Dividend Declaration

Canadian General Investments Ld
4 December 2001

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


Canadian General Investments, Limited 
Declares a Special Cash Dividend on Common Shares

TORONTO, CANADA - Canadian General Investments, Limited today declared a special
cash capital gains dividend of $0.15 per common share. This dividend is payable 
on December 31, 2001 to shareholders of record December 17, 2001.

This dividend, combined with the previously declared capital gains dividend of 
$0.10 which is payable on December 15, 2001, is expected to result in a refund 
to the Corporation of approximately $1,075,000 in capital gains tax previously 
paid.

Total cash dividend payments of $0.49 per common share for the year 2001 
represent a yield to investors of 5.8% based on the December 3, 2001 market 
price of $8.51.

Canadian General Investments, Limited, established in 1930, is one of Canada's 
largest closed-end investment companies with total assets in excess of $345 
million.

The Corporation's common shares are listed on the Toronto Stock Exchange - 
symbol CGI and on the London Stock Exchange - symbol CGlq.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