Portfolio Update

RNS Number : 5182J

Canadian General Investments Ld

03 December 2008

NEWS RELEASE TRANSMITTED BY MARKETWIRE

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

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

LONDON STOCK EXCHANGE: CGI

December 3, 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 November 30, 2008 was $13.68, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -56.7% and -55.3%, respectively. These compare with the -31.2% and -30.3% 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 November 30, 2008 was $9.45, resulting in year-to-date and 12-month market returns, with dividends reinvested, of -66.1% and -65.7%, respectively.

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

Energy	18.4%
Cash & Cash Equivalents	16.2%
Financials	14.9%
Industrials	11.0%
Consumer Discretionary	10.1%
Materials	9.2%
Telecommunication Services	7.6%
Consumer Staples	4.6%
Utilities	3.2%
Information Technology	2.1%

The top ten investments, which comprised 40.2% of the investment portfolio at market, excluding non-convertible preferred shares, as of November 30, 2008 were as follows:

Canadian Cash	8.8%
Canadian Treasury Bills	7.4%
Rogers Communications Inc.	4.1%
BMTC Group Inc.	3.4%
TransCanada Corporation	3.2%
Enbridge Inc.	3.2%
Ritchie Bros. Auctioneers Incorporated	3.0%
Bombardier Inc.	2.5%
Shaw Communications Inc.	2.4%
Labrador Iron Ore Royalty Income Fund	2.2%