NEWS RELEASE TRANSMITTED BY MARKETWIRE
FOR: THIRD CANADIAN GENERAL INVESTMENT TRUST LIMITED
TSX SYMBOL: THD

Third Canadian General Investment Trust Limited Reports Audited 2010 Financial Results

TORONTO, CANADA – Third Canadian General Investment Trust Limited’s (Third Canadian) net asset value per share (NAV) return for 2010, with dividends reinvested, was 27.3%, outperforming the 17.6% total return of the benchmark S&P/TSX Composite Index (S&P/TSX). For 2010, Third Canadian’s market return was 25.4%.

Net asset value at December 31, 2010 was $213,314,000, representing a 25.1% increase from $170,559,000 at year end 2009. Performance was broad-based, with strong results achieved by both the principal assets, consisting of its holdings in Canadian General Investments, Limited (CGI) and Canadian World Fund Limited (CWF), and non-principal assets of the portfolio. The portfolio return of the non-principal asset segment was 30.5%, while CGI’s market return was 27.9%. In particular, returns were positively impacted by overweight positions in the Materials sector, one of the S&P/TSX’s strongest performers, up 36.5% during the year. The corresponding per share NAVs at December 31, 2010 and December 31, 2009 were $44.39 and $35.49, respectively.

In addition to the payment of four quarterly dividends of $0.075 per share, Third Canadian paid a year-end extra dividend of $0.40 per share on December 24, 2010. Based on the year-end share price of $32.32, total dividend payments during 2010 represented a yield of 2.2%.

Third Canadian, established in 1928, is the second oldest North American listed closed-end fund. The Company’s non-principal assets consist of a diverse range of Canadian and foreign securities.

FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)

(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 generally 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.

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FOR FURTHER INFORMATION PLEASE CONTACT:
Third Canadian General Investment Trust Limited
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: thdfund@mmainvestments.com
website: www.mmainvestments.com