Monthly Investment Update

Canadian General Investments Ld
03 May 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


May 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 April 30,
2006 was $28.95, resulting in a year-to-date NAV return, with dividends
reinvested, of 14.4%. This compares with the 8.9% return of the benchmark S&P/
TSX Composite Index on a total return basis for the same period.


The closing price for CGI's common shares at April 30 was $28.49, resulting in a
12 month market return with dividends reinvested of 81.9%. The benchmark posted
32.7% for the same period.


The sector weightings of CGI's investment portfolio at market as of April 30,
2006 were as follows:

Financials                                                                29.4%
Energy                                                                    22.2%
Materials                                                                 18.9%
Industrials                                                                8.9%
Consumer Discretionary                                                     5.3%
Information Technology                                                     4.0%
Telecommunication Services                                                 3.4%
Consumer Staples                                                           3.0%
Preferred Shares                                                           1.7%
Health Care                                                                1.6%
Other                                                                      1.6%


The top ten investments, which comprised 18.9% of the investment portfolio at
market, excluding non-convertible preferred shares, as of April 30, 2006 were as
follows:

Cameco Corporation                                                         2.8%
TSX Group Inc.                                                             2.4%
Falconbridge Limited                                                       2.3%
Rogers Communications Inc.                                                 2.1%
Home Capital Group Inc.                                                    1.8%
Research in Motion                                                         1.6%
BMTC Group Inc.                                                            1.6%
GMP Capital Trust                                                          1.5%
First Capital Realty Inc.                                                  1.4%
Russel Metals Inc.                                                         1.4%



Note: CGI's investment in the New York Stock Exchange, both directly and
indirectly through its holdings in Caldwell New York Limited Partnership and
Caldwell New York LP IV represented 2.8% of its investment portfolio at April
30, 2006.






-30-



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