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 at June 30, 2011
was $478,804,000, representing a 4.5% decrease from the $501,548,000 at the end
of 2010. CGI's net asset value per share (NAV) at June 30, 2011 was $22.95, down
from $24.04 at year end 2010. The NAV return, with dividends reinvested, for the
six months ended June 30, 2011 was -4.0%, compared with a 0.2% total return for
the benchmark S&P/TSX Composite Index.


At June 30, 2011 the portfolio was overweight in Materials and Consumer
Discretionary and underweight Financials and Energy, as compared to the sector
weightings in the S&P/TSX. In the high-weighted Materials sector of the S&P/TSX
Index, the impact of a hesitant global recovery and particular concern regarding
growth levels in China, weighed heavily on sentiment for its constituents.
Energy, the second largest sector in the S&P/TSX, had better relative returns,
but also performed below that of the benchmark and finished in negative
territory.


In general, valuations have been particularly hard to establish with any
consistency for any commodity-related securities during this period, the only
constant so far being a generally neutral to negative bias. Trading in the
period was particularly focussed on temporarily reducing exposure to declining
base and precious metal stocks.


During each of the first two quarters of both 2011 and 2010, CGI paid regular
income dividends of $0.06 per share to its common shareholders.


CGI is a closed-end equity fund, focussed 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/losses and appropriate income generating instruments.




FINANCIAL HIGHLIGHTS                                                        
                                                                            
                                                                            
(in thousands of dollars, except per share amounts)                         
                                                                            
                                                     For the Year Ended
                                                     ------------------      
                                                      June 30,      June 30,
                                                          2011          2010
                                                ----------------------------
                                                                            
Net investment loss                                    (2,286)       (1,478)
Net loss on investments                               (15,971)      (16,697)
                                                ----------------------------
Decrease in net assets resulting from operations      (18,257)      (18,175)
Decrease in net assets resulting from operations                            
per share                                               (0.88)        (0.87)
                                                                            
                                                            As at
                                                            -----           
                                                      June 30,  December 31,
                                                          2011          2010
                                                ----------------------------
                                                                            
Selected data(1)                                                            
Net asset value                                        478,804       501,548
Net asset value per share                                22.95         24.04
                                                                            
Selected data according to GAAP(1)                                          
Net assets                                             477,228       500,049
Net assets per share                                     22.88         23.97
                                                                            
(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.

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