Investment Update - unaudited

Canadian General Investments Ld
03 November 2006


NEWS RELEASE TRANSMITTED BY CCN MATTHEWS


FOR: CANADIAN GENERAL INVESTMENTS, LIMITED


TSX SYMBOLS: CGI, CGI.PR.A, CGI.PR.B, CGI.PR.C, CGI.WT

LONDON STOCK EXCHANGE: CGI, CGIW


November 3, 2006


Canadian General Investments: Investment Update - Unaudited


TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an
unaudited basis that its diluted net asset value per share (NAV) at October 31,
2006 was $29.69, resulting in year-to-date and 52 week NAV returns, with
dividends reinvested, of 17.8% and 33.8%, respectively. This compares with the
9.5% and 18.9% returns of the benchmark S&P/TSX Composite Index on a total
return basis for the same periods.


The closing price for CGI's common shares at October 31 was $26.60, resulting in
year-to-date and 52 week market returns with dividends reinvested of 15.4% and
41.6%, respectively.


The sector weightings of CGI's investment portfolio at market as of October 31,
2006 were as follows:

Financials                                                                27.1%
Materials                                                                 20.9%
Energy                                                                    20.0%
Industrials                                                               10.2%
Consumer Discretionary                                                     6.4%
Information Technology                                                     4.8%
Telecommunication Services                                                 4.1%
Consumer Staples                                                           3.2%
Health Care                                                                1.6%
Utilities                                                                  1.4%
Cash & Cash Equivalents                                                    0.3%


The top ten investments, which comprised 20.0% of the investment portfolio at
market, excluding non-convertible preferred shares, as of October 31, 2006 were
as follows:

TSX Group Inc.                                                             2.6%
Rogers Communications Inc.                                                 2.6%
Cameco Corporation                                                         2.5%
HudBay Minerals Inc.                                                       2.2%
BPO Properties Ltd.                                                        1.9%
Research In Motion Limited                                                 1.7%
Russel Metals Inc.                                                         1.7%
BMTC Group Inc.                                                            1.6%
First Capital Realty Inc.                                                  1.6%
Skye Resources Inc.                                                        1.6%



Note 1: CGI's investment in the New York Stock Exchange through its holdings in
Caldwell New York Limited Partnership and Caldwell New York LP IV represented
2.7% of its investment portfolio at October 31, 2006.






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FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited

Jonathan A. Morgan

President and CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.mmainvestments.com



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