Investment Update

Canadian General Investments Ld
05 March 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: CGIq.L, CGIwsq.L

March 5, 2004

Canadian General Investments - Investment Update
(Unaudited)

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports that its
diluted net asset value per share (NAV) at February 27, 2004 was $18.66,
resulting in a year-to-date NAV return, with dividends reinvested, of 9.1%. This
compares with the 7.1% return of the benchmark S&P/TSX Composite Total Return
Index for the same period. The year-to-date market return for CGI's common
shares to February 27, with dividends reinvested, was 10.2%.

For the 12 months ended February 27, 2004, CGI's NAV and market returns were
58.6% and 77.6%, respectively. The benchmark posted 36.5% for the same period.

The sector weightings of CGI's investment portfolio at market as of February 27,
2004 were as follows:

Financials                                                        26.7%
Materials                                                         14.4%
Energy                                                            14.4%
Consumer Discretionary                                             9.8%
Utilities                                                          6.9%
Information Technology                                             6.5%
Preferred Shares                                                   5.2%
Consumer Staples                                                   4.7%
Telecommunication Services                                         3.9%
Industrials                                                        3.8%
Other                                                              3.7%

The top ten investments, excluding cash, short-term investments and
non-convertible preference shares, comprising 18.6% of the investment portfolio
at market as of February 27, 2004 were as follows:

Nortel Networks Corporation                                        2.7%
Home Capital Group Inc.                                            2.3%
TSX Group Inc.                                                     2.0%
Brascan Corporation                                                1.8%
Corby Distilleries Limited                                         1.7%
Enbridge Inc.                                                      1.7%
BMTC Group Inc.                                                    1.7%
Bank of Montreal                                                   1.7%
Royal Bank of Canada                                               1.5%
Southwestern Resources Corp.                                       1.5%

-30-

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




                      This information is provided by RNS
            The company news service from the London Stock Exchange