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Tue 31 Aug 2004, 11:41 DISCOVERY HOLDINGS LIMITED - DEALING IN SECURITIES
DISCOVERY HOLDINGS LIMITED - DEALING IN SECURITIES BY DIRECTORS                 
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number : 1999/007789/06)                                          
ISIN  : ZAE000022331                                                            
Share Code : DSY                                                                
With reference to the announcement made earlier regarding the preference shares 
issued by Discovery Life Limited, and in compliance with the JSE Securities     
Exchange South Africa Listings Requirements, the following information is       
disclosed:                                                                      
Director                      :  Mr. H P Mayers                                 
Class of security             :  Ordinary shares                                
Nature of transaction         :  Redemption of preference shares and purchase   
                                 of Discovery ordinary shares with the proceeds 
Number of shares              :  2 156 833                                      
Date of transaction           :  31 August 2004                                 
Purchase price                :  R12.57 per share                               
Total value of transaction    :  R27 111 390.81                                 
Nature and extent of                                                            
director`s interest           :  Indirect beneficial                            
Clearance given               :  Yes                                            
Director                      :  Mr. J M Robertson                              
Class of security             :  Ordinary shares                                
Nature of transaction         :  Redemption of preference shares and purchase   
                                 of Discovery ordinary shares with the proceeds 
Number of shares              :  86 273                                         
Date of transaction           :  31 August 2004                                 
Purchase price                :  R12.57 per share                               
Total value of transaction    :  R1 084 451.61                                  
Nature and extent of                                                            
director`s interest           :  Direct beneficial                              
Clearance given               :  Yes                                            
Director                      :  Mr. N S Koopowitz                              
Class of security             :  Ordinary shares                                
Nature of transaction         :  Redemption of preference shares and purchase   
of Discovery ordinary shares with the proceeds 
Number of shares              :  503 261                                        
Date of transaction           :  31 August 2004                                 
Purchase price                :  R12.57 per share                               
Total value of transaction    :  R6 325 990.77                                  
Nature and extent of                                                            
director`s interest           :  Indirect beneficial                            
Clearance given               :  Yes                                            
Sandton                                                                         
31 August 2004                                                                  
Merchant Bank and Sponsor                                                       
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE
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