TORONTO, CANADA--(Marketwire - Oct. 6, 2008) - Canadian General Investments, Limited (the "Company") (TSX:CGI)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) today completed the previously announced redemption of its $60,000,000 5.40% Cumulative Redeemable Class A Preference Shares, Series 1. This redemption is in accordance with the terms of the governing short form prospectus. The aggregate amount of $60,186,480 (including accrued and unpaid dividends from September 15, 2008) was funded through the sale of portfolio securities.

FOR FURTHER INFORMATION PLEASE CONTACT:

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