase in total investment income, reflecting the 
shift in investments towards more income generating securities 
beginning in late 2000. 

During the third quarter, CGI bought in 27,800 of its warrants as 
part of a normal course issuer bid initiated early in the second 
quarter. A total of 49,300 warrants have been bought in to 
September 30, 2001. This activity, which commenced in May, raises 
net asset value per share. 

FINANCIAL HIGHLIGHTS

(in thousands of dollars, except per share amounts)

                  Three Months Ended            Nine Months Ended
              September 30,  September 30,  September 30,  September 30,
                      2001           2000           2001           2000
              ----------------------------------------------------------    
Net investment
 income (loss)         811           (568)           760         (1,486)
Net realized gain 
 on investments      9,515         18,807         10,989         32,962  
Change in unrealized 
appreciation 
in  value of 
 investments       (46,415)        (6,195)       (56,253)        18,569  
                   --------       --------       --------       --------
Increase (decrease) 
in net assets 
 from operations   (36,089)        12,044        (44,504)        50,045      
Increase (decrease) 
in net assets  
from operations -
 per share           (1.76)          0.59          (2.17)          2.44  
 
                              September 30,  December 31,  September 30, 
                                      2001          2000           2000
                              ------------------------------------------   
Net assets                         264,972       313,309        357,022
Net asset value
 per share - basic                   12.94         15.31          17.44
Net asset value 
 per share - fully diluted           11.96         14.06          15.84 

In the United Kingdom, copies of the Corporation's quarterly 
report will be made available at the U.K. Transfer Agent, CIBC 
Mellon Trust Company, Balfour House, 390 High Road, Ilford, Essex,
1G1 1NQ.  Phone [phone]. 



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



TSE SYMBOLS:  CGI CGI.PR.A CGI.WT
LONDON STOCK EXCHANGE:  CGIq.L CGIwsq.L

OCTOBER 18, 2001  

Canadian General Investments, Limited 
Declares Two Cash Dividends On Common Shares

TORONTO, CANADA--Canadian General Investments, Limited today 
declared two fourth quarter cash dividends: a regular quarterly 
dividend of $0.06 per common share and a capital gains dividend of
$0.10 per share. 

Both dividends are payable in cash on December 15, 2001 to 
shareholders of record November 30, 2001. The capital gains 
dividend, which will total $2,048,000, is expected to result in a 
refund to the Corporation of approximately $430,000 capital gains 
tax previously paid. 

This brings year-to-date cash dividend payments for the 2001 year 
to $0.34 per share, representing a total yield to investors of 
4.2% based on the October 17 market price of $8.11. 

The Board of Directors will later in the year consider a further 
capital gains dividend payable in cash, after giving due 
consideration to year 2001 portfolio performance results. 

Canadian General Investments, Limited, established in 1930, is one
of Canada's largest closed-end investment companies with total 
assets in excess of $330 million.  

The Corporation's common shares are listed on the Toronto Stock 
Exchange - symbol CGI and on the London Stock Exchange - symbol 
CGIq.L. Warrants trade in Toronto under the symbol CGI.WT and in 
London under CGIwsq.L. Also outstanding are 2,400,000 preferred 
shares, from the $60,000,000 offering completed on October 5, 
1998, which are listed on the Toronto Stock Exchange - symbol CGI.PR.A. 



FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited
Michael A. Smedley
President
Phone:[phone]
Fax:[phone]   
e-mail:[e-mail]
website:www.mmainvestments.com



TSE SYMBOLS:  CGI CGI.PR.A CGI.WT
LONDON STOCK EXCHANGE:  CGIq.L CGIwsq.L

OCTOBER 18, 2001  

Canadian General Investments, Limited 
Declares Quarterly Dividend on Preference Shares

TORONTO, CANADA--Canadian General Investments, Limited has 
declared a quarterly dividend on its 5.40% Cumulative Redeemable 
Class A Preference Shares, Series 1.  The dividend of $0.3375 per 
share is payable on December 15, 2001 to shareholders of record on
November 30, 2001. 



FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited
Michael A. Smedley
President
Phone:[phone]
Fax:[phone] 
e-mail:[e-mail]
Website:www.mmainvestments.com