Canadian World Fund Limited

Canadian World Fund Limited

June 03, 2005 13:57 ET

Canadian World Fund: Investment Update-Unaudited

TORONTO, CANADA--(CCNMatthews - June 3, 2005) - Canadian World Fund Limited (CWF)(TSX:CWF) reports on an unaudited basis that its net asset value per share (NAV) at May 31, 2005 was $5.38, resulting in a year-to-date NAV return of -2.0%. This compares with the 1.6% return of the benchmark Morgan Stanley All-Country World Free Index, in Canadian dollar terms, for the same period. The year-to-date market return for CWF's common shares to May 31 was 2.0%.

For the 12 months ended May 31, 2005, CWF's NAV and market returns were 6.1% and 8.8%, respectively. The benchmark posted 1.1% for the same period.

The geographic sector weightings of CWF's investment portfolio at market as of May 31, 2005 were as follows:

United Kingdom 29.3%
North America 28.7%
Asia 20.9%
Europe (excluding U.K.) 14.2%
Other 6.9%

The top ten investments which comprised 30.2% of the investment
portfolio at market, excluding cash, as of May 31, 2005 were as

Stanley Gibbons Group Limited (United Kingdom) 4.8%
Oslo Bors Holding ASA (Norway) 3.8%
Corin Group PLC (United Kingdom) 3.7%
Apple Computer Inc. (United States) 2.9%
Grupo Financiero Banorte S.A. de C.V. (Mexico) 2.8%
Deal Group Media plc (United Kingdom) 2.7%
Martha Stewart Living Omnimedia, Inc. (United States) 2.4%
Niko Resources Ltd. (Canada) 2.4%
Numis Corporation Plc (United Kingdom) 2.4%
Symantec Corporation (Canada) 2.3%

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