Portfolio Update

Canadian General Investments Ld
05 June 2006


NEWS RELEASE TRANSMITTED BY CCN MATTHEWS


FOR: CANADIAN GENERAL INVESTMENTS, LIMITED


TSX SYMBOLS: CGI, CGI.PR.A, CGI.PR.B, CGI.PR.C, CGI.WT
LONDON STOCK EXCHANGE: CGI, CGIW


June 5, 2006


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 May 31, 2006
was $27.55, resulting in year-to-date and 12 month NAV returns, with dividends
reinvested, of 9.1% and 34.4%, respectively. This compares with the 5.1% and
24.6% returns of the benchmark S&P/TSX Composite Index on a total return basis
for the same periods.

The closing price for CGI's common shares at May 31 was $25.41, resulting in
year-to-date and 12 month market returns with dividends reinvested of 10.0% and
54.5%, respectively.

The sector weightings of CGI's investment portfolio at market as of May 31, 2006
were as follows:

Financials                                                                28.3%
Energy                                                                    20.8%
Materials                                                                 18.3%
Industrials                                                                9.2%
Consumer Discretionary                                                     5.3%
Cash & Cash Equivalents                                                    4.1%
Information Technology                                                     4.0%
Consumer Staples                                                           3.0%
Telecommunication Services                                                 3.0%
Health Care                                                                1.5%
Other                                                                      2.5%


The top ten investments, which comprised 21.5% of the investment portfolio at
market, excluding non-convertible preferred shares, as of May 31, 2006 were as
follows:

Cash & Cash Equivalents                                                    4.1%
Falconbridge Limited                                                       2.9%
Cameco Corporation                                                         2.9%
TSX Group Inc.                                                             2.3%
Rogers Communications Inc.                                                 1.7%
BMTC Group Inc.                                                            1.6%
HudBay Minerals Inc.                                                       1.5%
First Capital Realty Inc.                                                  1.5%
GMP Capital Trust                                                          1.5%
Home Capital Group Inc.                                                    1.5%



Note: CGI's investment in the New York Stock Exchange through its holdings in
Caldwell New York Limited Partnership and Caldwell New York LP IV represented
2.1% of its investment portfolio at May 31, 2006.

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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





                      This information is provided by RNS
            The company news service from the London Stock Exchange