Portfolio Update

Canadian General Investments Ld
04 August 2006


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


August 3, 2006


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 July 31,
2006 was $27.64, resulting in year-to-date and 12 month NAV returns, with
dividends reinvested, of 9.4% and 21.8%, respectively. This compares with the
6.3% and 15.9% 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 July 31 was $24.45, resulting in
year-to-date and 12 month market returns with dividends reinvested of 5.9% and
22.6%, respectively.


The sector weightings of CGI's investment portfolio at market as of July 31,
2006 were as follows:

Financials                                                                28.5%
Energy                                                                    20.0%
Materials                                                                 21.2%
Industrials                                                               10.8%
Consumer Discretionary                                                     5.2%
Information Technology                                                     4.1%
Telecommunication Services                                                 3.3%
Consumer Staples                                                           3.1%
Health Care                                                                2.1%
Utilities                                                                  1.3%
Cash & Cash Equivalents                                                    0.4%


The top ten investments, which comprised 21.1% of the investment portfolio at
market, excluding non-convertible preferred shares, as of July 31, 2006 were as
follows:

Cameco Corporation                                                         3.0%
Falconbridge Limited                                                       2.9%
TSX Group Inc.                                                             2.6%
Rogers Communications Inc.                                                 2.0%
HudBay Minerals Inc.                                                       1.9%
Inco Limited                                                               1.8%
Russel Metals Inc.                                                         1.8%
BMTC Group Inc.                                                            1.7%
BPO Properties Limited                                                     1.7%
Canadian Western Bank                                                      1.7%



Note 1: CGI's investment in the New York Stock Exchange through its holdings in
Caldwell New York Limited Partnership and Caldwell New York LP IV represented
2.5% of its investment portfolio at July 31, 2006.






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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



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