Canadian World Fund Limited Reports Audited 2007 Financial Results
Morgan Meighen & Associates

Toronto, Canada, February 7, 2008 -- Canadian World Fund Limited (CWF) had a net asset value per share (NAV) return for 2007 of -1.9%, comparing favourably to the -7.0% return for the benchmark Morgan Stanley Capital International All Country World Index (in Canadian dollar terms). Positive performance from a broad range of stocks, in many markets across CWF’s portfolio, helped to offset the initial dilutive effect of a rights offering. The NAV at December 31, 2007 was $7.79, compared to $7.94 at year end 2006.

The Company’s net assets increased to $56,020,000 from $32,553,000 at the end of 2006, primarily as a result of a one-for-one rights offering that closed in June 2007. The rights offering, which raised net proceeds of $18.7 million, and resulted in the issuance of 3,088,741 shares, was the major corporate event of 2007, providing the Company with a much needed expansion in its capitalization that should provide ongoing benefits. A reduction in the management expense ratio in 2007 compared to 2006 was largely a result of the expanded asset base.

North America remained the dominant portfolio segment at 43.4%, including a Canadian segment of 24.4%. Asia was the next largest weighting at 24.7%, with Europe (including the United Kingdom) and Latin America at 24.6% and 5.7%, respectively.

The top five holdings as at December 31, 2007 were Apple Inc., the alternative computer maker, having huge success with its consumer products, the iPod and the iPhone; Deere & Company, producer of agricultural equipment; PT Bumi Resources, Tbk, an Indonesian thermal coal producer; Equinox Resources Limited, one of the copper miners most advanced towards production, with an extremely attractive project in Zambia; and Altius Minerals Corporation, advanced in the permitting and planning of an oil refinery in Newfoundland.

CWF is a TSX listed global equities fund that provides one of few opportunities for bottom-up investment in securities of publicly traded, primarily growth companies in a global portfolio.


FINANCIAL HIGHLIGHTS

(in thousands of dollars, except per share amounts)

For the Year Ended
	December 31, 2007	December 31, 2006
Net investment loss	(727)	(313)
Net gain on investments	5,463	9,292
Increase in net assets resulting from operations	4,736	8,979
Increase in net assets resulting from operations - per share	0.81	2.19

	As At
	December 31, 2007	December 31, 2006
Selected data
Net assets	56,020	32,553
NAV	7.79	7.94
Selected data according to GAAP (1)
GAAP net assets	55,794	32,553
GAAP NAV	7.76	7.94

(1) Calculated in accordance with Canadian generally accepted accounting principles (GAAP). Whereas fair value for Canadian GAAP was previously based on the last traded price of the day, when available, Section 3855 of the CICA Handbook, which applies to the Company’s fiscal year ending December 31, 2007 requires that the fair value of financial instruments which are traded in active markets be measured based on the last bid price for the securities.



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