Investment Update

Canadian General Investments Ld
05 October 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


October 4, 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 September
29, 2006 was $27.50, resulting in year-to-date and 12 month NAV returns, with
dividends reinvested, of 9.1% and 13.9%, respectively. This compares with the
6.2% and 9.2% 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 September 29 was $24.68, resulting
in year-to-date and 12 month market returns with dividends reinvested of 7.1%
and 16.5%, respectively.


The sector weightings of CGI's investment portfolio at market as of September
29, 2006 were as follows:

Financials                                                                28.8%
Energy                                                                    19.7%
Materials                                                                 19.4%
Industrials                                                               10.6%
Consumer Discretionary                                                     6.5%
Information Technology                                                     4.5%
Telecommunication Services                                                 4.1%
Consumer Staples                                                           3.1%
Health Care                                                                1.8%
Utilities                                                                  1.4%
Cash & Cash Equivalents                                                    0.1%


The top ten investments, which comprised 19.8% of the investment portfolio at
market, excluding non-convertible preferred shares, as of September 29, 2006
were as follows:

TSX Group Inc.                                                             2.7%
Cameco Corporation                                                         2.7%
Rogers Communications Inc.                                                 2.5%
BPO Properties Ltd.                                                        1.9%
Russel Metals Inc.                                                         1.7%
First Capital Realty Inc.                                                  1.7%
HudBay Minerals Inc.                                                       1.7%
BMTC Group Inc.                                                            1.7%
Caldwell New York Limited Partnership                                      1.6%
Research In Motion Limited                                                 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
2.9% of its investment portfolio at September 29, 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



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