Canadian General Investments: Investment Update-Unaudited

Canadian General Investments, Limited (CGI) (TSX: CGI)(TSX: CGI.PR.B)(TSX: CGI.PR.C)(LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at November 30, 2008 was $13.68, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -56.7% and -55.3%, respectively. These compare with the -31.2% and -30.3% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.

The closing price for CGI's common shares at November 30, 2008 was $9.45, resulting in year-to-date and 12-month market returns, with dividends reinvested, of -66.1% and -65.7%, respectively.

The sector weightings of CGI's investment portfolio at market as of November 30, 2008 were as follows:

Energy                                                                 18.4%
Cash & Cash Equivalents                                                16.2%
Financials                                                             14.9%
Industrials                                                            11.0%
Consumer Discretionary                                                 10.1%
Materials                                                               9.2%
Telecommunication Services                                              7.6%
Consumer Staples                                                        4.6%
Utilities                                                               3.2%
Information Technology                                                  2.1%

The top ten investments, which comprised 40.2% of the investment portfolio at market, excluding non-convertible preferred shares, as of November 30, 2008 were as follows:

Canadian Cash                                                           8.8%
Canadian Treasury Bills                                                 7.4%
Rogers Communications Inc.                                              4.1%
BMTC Group Inc.                                                         3.4%
TransCanada Corporation                                                 3.2%
Enbridge Inc.                                                           3.2%
Ritchie Bros. Auctioneers Incorporated                                  3.0%
Bombardier Inc.                                                         2.5%
Shaw Communications Inc.                                                2.4%
Labrador Iron Ore Royalty Income Fund                                   2.2%

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