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Tue 18 May 2004, 10:53 DEALINGS IN SECURITIES BY DIRECTOR
DISCOVERY HOLDINGS LIMITED - DEALINGS IN SECURITIES BY DIRECTOR                 
  DISCOVERY HOLDINGS LIMITED                                                      
  (Incorporated in the Republic of South Africa)                                  
  (Registration number : 1999/007789/06)                                          
  ISIN  : ZAE000022331                                                            
  Share Code : DSY                                                                
  DEALINGS IN SECURITIES BY DIRECTOR                                              
  In compliance with rules 3.63 - 3.74 of the JSE Securities Exchange South Africa
  (`JSE") Listings Requirements, the following information is disclosed in respect
  of Neville Koopowitz, a director of Discovery Holdings Limited:                 
  Class of security          :Ordinary shares                                     
  Nature of transaction      :Sale                                                
  Number of shares           :5 000                                               
  Date of transaction        :13 May 2004                                         
  Selling price              :R13.15 per share                                    
  Total value of transaction :R65 750                                             
  Nature and extent of                                                            
  director"s interest        :Direct beneficial                                   
  Clearance given            :Yes                                                 
  Class of security          :Ordinary shares                                     
  Nature of transaction      :Sale                                                
  Number of shares           :10 000                                              
  Date of transaction        :13 May 2004                                         
  Selling price              :R13.15 per share                                    
  Total value of transaction :R131 500                                            
  Nature and extent of                                                            
  director"s interest        :Direct beneficial                                   
  Clearance given            :Yes                                                 
  Class of security          :Ordinary shares                                     
  Nature of transaction      :Sale                                                
  Number of shares           :1 320                                               
  Date of transaction        :13 May 2004                                         
  Selling price              :R13.20 per share                                    
  Total value of transaction :R17 424                                             
  Nature and extent of                                                            
  director"s interest        :Direct beneficial                                   
  Clearance given            :Yes                                                 
  Sandton                                                                         
  18 May 2004                                                                     
  Merchant Bank and Sponsor                                                       
  RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
  CORPORATE FINANCE                                                               
  Date: 18/05/2004 10:15:02 AM Produced by the JSE SENS Department
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