Investment Update - Unaudited

Canadian General Investments Ld
06 June 2005


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

June 3, 2005

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 May 31, 2005
was $21.58, resulting in a year-to-date NAV return, with dividends reinvested,
of 4.8%. This compares with the 4.6% 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 May 31, with dividends reinvested, was 13.2%.

For the 12 months ended May 31, 2005, CGI's NAV and market returns were 28.2%
and 41.8%, respectively. The benchmark posted 16.2% for the same period.

The sector weightings of CGI's investment portfolio at market as of May 31, 2005
were as follows:

Financials                                                                23.2%
Energy                                                                    19.0%
Materials                                                                 17.7%
Industrials                                                               10.3%
Consumer Discretionary                                                     7.6%
Consumer Staples                                                           6.4%
Telecommunication Services                                                 4.8%
Preferred Shares                                                           3.9%
Information Technology                                                     3.5%
Other                                                                      3.6%

The top ten investments, which comprised 19.0% of the investment portfolio at
market, excluding cash and non-convertible preferred shares, as of May 31, 2005
were as follows:

Cameco Corporation                                                         3.0%
TSX Group Inc.                                                             2.2%
TELUS Corporation                                                          2.1%
Enbridge Inc.                                                              1.9%
Home Capital Group Inc.                                                    1.8%
National Bank of Canada                                                    1.6%
Corby Distilleries Limited                                                 1.6%
TransCanada Corporation                                                    1.6%
Noranda Inc.                                                               1.6%
Research In Motion Limited                                                 1.6%




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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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