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Tue 28 Jan 2003, 8:48 Discovery - Further cautionary announcement
Discovery Holdings Limited                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number  1999/007789/06)                                           
Share code:  DSY          ISIN:  ZAE000022331                                   
("Discovery" or "the company")                                                  
Further cautionary announcement                                                 
Further to the cautionary announcement dated 17 December 2002, shareholders are 
advised that negotiations with a third party are still in progress, which, if   
successfully concluded, may have an effect on the price of the company`s shares.
Accordingly, shareholders are advised to continue exercising caution when       
dealing in their shares until a further announcement is made.                   
Sandton                                                                         
27 January 2003                                                                 
RAND MERCHANT BANK                                                              
A division of FirstRand Bank Limited                                            
CORPORATE FINANCE                                                               
Merchant bank and sponsor                                                       
Date: 28/01/2003 07:23:00 AM Produced by the JSE SENS Department                

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