Toronto, Canada, May 5, 2005 -- Canadian World Fund Limited (CWF) reports on an unaudited basis that its net asset value per share (NAV) at April 29, 2005 was $5.45, resulting in a year-to-date NAV return of -0.7%.  This compares with the 0.5% return of the benchmark Morgan Stanley All-Country World Free Index, in Canadian dollar terms, for the same period.  The year-to-date market return for CWF's common shares to April 30 was 0.0%.

For the 12 months ended April 29, 2005, CWF's NAV and market returns  were 3.4% and 0.0%, respectively.  The benchmark posted 0.0% for the same period.

The geographic sector weightings of CWF's investment portfolio at market  as of April 29, 2005 were as follows:


         United Kingdom                                 29.3%
         North America                                   25.6%
         Asia                                                 21.0%
         Europe (excluding U.K.)                     17.9%
         Other                                                 6.2%

The top ten investments which comprised 29.8% of the investment portfolio at market, excluding cash, as of April 29, 2005 were as follows:

         Stanley Gibbons Group Limited (United Kingdom)   4.9%
         Oslo Bors Holding ASA (Norway)                           3.7%
         Corin Group PLC (United Kingdom)                       3.7%
         Deal Group Media plc (United Kingdom)                3.0%
         IP2IPO Group plc (United Kingdom)                      2.8%
         Grupo Financiero Banorte S.A. de C.V. (Mexico)    2.5%
         Apple Computer Inc. (United States)                    2.5%
         Numis Corporation Plc (United Kingdom)              2.5%
         fountains plc (United Kingdom)                            2.1%
         Niko Resources Ltd. (Canada)                             2.1%

 

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