Portfolio Update

Canadian General Investments Ld
05 December 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

December 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 November 30,
2005 was $24.46, resulting in a year-to-date NAV return, with dividends
reinvested, of 19.3%. This compares with the 18.9% return of the benchmark S&P/
TSX Composite Total Return Index for the same period.

The closing price for CGI's common shares at November 30 was $22.20, resulting
in a year-to-date market return with dividends reinvested of 45.6%.

For the 12 months ended November 30, 2005, CGI's NAV and market returns were
26.4% and 55.8%, respectively. The benchmark posted 22.0% for the same period.

The sector weightings of CGI's investment portfolio at market as of November 30,
2005 were as follows:

Energy                                                                    27.0%
Financials                                                                25.3%
Materials                                                                 13.5%
Consumer Discretionary                                                     9.0%
Industrials                                                                8.8%
Consumer Staples                                                           4.3%
Telecommunication Services                                                 3.7%
Information Technology                                                     2.6%
Preferred Shares                                                           2.5%
Other                                                                      3.3%

The top ten investments, which comprised 22.2% of the investment portfolio at
market, excluding cash and non-convertible preferred shares, as of November 30,
2005 were as follows:

Cameco Corporation                                                         3.5%
Rogers Communications Inc.                                                 2.9%
TSX Group Inc.                                                             2.7%
Falconbridge Limited                                                       2.3%
TELUS Corporation                                                          2.1%
Enbridge Inc.                                                              1.9%
Home Capital Group Inc.                                                    1.8%
National Bank of Canada                                                    1.7%
Shore Gold Inc.                                                            1.7%
Corby Distilleries Limited                                                 1.6%






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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