Canadian World Fund: Investment Update-Unaudited 
Morgan Meighen & Associates, Inc.

Toronto, Canada -- November 3, 2006 - Canadian World Fund Limited (TSX:CWF) reports on an unaudited basis that its net asset value per share (NAV) at October 31, 2006 was $7.17, resulting in year-to-date and 52 week NAV returns of 24.7% and 36.6%, respectively. This compares with the 9.1% and 14.2% returns of the benchmark Morgan Stanley All-Country World Free Index, in Canadian dollar terms, for the same periods.

The closing price of CWF's common shares at October 31 was $5.60, resulting in year-to-date and 52 week market returns of 28.7% and 24.4%, respectively.

The geographic sector weightings of CWF's investment portfolio at market as of
October 31, 2006 were as follows:

North America                                  37.7%
Asia                                           20.1%
United Kingdom                                 17.0%
Europe (excluding U.K.)                        12.5%
Latin America                                   9.9%
Cash & Cash Equivalents                         2.8%
 
The top ten investments which comprised 26.5% of the investment portfolio at market as of October 31, 2006 were as follows:

Indiabulls Financial Services Ltd. (India)      3.3%
Grupo Financiero Banorte S.A. de C.V. (Mexico)  3.2%
Google Inc. (United States)                     3.1%
Mahindra & Mahindra Limited (India)             2.8%
Skye Resources Inc. (Canada)                    2.6%
March Networks Corporation (Canada)             2.4%
Chariot Resources Limited (Canada)              2.4%
Equinox Minerals Limited (Canada)               2.3%
HDFC Bank Ltd. (India)                          2.2%
Oslo Bors Holding ASA (Norway)                  2.2%




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