Investment Update (Unaudited)

Canadian General Investments Ld
10 November 2003


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


NOVEMBER 7, 2003

Canadian General Investments - Investment Update
(Unaudited)

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports that its
diluted net asset value per share (NAV) at October 31, 2003 was $16.24,
resulting in a year-to-date NAV return, with dividends reinvested, of 33.5%.
This compares with the 19.4% return of the benchmark S&P/TSX Composite Total
Return Index for the same period. CGI's year-to-date market return to October
31, with dividends reinvested, was 40.0%.

The sector weightings of the investment portfolio at market as of October 31,
2003 were as follows:

Financials                                                        22.9%
Materials                                                         18.3%
Consumer Discretionary                                            13.3%
Energy                                                            10.9%
Utilities                                                          8.4%
Consumer Staples                                                   7.8%
Telecommunication Services                                         5.1%
Preferred Stocks                                                   4.2%
Information Technology                                             3.2%
Other                                                              5.9%


The ten largest investments, comprising 20.1% of the investment portfolio at
market as of October 31, 2003 were as follows:

Nortel Networks Corporation                                        2.6%
Enbridge Inc.                                                      2.2%
CoolBrands International Inc.                                      2.1%
Corby Distilleries Limited                                         2.0%
Bank of Montreal                                                   1.9%
TSX Group Inc.                                                     1.9%
Home Capital Group Inc.                                            1.9%
BMTC Group Inc.                                                    1.9%
Inco Limited                                                       1.8%
Falconbridge Limited                                               1.8%


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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