Third Canadian General Investment Trust Limited
Reports Audited 2007 Financial Results
Morgan Meighen & Associates

Toronto, Canada, February 7, 2008 -- Third Canadian General Investment Trust Limited (Third Canadian) enjoyed another good year in 2007. Its net asset value per share (NAV) return, with dividends reinvested, was 14.1%, outperforming the 9.8% return of the benchmark S&P/TSX Composite Index (S&P/TSX). For 2007, Third Canadian’s total market return was 4.5%.

Net assets at December 31, 2007 were $299,981,000, an increase of 11.8% from the 2006 year-end value of $268,433,000. The corresponding NAVs at December 31, 2007 and December 31, 2006 were $62.42 and $55.85. This increase can be largely attributed to the performance of the non-principal asset segment of the portfolio.

In June 2007, Third Canadian subscribed for its full entitlement of a one-for-one rights issue for common shares by one of its principal holdings, Canadian World Fund Limited (CWF). This transaction had only a nominal impact on the overall composition of the portfolio, as principal assets represented 61.8% of the investment portfolio at December 31, 2007, down from 65.4% at the end of 2006.

Third Canadian continued to benefit from the receipt of special capital gains distributions from its large holding in Canadian General Investments, Limited (CGI). At year-end 2007, the Company received a special capital gains dividend from CGI of $10.4 million (before tax), an increase of roughly $0.8 million over 2006.

In addition to the payment of four quarterly dividends of $0.075 per share, Third Canadian paid a year-end extra dividend of $0.90 per share on December 28, 2007. In 2006, the per share amount of the year-end extra dividend was $0.80.

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


FINANCIAL HIGHLIGHTS

(in thousands of dollars, except per share amounts)

For the Year Ended
	December 31, 2007	December 31, 2006
Net investment income	1,303	2,363
Net gain on investments	36,546	51,655
Increase in net assets resulting from operations	37,849	54,018
Increase in net assets resulting from operations - per share	7.88	11.24

	As At
	December 31, 2007	December 31, 2006
Selected data
Net assets	299,981	268,433
NAV	62.42	55.85
Selected data according to GAAP (1)
GAAP net assets	299,731	268,433
GAAP NAV	62.37	55.85

(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. However, currently this method is only applicable to the reported value of the Company’s investments as reported in the interim and annual financial statements.



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