3rd Quarter Results

Canadian General Investments Ld
19 October 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

OCTOBER 18, 2005

Canadian General Investments Reports 2005 Third Quarter Results

TORONTO, CANADA - Canadian General Investments, Limited's (CGI) diluted net
asset value per share (NAV) return, with dividends reinvested, for the three,
nine and twelve month periods ended September 30, 2005 were 14.4%, 23.4% and
43.4%, respectively. By comparison, the returns of the benchmark S&P/TSX
Composite Total Return Index (S&P/TSX) for the same periods were 11.6%, 20.7%
and 29.3%. CGI's market returns, including reinvestment of dividends, to common
shareholders were 21.1% for the third quarter, 46.1% year-to-date and 75.9% over
the twelve months to September 30, 2005.

At September 30, 2005, net assets were $587,857,000, up 23.5% from the 2004
year-end value of $475,976,000. The corresponding NAVs at September 30, 2005 and
December 31, 2004 were $25.35 and $20.71. For the first nine months of 2005, CGI
had an increase in net assets resulting from operations of $126,145,000, or
$5.52 per common share on a diluted basis. For the corresponding period in 2004,
the increase was $41,724,000 or $1.86 per share.

The net gain on investments for the first nine months of 2005 was $125,648,000,
comprised of a net realized gain of $53,973,000 and a change in unrealized gain
on investments of $71,675,000. There was a net gain on investments of
$39,197,000 during the comparable period in 2004. Net investment income for the
nine months to September 30, 2005 was $497,000, down from the $2,527,000
recorded in the nine month period in 2004.

CGI purchased 94,800 of its warrants for cancellation during the first nine
months of 2005 pursuant to its normal course issuer bid which was renewed in
April 2005. Outstanding warrants continue to be exercisable on June 30 of each
year until their expiration in 2007.

During each of the first three quarters of both 2005 and 2004, CGI paid regular
income dividends of $0.06 per share to its common shareholders.


FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
                                  Three Months Ended       Nine Months Ended
                                  --------------------     -------------------
                                  ----------   ---------   ---------   ---------
                                 Sept. 30,   Sept. 30,   Sept. 30,   Sept. 30,
                                      2005        2004        2005        2004
                                  ----------   ---------   ---------   ---------

Net investment income (loss)
for the period                           3         (81)        497       2,527
Net realized gain on
investments                         15,128       9,144      53,973      31,158
Change in unrealized gain on
investments                         63,404       4,728      71,675       8,039
                                    --------     -------    --------     -------
Increase in net assets
resulting                           78,535      13,971     126,145      41,724
from operations
Increase in net assets
resulting from                        3.82        0.67        6.15        2.04
operations per common share -
basic
Increase in net assets
resulting from                        3.41        0.62        5.52        1.86
operations per common share -
diluted

                                                         As at
                                        ----------     ---------       ---------
                                       Sept. 30,      Dec. 31,       Sept. 30,
                                            2005          2004            2004
                                        ----------     ---------       ---------

Net assets                               587,857       475,976         420,870
Net asset value per share - basic          28.57         23.22           20.53
Net asset value per share - diluted        25.35         20.71           18.40

In the United Kingdom, copies of the Corporation's quarterly report will be made
available at the U.K. branch transfer agent, Computershare Investor Services
PLC, P.O. Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 7NH. Phone
0117-941-7781.

                                   -30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President & 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