Canadian General Investments Ltd.

January 06, 2005 12:26 ET

Canadian General Investments: Investment Update-Unaudited


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANADIAN GENERAL INVESTMENTS LTD.

TSX, LSE SYMBOL: CGI
TSX SYMBOL: CGI.PR.A
TSX SYMBOL: CGI.WT
TSX SYMBOL: CGI.PR.B
LSE SYMBOL: CGIW

JANUARY 6, 2005 - 12:26 ET

Canadian General Investments: Investment
Update-Unaudited

TORONTO, CANADA--(CCNMatthews - Jan. 6, 2005) - Canadian General
Investments, Limited
(TSX:CGI)(TSX:CGI.PR.A)(TSX:CGI.PR.B)(TSX:CGI.WT)(LSE:CGI)(LSE:CGIW)
reports on an unaudited basis that its diluted net asset value per share
(NAV) at December 31, 2004 was $20.66, resulting in a one-year NAV
return, with dividends reinvested, of 26.3%. This compares with the
14.5% return of the benchmark S&P/TSX Composite Total Return Index for
the same period. The one-year market return for CGI's common shares to
December 31, with dividends reinvested, was 28.8%.

The sector weightings of CGI's investment portfolio at market as of
December 31, 2004 were as follows:



Financials 23.4%
Energy 22.4%
Materials 19.7%
Industrials 6.4%
Consumer Discretionary 6.2%
Consumer Staples 5.8%
Telecommunication Services 5.3%
Preferred Shares 4.6%
Information Technology 2.7%
Other 3.5%


The top ten investments, which comprised 17.1% of the investment
portfolio at market, excluding cash, short-term investments and
non-convertible preferred shares as of December 31, 2004 were as follows:



Cameco Corporation 2.4%
TELUS Corporation 1.8%
Enbridge Inc. 1.8%
Home Capital Group Inc. 1.7%
TSX Group Inc. 1.7%
TransCanada Corporation 1.6%
Power Financial Corporation 1.6%
Corby Distilleries Limited 1.5%
BMTC Group Inc. 1.5%
Research In Motion Limited 1.5%




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