Canadian General Investments, Limited
TSX : CGI.PR.A
TSX : CGI
TSX : CGI.PR.B
LSE : CGI
TSX : CGI.PR.C

Canadian General Investments, Limited

July 16, 2008 16:58 ET

Canadian General Investments Reports June 30, 2008 Interim Results

TORONTO, CANADA--(Marketwire - July 16, 2008) - Canadian General Investments, Limited (TSX:CGI)(TSX:CGI.PR.A)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) -

CGI's net asset value per share (NAV) at June 30, 2008 was $29.73, down from the NAV of $31.94 at year end 2007. The NAV return, with dividends reinvested, for the six month period to June 30, 2008 was -6.5%, compared with a 6.0% total return for the benchmark S&P/TSX Composite Index (S&P/TSX). CGI's net asset value at June 30, 2008 was $620,264,000, representing a 6.9% decrease from the $666,323,000 at the end of 2007.

The Manager adjusted some of the sector weightings in CGI's portfolio during the first six months of 2008. Primarily, the Energy weighting increased 5.7% to 25.6% and Financials decreased 3.1% to 18.2%. Negative performance resulted during the period as the Fund was overweight in the poor performing Consumer Discretionary and Industrials sectors and underweight in the high performing Energy sector, vis-a-vis the benchmark. The Consumer Discretionary, Industrials and Energy sub-indexes of the S&P/TSX posted total returns for the period of -23.5%,1.6% and 24.3%, respectively.

During each of the first two quarters of both 2008 and 2007, CGI paid regular income dividends of $0.06 per share to its common shareholders.

CGI is a closed-end equity fund, focused on medium- to long-term investments in primarily Canadian corporations. Its objective is to provide better than average returns to investors through prudent security selection, timely recognition of capital gains and appropriate income generating instruments.



FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)

Six Months Ended
----------------
June 30, June 30,
2008 2007
-----------------------

Net investment loss (509) (4,718)
Net gain (loss) on investments (43,458) 73,958
--------- ---------
Increase (decrease) in net assets resulting from
operations (43,967) 70,115
Increase (decrease) in net assets resulting from
operations per common share - basic (2.11) 3.41
Increase (decrease) in net assets resulting from
operations per common share - diluted (2.11) 3.36

As at
-----
June 30, December 31,
2008 2007
-----------------------

Selected data
-------------
Net asset value 620,264 666,323
Net asset value per share 29.73 31.94

Selected data according to GAAP (1)
-------------------------------
Net assets 615,999 662,776
Net assets per share 29.53 31.77

(1) Calculated in accordance with Canadian generally accepted accounting
principles (GAAP). Section 3855 of the CICA Handbook requires that the
fair value of financial instruments which are traded in active markets
be measured based on the last bid price for the securities. However,
currently this method is only applicable to the reported value of the
Company's investments as reported in the interim and annual financial
statements.


In the United Kingdom, copies of the Company's financial reports will be made available at the U.K. branch transfer agent, Computershare Investor Services PLC, P.O. Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 7NH. Phone 0870-702-0000.

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