Portfolio Update

Canadian General Investments Ld
10 January 2006


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

January 9, 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 December 31,
2005 was $25.37, resulting in a one-year NAV return, with dividends reinvested,
of 28.8%. This compares with the 24.1% return of the benchmark S&P/TSX Composite
Total Return Index for the same period.

The closing price for CGI's common shares at December 31 was $23.20, resulting
in a one-year market return with dividends reinvested of 58.9%.

The sector weightings of CGI's investment portfolio at market as of December 31,
2005 were as follows:

     Financials                                            26.4%
     Energy                                                25.8%
     Materials                                             13.6%
     Industrials                                           8.0%
     Consumer Discretionary                                7.2%
     Telecommunication Services                            6.7%
     Consumer Staples                                      4.2%
     Information Technology                                2.9%
     Preferred Shares                                      2.2%
     Other                                                 3.0%

The top ten investments, which comprised 22.0% of the investment portfolio at
market, excluding cash and non-convertible preferred shares, as of December 31,
2005 were as follows:

     Cameco Corporation                                     3.4%
     Rogers Communications Inc., B NV                       3.0%
     TSX Group Inc.                                         2.9%
     Falconbridge Limited, LV                               2.2%
     TELUS Corporation                                      2.1%
     Enbridge Inc.                                          1.8%
     Shore Gold Inc.                                        1.7%
     First Capital Realty Inc.                              1.7%
     Home Capital Group Inc.                                1.6%
     BMTC Group Inc., A SV                                  1.6%




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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

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