Investment Update - Unaudited

Canadian General Investments Ld
02 November 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

November 2, 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 October 31,
2005 was $23.47, resulting in a year-to-date NAV return, with dividends
reinvested, of 14.2%. This compares with the 13.8% return of the benchmark S&P/
TSX Composite Total Return Index for the same period.

The closing price for CGI's common shares at October 31 was $19.57, resulting in
a year-to-date market return with dividends reinvested of 28.0%.

For the 12 months ended October 31, 2005, CGI's NAV and market returns were
31.2% and 48.1%, respectively. The benchmark posted 19.1% for the same period.

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

Energy                                                                    27.3%
Financials                                                                24.0%
Materials                                                                 13.9%
Consumer Discretionary                                                     9.3%
Industrials                                                                8.5%
Consumer Staples                                                           4.8%
Telecommunication Services                                                 4.0%
Utilities                                                                  2.9%
Preferred Shares                                                           2.6%
Other                                                                      2.7%

The top ten investments, which comprised 21.3% of the investment portfolio at
market, excluding cash and non-convertible preferred shares, as of October 31,
2005 were as follows:

Rogers Communications Inc.                                                 3.2%
Cameco Corporation                                                         3.1%
TSX Group Inc.                                                             2.4%
TELUS Corporation                                                          2.1%
Enbridge Inc.                                                              1.9%
Falconbridge Limited                                                       1.9%
Home Capital Group Inc.                                                    1.8%
National Bank of Canada                                                    1.7%
Corby Distilleries Limited                                                 1.6%
Shore Gold Inc.                                                            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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