Normal Course Issuer Bid

Canadian General Investments Ld
22 April 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

APRIL 21, 2005

Canadian General Investments Announces
Normal Course Issuer Bid For Outstanding Warrants

TORONTO, CANADA - Canadian General Investments, Limited ('CGI') (TSX: 'CGI';
'CGI.WT') announced today acceptance by the Toronto Stock Exchange (the 'TSX')
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 169,644 of its outstanding
warrants (the 'Warrants') representing 5% of the 3,392,886 outstanding Warrants
as at April 20, 2005, through the facilities of the TSX commencing April 25,
2005. 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 24, 2006.

In April 2004, CGI announced a similar bid with respect to the Warrants. Under
that bid, which expires April 22, 2005, an aggregate of 133,600 Warrants have
been repurchased and cancelled to date, at an average price of $9.33, 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 $643
million as at the end of the most recent quarter, March 31, 2005. 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
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