CGI Canadian General Investments Limited

Canadian General Investments, Limited's (CGI) (TSX: CGI)(TSX: CGI.PR.B)(TSX: CGI.PR.C)(LSE: CGI) net asset value per share (NAV) return, with dividends reinvested, for 2009 was 44.2%, compared with a 35.1% total return for the benchmark S&P/TSX Composite Index (S&P/TSX). The NAV at December 31, 2009 was $19.27, up from the NAV of $13.93 at year end 2008. CGI's net asset value was $402,001,000, up 38.4% from the 2008 year-end value of $290,477,000.

2009 saw a dramatic return to positive performance in Canada, as global economic conditions started to repair the damage from 2008 and market sentiment became more positive as the year progressed. Increases were broadly based, as all ten S&P/TSX sectors were up for the year with eight of ten sectors appreciating by more than 15%. In particular, the two largest sectors of the S&P/TSX, Financials and Energy, which together comprised 58.1% of the benchmark at year end, were up 45.6% and 39.5%, respectively. CGI's superior performance relative to the benchmark can be largely attributed to two factors: i) an overweighting of the portfolio in smaller capitalization stocks and ii) the leverage provided by the Company's preference shares, which served to magnify positive portfolio returns. Effectively, 2009 was the opposite of 2008.

In addition to the payment of four regular quarterly dividends of $0.06 per common share, CGI paid a year-end special capital gains distribution of $0.50 per common share on December 30, 2009. Based on the year-end common share price of $15.83, total dividend payments during 2009 represented a yield of 4.7%.

CGI is a closed-end equity fund, focused on medium to long-term investments in primarily Canadian corporations. Its objective is to provide better than average returns to investors through prudent security selection, timely recognition of capital gains and appropriate income generating instruments.

FINANCIAL HIGHLIGHTS

(in thousands of dollars, except per share amounts)

                                                        For the Year Ended
                                                       -------------------

                                                         December   December
                                                         31, 2009   31, 2008
                                                       ---------------------

Net investment loss                                         (640)      (453)
Net gain (loss) on investments                            124,110  (391,533)
                                                       ---------------------
Increase (decrease) in net assets resulting from          123,470  (391,986)
 operations
Increase (decrease) in net assets resulting from
 operations                                                  5.92    (18.79)
   per share


                                                              As at
                                                             ------
                                                         December   December
                                                         31, 2009   31, 2008
                                                       ---------------------

Selected data(1)
----------------
Net asset value                                           402,001    290,477
Net asset value per share                                   19.27      13.93

Selected data according to GAAP(1)
----------------------------------
Net assets                                                399,804    288,011
Net assets per share                                        19.17      13.81

(1) The Company calculates the net asset value and net asset value per share on the basis of the valuation principles set out in its annual information form. These valuation principles differ from the requirements of Canadian generally accepted accounting principles (GAAP), with the main difference relating to securities that are listed on a public stock exchange. While the Company values such securities based on the latest sale price, GAAP requires the use of the closing bid price. Accordingly, bid prices are used in determining net assets and net assets per share for purposes of the interim and annual financial statements.

In the United Kingdom, copies of the Company's financial reports will be made available at the U.K. branch transfer agent, Computershare Investor Services PLC, P.O. Box 82, The Pavilions, Bridgwater Road, Bristol, BS99 6ZY. Phone 0870-702-0000.

Contacts: Canadian General Investments, Limited Jonathan A. Morgan President & CEO (416) 366-2931 (416) 366-2729 (FAX) cgifund@mmainvestments.com www.mmainvestments.com