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Mon 4 Oct 2004, 16:55 ACCEPTANCE AND EXERCISE OF OPTIONS BY DIRECTORS
DISCOVERY HOLDINGS LIMITED - ACCEPTANCE AND EXERCISE OF OPTIONS BY DIRECTORS    
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number : 1999/007789/06)                                          
ISIN  : ZAE000022331                                                            
Share Code : DSY                                                                
In compliance with the JSE Securities Exchange South Africa Listings            
Requirements, the following information is disclosed:                           
Director                   :  Mr. A Gore                                        
Class of security          :  Ordinary shares                                   
Nature of transaction      :  Acceptance and exercise of options                
Number of shares           :  250 000                                           
Date of transaction        :  30 September 2004                                 
Price                      :  R14,40 per share                                  
Total value of transaction :  R3 600 000.00                                     
Nature and extent of                                                            
director`s interest        :  Direct beneficial                                 
Clearance given            :  Yes                                               
Director                   :  Mr. H P Mayers                                    
Class of security          :  Ordinary shares                                   
Class of security          :  Ordinary shares                                   
Nature of transaction      :  Acceptance and exercise of options                
Number of shares           :  250 000                                           
Date of transaction        :  30 September 2004                                 
Price                      :  R14,40 per share                                  
Total value of transaction :  R3 600 000.00                                     
Nature and extent of                                                            
director`s interest        :  Direct beneficial                                 
Clearance given            :  Yes                                               
Director                   :  Mr. J M Robertson                                 
Class of security          :  Ordinary shares                                   
Class of security          :  Ordinary shares                                   
Nature of transaction      :  Acceptance and exercise of options                
Number of shares           :  250 000                                           
Date of transaction        :  30 September 2004                                 
Price                      :  R14,40 per share                                  
Total value of transaction :  R3 600 000.00                                     
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      :  Acceptance and exercise of options                
Number of shares           :  250 000                                           
Date of transaction        :  30 September 2004                                 
Price                      :  R14,40 per share                                  
Total value of transaction :  R3 600 000.00                                     
Nature and extent of                                                            
director`s interest        :  Direct beneficial                                 
Clearance given            :  Yes                                               
Director                   :  Mr. B Swartzberg                                  
Class of security          :  Ordinary shares                                   
Nature of transaction      :  Acceptance and exercise of options                
Number of shares           :  250 000                                           
Date of transaction        :  30 September 2004                                 
Price                      :  R14,40 per share                                  
Total value of transaction :  R3 600 000.00                                     
Nature and extent of                                                            
director`s interest        :  Direct beneficial                                 
Clearance given            :  Yes                                               
Sandton                                                                         
4 September 2004                                                                
Merchant Bank and Sponsor                                                       
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE                                                               
Date: 04/10/2004 04:46:55 PM                     
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