Portfolio Update

Canadian General Investments Ld
09 May 2005


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

May 5, 2005

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 29,
2005 was $20.90, resulting in a year-to-date NAV return, with dividends
reinvested, of 1.2%. This compares with the 1.9% return of the benchmark S&P/TSX
Composite Total Return Index for the same period. The year-to-date market return
for CGI's common shares to April 29, with dividends reinvested, was 7.6%.

For the 12 months ended April 29, 2005, CGI's NAV and market returns were 25.2%
and 30.9%, respectively. The benchmark posted 15.7% for the same period.

The sector weightings of CGI's investment portfolio at market as of April 29,
2005 were as follows:

Financials                                                                25.1%
Energy                                                                    18.7%
Materials                                                                 17.9%
Industrials                                                                8.8%
Consumer Discretionary                                                     8.3%
Consumer Staples                                                           6.4%
Telecommunication Services                                                 4.4%
Preferred Shares                                                           3.7%
Other                                                                      6.7%

The top ten investments, which comprised 18.9% of the investment portfolio at
market, excluding cash and non-convertible preferred shares, as of April 29,
2005 were as follows:

Cameco Corporation                                                         2.9%
TSX Group Inc.                                                             2.0%
TELUS Corporation                                                          2.0%
Home Capital Group Inc.                                                    1.9%
Enbridge Inc.                                                              1.9%
Rogers Communications Inc.                                                 1.7%
National Bank of Canada                                                    1.7%
Corby Distilleries Limited                                                 1.6%
Power Financial Corporation                                                1.6%
TransCanada Corporation                                                    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




                      This information is provided by RNS
            The company news service from the London Stock Exchange