Canadian General Investments, Limited

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Canadian General Investments, Limited
(TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) (the "Company") announced today
that it has provided notice to holders of its $75,000,000 4.65% Cumulative
Redeemable Class A Preference Shares, Series 2 (the "Series 2 Shares") that in
accordance with the terms of the Series 2 Shares it will redeem all of the
issued and outstanding Series 2 Shares on May 29, 2013, for a price of $25.00
per Series 2 Share plus all accrued and unpaid dividends (from and including the
last scheduled dividend payment date, March 15, 2013, to, but excluding, the
date of redemption, and being in the amount of $0.23887 per share). This
redemption will initially be funded by a short-term loan from a Canadian
chartered bank. 


The Company further announced today that it has entered into an agreement with a
syndicate of investment dealers led by Scotia Capital Inc. pursuant to which the
syndicate has agreed to purchase 3,000,000 3.75% Cumulative Redeemable Class A
Preference Shares, Series 4 of the Company (the "Series 4 Shares") for gross
proceeds of $75,000,000. The net proceeds of the offering, which is expected to
close on May 30, 2013, will be used, together with available cash, to repay the
short-term loan entered into to fund the redemption of the Series 2 Shares. 


The Series 4 Shares will not be registered under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act") and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
except in certain transactions exempt from the registration requirements of the
U.S. Securities Act. 


This announcement is for information purposes only and does not constitute an
offer to sell for, or the solicitation of an offer to buy or subscribe for, any
securities in the Company. No offer for sale or subscription of securities is
being made in or into the United Kingdom. The short form prospectus proposed to
be filed in respect of the Series 4 Shares will not comprise a prospectus for
the purposes of the UK Prospectus Rules and will not be approved or filed with
the UK Financial Conduct Authority. No application is being made for the
admission of the Series 4 Shares to the official list of the Financial Conduct
Authority.


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

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