Final Results

Canadian General Investments Ld
07 February 2003


NEWS RELEASE TRANSMITTED BY CCN MATTHEWS
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSE SYMBOLS: CGI, CGI.PR.A, CGI.WT
LONDON STOCK EXCHANGE: CGIq.L, CGIwsq.L

FEBRUARY 6, 2003


Canadian General Investments, Limited

Canadian General Investments Reports 2002 Operating Results

TORONTO, CANADA - For the second year running, and again in a poor equity
market, the portfolio and net asset value of Canadian General Investments,
Limited (CGI) were down marginally. The fourth quarter of 2002 saw the net
assets of CGI climb by 6.0% to $274,519,000 at year-end. Diluted net asset value
per share was $12.33 compared to $11.68 at September 30, 2002 and $13.34 at
December 31, 2001.

The diluted net asset value per share return for 2002, with distributions
reinvested, was -5.8%. By comparison, the benchmark S&P/TSX Composite Total
Return Index posted -12.4% for the same period. CGI's return would place it in
the top quartile of Canadian equity mutual funds as reported in The Globe and
Mail. Strong performance from a broad range of stocks was the main contributor
to CGI's outperformance of the Index.

The continuation of the bear market during 2002 resulted in a net loss on
investments of $19,267,000, comprised of a net realized gain on investments of
$4,072,000 and a decrease in unrealized appreciation of investments of
$23,339,000. There was a net loss on investments in the previous year of
$6,362,000. Net investment income for the year 2002 was $973,000 compared to
$846,000 for the prior year.

During 2002, CGI paid four regular quarterly income dividends totalling $0.24
per common share, providing a yield to investors of 2.8%, based on the 2002
year-end common share closing price of $8.45.

CGI bought in 181,802 of its warrants for cancellation during the year 2002 as a
result of a normal course issuer bid first initiated in the second quarter of
2001. The Corporation bought in 78,300 of its warrants during 2001. Purchase and
cancellation of the warrants increases diluted net asset value per share.

In accordance with the warrant indenture, the warrant exercise price has been
reduced from $6.50 to $6.30 as a result of total cash dividends for 2002 being
in excess of net income. The change in exercise price is effective February 5,
2003.



FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
                                                                                         Twelve Months Ended
                                                                                 December 31, 2002     December 31, 2001

Net investment income                                                                          973                   846
Net realized gain on investments                                                             4,072                11,304
Change in unrealized appreciation                                                         (23,339)              (17,666)
in value of investments
Decrease in net assets from operations                                                    (18,294)               (5,516)

Decrease in net assets from operations - per share                                          (0.89)                (0.27)


                                                                                              As at
                                                                                  December 31, 2002    December 31, 2001

Net assets                                                                                  274,519              298,546
Net asset value per share - basic                                                             13.41                14.58
Net asset value per share - diluted                                                           12.33                13.34



In the United Kingdom, copies of the Corporation's annual report will be made
available at the U.K. Transfer Agent, CIBC Mellon Trust Company, Balfour House,
390 High Road, Ilford, Essex, 1G1 1NQ. Phone [phone].


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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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