Portfolio Update

RNS Number : 1173L

Canadian General Investments Ld

05 January 2009

NEWS RELEASE TRANSMITTED BY MARKETWIRE

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

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

LONDON STOCK EXCHANGE: CGI

January 5, 2009

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 December 31, 2008 was $13.94, resulting in a one-year NAV return, with dividends reinvested, of -55.9%. This compares with the -33.0% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.

The closing price for CGI's common shares at December 31, 2008 was $9.12, resulting in an annual market return, with dividends reinvested, of -67.3%.

The sector weightings of CGI's investment portfolio at market as of December 31, 2008 were as follows:

Cash & Cash Equivalents	19.6%
Energy	17.7%
Financials	13.4%
Materials	12.4%
Industrials	11.7%
Consumer Discretionary	8.4%
Telecommunication Services	7.5%
Consumer Staples	5.6%
Utilities	3.0%
Information Technology	1.0%

The top ten investments which comprised 45.6% of the investment portfolio at market as of December 31, 2008 were as follows:

Canadian Treasury Bills	18.2%
Rogers Communications Inc.	4.2%
Enbridge Inc.	3.4%
Ritchie Bros. Auctioneers Incorporated	3.3%
TransCanada Corporation	3.2%
BMTC Group Inc.	3.2%
Bombardier Inc.	2.6%
Franco-Nevada Corporation	2.6%
Agnico-Eagle Mines Limited	2.5%
Shaw Communications Inc.	2.4%