Dividend Declaration

Canadian General Investments Ld
01 December 2004



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

DECEMBER 1, 2004

Canadian General Investments, Limited
Declares a Special Year-End Capital Gains Dividend

TORONTO, CANADA -- Canadian General Investments, Limited today declared a
special cash capital gains dividend of $0.60 per common share. This dividend is
payable on December 31, 2004 to shareholders of record on December 20, 2004.

The Board of Directors has opted to pay this special dividend in recognition of
the strong performance of the portfolio year-to-date. Including the quarterly
income dividends of $0.06 per common share, total cash dividend payments of
$0.84 per common share in 2004 represent a yield to investors of 5.6% based on
the November month-end closing market price of $15.02.

Canadian General Investments, Limited, established in 1930, is one of Canada's
largest closed-end investment companies with total portfolio assets in excess of
$600 million as at November 30, 2004.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
Vice-President
Phone: [phone]
Fax: [phone]
e-mail: [e-mail]
website: www.mmainvestments.com





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