Dividend Declaration

CANADIAN GENERAL INVESTMENTS, LIMITED
18 August 1999

Re: Canadian General Investments, Limited
    Declares Dividends on Common and Preference Shares

TORONTO, CANADA -- Canadian General Investments, Limited has declared quarterly
dividends on its common and preference shares.

A capital gains dividend of $0.075 per share is payable on September 15, 1999 to
common shareholders of record at the close of business on August 31, 1999.

A dividend of $0.3375 per share is payable on September 15, 1999 to shareholders
of the Corporation's 5.40% Cumulative Redeemable Class A Preference Shares,
Series 1 of record at the close of business on August 31, 1999.

For further information please contact: 
Michael A. Smedley
President
Phone: [phone]
Fax: [phone]
e-mail: [e-mail]