Canadian World Fund Limited

Canadian World Fund Limited

May 03, 2007 09:52 ET

Canadian World Fund: Investment Update-Unaudited

TORONTO, CANADA--(CCNMatthews - May 3, 2007) - Canadian World Fund Limited (CWF) (TSX:CWF) reports on an unaudited basis that its diluted net asset value per share (NAV) at April 30, 2007 was $7.18, resulting in year-to-date and 12-month NAV returns of -9.6% and 3.8%, respectively. This compares with the 1.0% and 13.6% returns of the benchmark Morgan Stanley All Country World Index, in Canadian dollar terms, for the same periods. The closing price of CWF's common shares at April 30 was $6.80, resulting in year-to-date and 12-month market returns of 5.4% and 23.6%, respectively.

CWF's diluted NAV and corresponding return numbers reflect the one-for-one rights offering, for which a final short form prospectus was filed on April 27, 2007. Each shareholder of record on May 8, 2007 will receive one right for each common share held. Each right will entitle the holder to purchase one common share at the price of $6.25 until 4:00 p.m. (Toronto time) on June 5, 2007.

The geographic sector weightings of CWF's investment portfolio at market
as of April 30, 2007 were as follows:

North America 38.7%
Europe (excluding U.K.) 17.3%
United Kingdom 16.8%
Asia 16.4%
Latin America 9.6%
Africa 1.2%

The top ten investments which comprised 22.8% of the investment portfolio
at market as of April 30, 2007 were as follows:

Autonomy Corporation plc (U.K.) 2.8%
Mahindra & Mahindra Limited (India) 2.5%
FCStone Group Incorporated (United States) 2.5%
Sberbank (Russia) 2.4%
Oslo Bors Holding ASA (Norway) 2.3%
Grupo Financiero Banorte S.A. de C.V. (Mexico) 2.2%
Bourse de Montreal Inc. (Canada) 2.1%
SARE Holding, S.A. de C.V. (Mexico) 2.0%
AmRest Holdings N.V. (Netherlands) 2.0%
HDFC Bank Ltd. (India) 2.0%

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