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Canadian General Investments completes US$75 million public offering

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Scotia Capital Inc.

On March 3, 2006, Canadian General Investments, Limited announced that it had completed its public offering of $75 million, ten year 3.90% Cumulative Redeemable Class A Preference Shares, Series 3 purchased by a syndicate of investment dealers led by Scotia Capital Inc. The net proceeds of this offering will be used to augment the investment portfolio of the Corporation. Canadian General Investments, Limited, established in 1930, is one of Canada's largest closed-end investment companies with total portfolio assets in excess of $850 million, subsequent to the offering. Fasken Martineau advised the underwriters in this transaction with a team comprised of Richard Steinberg, Jamie Pennell and Mitchell Thaw (tax).



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