Portfolio Update

Canadian General Investments Ld
07 July 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


July 7, 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 June 30,
2006 was $26.71, resulting in year-to-date and 12 month NAV returns, with
dividends reinvested, of 5.7% and 26.2%, respectively. This compares with the
4.2% and 19.6% 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 June 30 was $24.50, resulting in
year-to-date and 12 month market returns with dividends reinvested of 6.1% and
39.7, respectively.


The sector weightings of CGI's investment portfolio at market as of June 30,
2006 were as follows:

Financials                                                                29.8%
Energy                                                                    20.4%
Materials                                                                 19.2%
Industrials                                                                9.5%
Consumer Discretionary                                                     5.2%
Information Technology                                                     4.4%
Telecommunication Services                                                 3.2%
Consumer Staples                                                           3.1%
Health Care                                                                1.5%
Utilities                                                                  1.3%
Other                                                                      2.4%


The top ten investments, which comprised 20.9% of the investment portfolio at
market, excluding non-convertible preferred shares, as of June 30, 2006 were as
follows:

Cameco Corporation                                                         3.1%
Falconbridge Limited                                                       3.0%
TSX Group Inc.                                                             2.6%
Rogers Communications Inc.                                                 1.9%
BMTC Group Inc.                                                            1.8%
HudBay Minerals Inc.                                                       1.8%
Russel Metals Inc.                                                         1.7%
Home Capital Group Inc.                                                    1.7%
First Capital Realty Inc.                                                  1.7%
Canadian Western Bank                                                      1.6%


Note 1: All weightings percentages exclude the $66.6 million in cash required to
fund the Company's substantial issuer bid for warrants which closed on June 30,
2006.


Note 2: 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
2.5% of its investment portfolio at June 30, 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