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Mon 24 Jan 2005, 13:15 Trading Statement
Discovery - Trading Statement                                                   
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 1999/007789/06)                                            
Share code: DSY                                                                 
ISIN: ZAE000022331                                                              
(`Discovery` or `the Company`)                                                  
TRADING STATEMENT                                                               
Discovery is currently finalising its results for the six months ended 31       
December 2004, which should be released before the end of February 2005. In this
regard, shareholders are advised that earnings per share and headline earnings  
per share are likely to be within a range of 25% to 45% higher than the         
corresponding reporting period of the previous year.                            
This is attributable to a robust performance across all of Discovery`s          
businesses.                                                                     
The forecast financial information on which this trading statement is based has 
not been reviewed and reported on by the Company`s auditors in accordance with  
the JSE Securities Exchange South Africa Listings Requirements.                 
Sandton                                                                         
24 January 2005                                                                 
Merchant Bank and Sponsor                                                       
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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