Canadian World Fund: Investment Update-Unaudited

July 3, 2008 11:20 AM EDT

TORONTO, CANADA--(Marketwire - July 3, 2008) - Canadian World Fund Limited (CWF) (TSX: CWF) reports on an unaudited basis that its net asset value per share (NAV) at June 30, 2008 was $6.27, resulting in year-to-date and 12-month NAV returns of -19.5% and -16.2%, respectively. These compare with the -9.1% and -14.8% returns of the benchmark Morgan Stanley Capital International All Country World Index, in Canadian dollar terms, for the same periods.

The closing price for CWF's common shares at June 30, 2008 was $4.88, resulting in year-to-date and 12-month market returns of -18.1% and -21.8%, respectively.

The geographic sector weightings of CWF's investment portfolio at market as of June 30, 2008 were as follows:

Canada                                                            26.9%
Europe                                                            24.7%
Asia                                                              21.1%
United States                                                     16.1%
Latin America                                                      8.9%
Australia                                                          1.4%
Africa                                                             0.9%

The top ten investments which comprised 29.4% of the investment portfolio at market as of June 30, 2008 were as follows:

PT Bumi Resources Tbk (Indonesia)                                  4.7%
Cash                                                               4.5%
PT Timah Tbk (Indonesia)                                           2.9%
Petrofac Limited (U.K.)                                            2.7%
Central European Distribution Corporation (Poland)                 2.6%
Equinox Minerals Limited (Canada)                                  2.5%
Autonomy Corporation plc (U.K.)                                    2.5%
Lojas Renner S.A. (Brazil)                                         2.4%
Apple Inc. (United States)                                         2.3%
Freeport-McMoRan Copper & Gold Inc. (United States)                2.3%


FOR FURTHER INFORMATION PLEASE CONTACT:
        Canadian World Fund Limited
        Jonathan A. Morgan
        President and CEO
        (416) 366-2931
        Fax: (416) 366-2729 (FAX)
        Email: cwffund@mmainvestments.com
        Website: www.mmainvestments.com

Source: Canadian World Fund Limited

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