Dividend Declaration/Finals

Canadian General Investments Ld
8 February 2002



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

FEBRUARY 7, 2002

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 regular quarterly cash dividend of $0.06 per share is payable on March 15,
2002 to common shareholders of record at the close of business on February 28,
2002.

A cash dividend of $0.3375 per share is payable on March 15, 2002 to
shareholders of the Corporation's 5.40% Cumulative Redeemable Class A Preference
Shares, Series 1 of record at the close of business on February 28, 2002.

FOR FURTHER INFORMATION PLEASE CONTACT:

Michael A. Smedley 
President 
Phone:[phone] 
Fax:[phone] 
e-mail: [e-mail] 
website: www.mmainvestments.com              

FEBRUARY 7, 2002

Canadian General Investments, Limited  
Canadian General Investments Reports 2001 Operating Results

TORONTO, CANADA - After a strong fourth quarter, Canadian General Investments,
Limited (CGI) finished the year with net assets of $298,546,000. Fully diluted
net asset value per share at year-end was $13.34 compared to $14.06 at December
31, 2000. The fully diluted net asset value per share return for 2001, with
distributions reinvested, was -1.5%. By comparison, the benchmark TSE 300
Total Return Index was down 12.6% for the same period. Under-weighting of the
Industrial Products sector, particularly technology, was a big contributor to
the Corporation's relative out-performance of the TSE.

Market performance during 2001 resulted in a net loss on investments of
$6,362,000, comprised of a net realized gain on investments of $11,304,000 and a
decrease in unrealized appreciation of investments of $17,666,000. There was a
net gain in the previous year of $10,130,000. Net investment income for the year
was $846,000 versus a net investment loss of $1,789,000 in 2000. The improvement
in 2001 was largely a result of a 45.4% increase in total investment income,
reflecting the shift toward more income-generating securities which began in
late 2000.

In addition to four quarterly income dividends totalling $0.24 per common share
for the year, CGI also paid two capital gains cash dividends totalling $0.25 per
common share in December. These distributions together represented a yield to
investors of 5.3%, based on the year-end common share closing price of $9.25.

During the year, CGI bought in 78,300 of its warrants for cancellation as a
result of a normal course issuer bid initiated in the second quarter. Purchase
and cancellation of the warrants increases fully diluted net asset value per
share.

In accordance with the warrant indenture, the warrant exercise price has been
reduced from $6.94 to $6.50 as a result of cash dividends paid in excess of net
income in 2001.

FINANCIAL HIGHLIGHTS (in thousands of dollars, except per share amounts)

                                                     Twelve Months Ended        
                                    December 31, 2001       December 31, 2000  
Net investment income (loss)                      846                (1,789) 
Net realized gain on investments               11,304                33,785
Change in unrealized appreciation in value 
of Investments                                (17,666)              (23,655) 
Increase (decrease) in net assets from
operations                                     (5,516)                8,341 

Increase (decrease) in net assets 
from operations - per share                     (0.27)                 0.39

                                                      As at              
                                     December 31, 2001      December 31, 2000  
Net assets                                     298,546              313,309 
Net asset value per share - basic                14.58                15.31 
Net asset value per share - fully diluted        13.34                14.06







In the United Kingdom, copies of the Corporation's annual report will be made
available at the U.K. Transfer Agent, CIBC Mellon Trust Company, Balfour House,
390 High Road, IIford, 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              






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