TORONTO, CANADA -- (Marketwire) -- 03/04/10 -- Third Canadian General Investment Trust Limited's (Third Canadian)(TSX: THD) net asset value per share (NAV) return for 2009, with dividends reinvested, was 59.9%, outperforming the 35.1% total return of the benchmark S&P/TSX Composite Index (S&P/TSX). For 2009, Third Canadian's market return was 32.9%. Net asset value at December 31, 2009 was $170,559,000, representing a 57.2% increase from $108,481,000 at year end 2008. The corresponding NAVs at December 31, 2009 and December 31, 2008 were $35.49 and $22.57, respectively.

With the rapidly deteriorating global economic conditions experienced in the latter half of 2008, and continuing on into the first half of 2009, it was reassuring to see equity markets rallying worldwide, combined with increased consumer confidence. All ten sectors of the S&P/TSX were in positive territory, with Financials leading the way with an increase of over 45% for the year. Third Canadian's superior performance relative to the benchmark can be largely attributed to the portfolio return of 80.3% in its principal asset segment, consisting of its holdings in Canadian General Investments, Limited (CGI) and Canadian World Fund Limited. As in many prior years, Third Canadian benefitted from the receipt of a special capital gains dividend from CGI of $3.8 million (before tax).

In addition to the payment of four quarterly dividends of $0.075 per share, Third Canadian paid a year-end extra dividend of $0.20 per share on December 30, 2009. Based on the year-end share price of $26.37, total dividend payments during 2009 represented a yield of 1.9%.

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)

                                                    For the Year Ended
                                              ------------------------------
                                                 December 31,  December 31,
                                                         2009          2008
                                              ------------------------------
Net investment income                                   1,935           453
Net gain (loss) on investments                         63,013      (190,554)
                                              ------------------------------
Increase (decrease) in net assets resulting
 from operations                                       64,948      (190,101)
Increase (decrease) in net assets resulting
 from operations - per share                            13.51        (39.56)

                                                           As at
                                              ------------------------------
                                                 December 31,   December 31,
                                                         2009           2008
                                              ------------------------------

Selected data (1)
----------------------------------------------
Net asset value                                       170,559        108,481
Net asset value per share                               35.49          22.57

Selected data according to GAAP (1)
----------------------------------------------
Net assets                                            170,297        107,753
Net assets per share                                    35.44          22.42

(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.