Normal Course Issuer Bid

Canadian General Investments Ld
16 May 2002


Canadian General Investments Announces 
Normal Course Issuer Bid For Outstanding Warrants


Toronto, Ontario, April 19, 2002 - Canadian General Investments, Limited ('CGI')
(TSE: 'CGI'; 'CGI.PR.A', 'CGI.WT'.) announced today acceptance by The Toronto
Stock Exchange (the 'TSE') of CGI's Notice of Intention to commence a Normal
Course Issuer Bid (the 'NCIB'). Pursuant to the NCIB, CGI proposes to purchase
for cancellation from time to time, if it is considered advisable, up to
196,686 of its outstanding warrants (the 'Warrants') representing 5% of the
3,933,734 outstanding Warrants as at April 19, 2002, through the facilities of
the TSE commencing April 23, 2002. The Warrants are exercisable for common
shares of CGI on a one-for-one basis on June 30 of each year until June 30,
2007. The Board of Directors of CGI believes that such purchases are in the best
interests of CGI and are a desirable use of corporate funds. The NCIB will
expire on April 22, 2003.

In April 2001, CGI announced a similar bid with respect to the Warrants. Under
that bid, which expires April 22, 2002, an aggregate of 125,900 Warrants have
been repurchased and cancelled to date, at an average price of $4.13, excluding
commission.

Canadian General Investments, Limited, established in 1930, is one of Canada's
largest closed-end investment companies with portfolio assets in excess of $376
million. Focussed on medium to long-term investments in Canadian corporations,
it strives, through prudent security selection, timely recognition of capital
gains and appropriate income generating investments, to provide better than
average returns to investors.



FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited
Michael A. Smedley
President
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