Stmnt re Outstanding Warrants

Canadian General Investments Ld
19 April 2001



Canadian General Investments Announces
Normal Course Issuer Bid for Outstanding Warrants


Toronto, Ontario. April 19, 2001 - Canadian General Investments, Limited ('CGI')
(TSE: 'CGI', CGI, WT') announced today acceptance by The Toronto Stock Exchange
(the 'TSE') 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 203,486 of its
outstanding warrants (the 'Warrants') being less than 5% of the 4,069,729
outstanding Warrants as at April 12, 2001, through the facilities of the TSE
commencing April 23, 2001.  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, 2002.

Canadian General Investments, Limited, established in 1930, is one of Canada's
largest closed-end investment companies with portfolio assets in excess of $340
million.  Focused 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