TORONTO, CANADA, Jul 22, 2010 (Marketwire via COMTEX) -- Third Canadian General Investment Trust Limited's net asset value per share (NAV) returns, with dividends reinvested, for the three and six months ended June 30, 2010 were -6.7% and -3.3%, respectively. By comparison, the returns of the benchmark S&P/TSX Composite Index, on a total return basis, for the same periods were -5.5% and -2.5%. Third Canadian's market return for shareholders was -2.4% for the second quarter and 6.8% year to date.

Net asset value at June 30, 2010 was $164,271,000, a decrease of 3.7% from the 2009 year-end value of $170,559,000. This decrease can be largely attributed to the year-to-date market value return of -3.8% in its principal asset segment, consisting of its holdings in Canadian General Investments, Limited and Canadian World Fund Limited. The corresponding net asset values per share at June 30, 2010 and December 31, 2009 were $34.18 and $35.49, respectively.

During each of the first two quarters of both 2010 and 2009, Third Canadian paid regular dividends of $0.075 per share.

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)

                                                Six Months Ended
                                          June 30, 2010        June 30, 2009
                                   -----------------------------------------
Net investment income                               734                  936
Net gain (loss) on investments                   (7,018)              25,247
                                   -----------------------------------------
Increase (decrease) in net assets
 resulting from operations                       (6,284)              26,183
Increase (decrease) in net assets
 resulting from operations - per
 share                                            (1.31)                5.45

                                                      As at
                                           June 30, 2010   December 31, 2009
                                    ----------------------------------------

Selected data (1)
Net asset value                                  164,271             170,559
Net asset value per share                          34.18               35.49

Selected data according to GAAP (1)
Net assets                                       163,115             170,297
Net assets per share                               33.94               35.44

(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.