Purchase of Own Securities

Canadian General Investments Ld
21 April 2003



                                 PRESS RELEASE


Canadian General Investments Announces

Normal Course Issuer Bid For Outstanding Warrants



Toronto, Ontario. April 21, 2003 - Canadian General Investments, Limited ('CGI')
(TSX: 'CGI';'CGI.WT') announced today acceptance by The Toronto Stock Exchange
(the 'TSX') of CGI's Notice of Intention to commence a Normal Course Issuer Bid
(the 'NCIB'). Pursuant to the NCIB, CGI proposes to purchase for cancellation,
from time to time, if it is considered advisable, up to 186,761 of its
outstanding warrants (the 'Warrants') representing 5% of the 3,735,226
outstanding Warrants as at April 21, 2003, through the facilities of the TSX
commencing April 23, 2003. The Warrants are exercisable for common shares of CGI
on a one-for-one basis on June 30 of each year until June 30, 2007. The Board of
Directors of CGI believes that such purchases are in the best interests of CGI
and are a desirable use of corporate funds. The NCIB will expire on April 22,
2004.


In April 2002, CGI announced a similar bid with respect to the Warrants. Under
that bid, which expires April 22, 2003, an aggregate of 196,600 Warrants have
been repurchased and cancelled to date, at an average price of $4.28, excluding
commission.


Canadian General Investments, Limited, established in 1930, is one of Canada's
largest closed-end investment companies with portfolio assets in excess of $320
million. Focussed on medium to long-term investments in Canadian corporations,
it strives, through prudent security selection, timely recognition of capital
gains and appropriate income generating investments, to provide better than
average returns to investors.






FOR FURTHER INFORMATION PLEASE CONTACT:


Canadian General Investments, Limited

Michael A. Smedley

President

Phone: [phone]

Fax: [phone]

E-mail:  [e-mail]

Website:  www.mmainvestments.com


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