Canadian World Fund Limited

Canadian World Fund Limited

January 06, 2005 12:17 ET

Canadian World Fund: Investment Update-Unaudited


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CANADIAN WORLD FUND LIMITED

TSX SYMBOL: CWF

JANUARY 6, 2005 - 12:17 ET

Canadian World Fund: Investment Update-Unaudited

TORONTO, CANADA--(CCNMatthews - Jan. 06, 2005) - Canadian World Fund
Limited (TSX:CWF) reports on an unaudited basis that its net asset value
per share (NAV) at December 31, 2004 was $5.48, resulting in a one-year
NAV return of 14.4%. This compares with the 5.5% return of the benchmark
Morgan Stanley All-Country World Free Index, in Canadian dollar terms,
for the same period. The one-year market return for CWF's common shares
to December 31 was 11.1%.

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



North America 26.9%
United Kingdom 24.0%
Europe (excluding U.K.) 22.6%
Asia 21.6%
Other 4.9%


The top ten investments which comprised 30.1% of the investment
portfolio at market, excluding cash as of December 31, 2004 were as
follows:



Stanley Gibbons Group Limited (United Kingdom) 4.9%
Oslo Bors Holding ASA (Norway) 3.3%
Corin Group PLC (United Kingdom) 3.3%
Niko Resources Ltd. (Canada) 3.1%
Iliad SA (France) 2.8%
Imperial Metals Corporation (Canada) 2.7%
Symantec Corporation (United States) 2.6%
Grupo Financiero Banorte S.A. de C.V. (Mexico) 2.5%
IP2IPO Group plc (United Kingdom) 2.5%
Google Inc. (United States) 2.4%



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