Portfolio Update

Canadian General Investments Ld
07 May 2007


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, 2007


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,
2007 was $33.84, resulting in year-to-date and 12-month NAV returns, with
dividends reinvested, of 8.2% and 22.2%, respectively. This compares with the
4.7% and 12.7% 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 April 30 was $27.94, resulting in
year-to-date and 12-month market returns with dividends reinvested of 2.2% and
4.4%, respectively.


The sector weightings of CGI's investment portfolio at market as of April 30,
2007 were as follows:

Financials                                                                26.7%
Materials                                                                 23.0%
Energy                                                                    21.6%
Industrials                                                                9.4%
Consumer Discretionary                                                     6.8%
Telecommunication Services                                                 4.0%
Information Technology                                                     3.8%
Consumer Staples                                                           2.0%
Utilities                                                                  1.5%
Health Care                                                                1.0%
Cash & Cash Equivalents                                                    0.2%


The top ten investments, which comprised 19.5% of the investment portfolio at
market, excluding non-convertible preferred shares, as of April 30, 2007 were as
follows:

Cameco Corporation                                                         2.7%
Rogers Communications Inc.                                                 2.6%
BPO Properties Ltd.                                                        2.2%
TSX Group Inc.                                                             1.9%
HudBay Minerals Inc.                                                       1.8%
Russel Metals Inc.                                                         1.8%
BMTC Group Inc.                                                            1.7%
Bourse de Montreal Inc.                                                    1.6%
Research In Motion Limited                                                 1.6%
Caldwell New York Limited Partnership                                      1.6%


Note 1: CGI's investment in NYSE Euronext, Inc. 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, 2007.






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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