Canadian General Investments Announces Normal Course Issuer Bid For Outstanding Warrants.

TORONTO -- Canadian General Investments, Limited ("CGI") (TSX:CGI)(TSX:CGI.PR.A)(TSX:CGI.PR.B)(TSX:CGI.WT)(LSE:CGI)(LSE:CGIW) announced today acceptance by the Toronto Stock Exchange (the "TSX") of CGI's Notice of Intention to commence a Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, CGI proposes to purchase for cancellation, from time to time, if it is considered advisable, up to 169,644 of its outstanding warrants (the "Warrants") representing 5% of the 3,392,886 outstanding Warrants as at April 20, 2005, through the facilities of the TSX commencing April 25, 2005. The Warrants are exercisable for common shares of CGI on a one-for-one basis on June 30 of each year until June 30, 2007. The Board of Directors of CGI believes that such purchases are in the best interests of CGI and are a desirable use of corporate funds. The NCIB will expire on April 24, 2006.

In April 2004, CGI announced a similar bid with respect to the Warrants. Under that bid, which expires April 22, 2005, an aggregate of 133,600 Warrants have been repurchased and cancelled to date, at an average price of $9.33, excluding commission.

Canadian General Investments, Limited, established in 1930, is one of Canada's largest closed-end investment companies with portfolio assets in excess of $643 million as at the end of the most recent quarter, March 31, 2005. Focussed on medium to long-term investments in Canadian corporations, it strives, through prudent security selection, timely recognition of capital gains and appropriate income generating investments, to provide better than average returns to investors.

Canadian General Investments, Limited (TSX:CGI) (TSX:CGI.PR.A) (TSX:CGI.WT) (TSX:CGI.PR.B) (LSE:CGI) (LSE:CGIW)