Net Asset Value(s)

Canadian General Investments Ld
05 December 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


December 5, 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 November 30,
2006 was $31.78, resulting in year-to-date and 12 month NAV returns, with
dividends reinvested, of 26.3% and 36.3%, respectively. This compares with the
15.5% and 20.6% 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 November 30 was $26.88, resulting
in year-to-date and 12 month market returns with dividends reinvested of 16.9%
and 27.6%, respectively.


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

Financials                                                                27.5%
Materials                                                                 21.4%
Energy                                                                    20.4%
Industrials                                                                9.4%
Consumer Discretionary                                                     5.3%
Information Technology                                                     4.3%
Telecommunication Services                                                 3.8%
Consumer Staples                                                           3.1%
Health Care                                                                1.7%
Cash & Cash Equivalents                                                    1.7%
Utilities                                                                  1.4%


The top ten investments, which comprised 20.9% of the investment portfolio at
market, excluding non-convertible preferred shares, as of November 30, 2006 were
as follows:

Rogers Communications Inc.                                                 2.6%
Cameco Corporation                                                         2.6%
BPO Properties Ltd.                                                        2.4%
TSX Group Inc.                                                             2.3%
HudBay Minerals Inc.                                                       2.2%
Caldwell New York Limited Partnership*                                     2.0%
Research In Motion Limited                                                 2.0%
Russel Metals Inc.                                                         1.7%
First Capital Realty Inc.                                                  1.6%
Canadian Western Bank                                                      1.5%



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
3.5% of its investment portfolio at November 30, 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