Portfolio Update

Canadian General Investments Ld
05 May 2008


NEWS RELEASE TRANSMITTED BY MARKETWIRE


FOR: CANADIAN GENERAL INVESTMENTS, LIMITED


TSX SYMBOLS: CGI, CGI.PR.A, CGI.PR.B, CGI.PR.C

LONDON STOCK EXCHANGE: CGI


May 2, 2008


Canadian General Investments: Investment Update - Unaudited

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an
unaudited basis that its net asset value per share (NAV) at April 30, 2008 was
$28.60, resulting in year-to-date and 12-month NAV returns, with dividends
reinvested, of -10.3% and -10.4%, respectively. These compare with the 1.6% and
6.6% 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 April 30, 2008 was $23.78,
resulting in year-to-date and 12-month market returns, with dividends
reinvested, of -15.8% and -9.8%, respectively.

The sector weightings of CGI's investment portfolio at market as of April 30,
2008 were as follows:

Materials                                                                 22.7%
Energy                                                                    21.1%
Financials                                                                19.1%
Industrials                                                               12.2%
Consumer Discretionary                                                     7.4%
Information Technology                                                     6.5%
Telecommunication Services                                                 4.6%
Consumer Staples                                                           3.2%
Utilities                                                                  1.7%
Health Care                                                                0.8%
Cash & Cash Equivalents                                                    0.7%


The top ten investments, which comprised 23.8% of the investment portfolio at
market, excluding non-convertible preferred shares, as of April 30, 2008 were as
follows:

Research In Motion Limited                                                 4.8%
Rogers Communications Inc.                                                 2.8%
Labrador Iron Ore Royalty Income Fund                                      2.6%
BPO Properties Ltd.                                                        2.2%
Urbana Corporation                                                         2.2%
Cameco Corporation                                                         2.1%
TSX Group Inc.                                                             1.9%
Enbridge Inc.                                                              1.8%
Husky Energy Inc.                                                          1.7%
BMTC Group Inc.                                                            1.7%





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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