Canadian World Fund Limited

Canadian World Fund Limited

June 04, 2007 16:40 ET

Canadian World Fund: Investment Update-Unaudited

TORONTO, CANADA--(Marketwire - June 4, 2007) - Canadian World Fund Limited (TSX:CWF) reports on an unaudited basis that its diluted net asset value per share (NAV) at May 31, 2007 was $7.31, resulting in year-to-date and 12-month NAV returns of -1.0% and 23.4%, respectively. This compares with the 0.2% and 19.6% 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 May 31 was $6.32, resulting in year-to-date and 12-month market returns of 5.9% and 32.6%, 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 received one right for each common share held. Each right entitles 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
May 31, 2007 were as follows:

North America 38.8%
Europe (excluding U.K.) 17.5%
Asia 16.2%
United Kingdom 16.2%
Latin America 9.9%
Africa 1.4%

The top ten investments which comprised 22.4% of the investment portfolio at market as of May 31, 2007 were as follows:

Autonomy Corporation plc (U.K.) 2.6%
AmRest Holdings N.V. (Netherlands) 2.4%
Oslo Bors Holding ASA (Norway) 2.3%
Mahindra & Mahindra Limited (India) 2.3%
Equinox Minerals Limited (Canada) 2.2%
Sberbank (Russia) 2.2%
HDFC Bank Ltd. (India) 2.2%
FCStone Group Incorporated (United States) 2.1%
Grupo Financiero Banorte S.A. de C.V. (Mexico) 2.1%
Skye Resources Inc. (Canada) 2.0%

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