Canadian World Fund Limited
TSX : CWF

Canadian World Fund Limited

October 19, 2005 17:32 ET

Canadian World Fund Limited Reports 2005 Third Quarter Results

TORONTO, CANADA--(CCNMatthews - Oct. 19, 2005) - Canadian World Fund Limited's (CWF) (TSX:CWF) net asset value per share (NAV) returns for the three, nine and twelve month periods ended September 30, 2005 were 1.3%, 0.5% and 17.2%, respectively. By comparison, the returns of the benchmark, Morgan Stanley All-Country World Free Index for the same periods were 1.5%, 1.9% and 8.6%, when expressed in Canadian dollar terms. CWF's market returns were 13.0% for the third quarter, 17.3% year-to-date and 20.6% over the twelve months to September 30, 2005.

CWF's net assets at September 30, 2005 were $22,632,000 compared to $19,308,000 at September 30, 2004. The corresponding NAVs were $5.52 and $4.71.

There was a net gain on investments of $364,000 for the nine months ended September 30, 2005, comprised of a net realized gain on investments of $2,519,000 and a decrease in unrealized gain on investments of $2,155,000. This compares to a net loss on investments of $154,000 for the corresponding period in 2004. CWF's net investment loss for the first nine months of 2005 was $258,000, compared to a loss of $176,000 for the same period in 2004.

Europe, including the U.K., and North America were the dominant portfolio segments with weightings of 35.4% and 35.1% respectively. Asia was the third largest segment with a weighting of 21.2%. The top three holdings as at September 30, 2005 were: The Stanley Gibbons Group Limited, a holding company for businesses which offer a community-based trading environment on the Internet for the stamp and collectibles markets; Apple Computer Inc., the alternative computer maker having huge success with its consumer product, the iPod; and Grupo Financiero Banorte S.A. de C.V, one of Mexico's leading bank groups.

Canadian World Fund Limited is a TSX listed global equities fund that provides one of few opportunities for bottom-up investment in securities of publicly traded primarily growth companies in a global portfolio.



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

Three Months Nine Months
Ended Ended
------------------------------------------
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2005 2004 2005 2004
------------------------------------------
Net investment loss for
the period (98) (33) (258) (176)
Net realized gain (loss)
on investments 381 (336) 2,519 1,964
Change in unrealized gain
on investments - net of
future income taxes 15 (869) (2,155) (2,118)
-- ----- ------- -------
Increase (decrease) in
net assets resulting from
operations 298 (1,238) 106 (330)
Increase (decrease) in
net assets resulting from
operations per share 0.07 (0.30) 0.02 (0.08)

As at
-----
Sept. 30, December 31, Sept. 30,
2005 2004 2004
----------------------------------
Net assets 22,632 22,526 19,308
Net asset value per share 5.52 5.49 4.71



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