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Discovery Holdings Limited - Vitality Members Score With Cheaper Home Loans
DISCOVERY HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/007789/06)
ISIN: ZAE000022331
Share Code: DSY
(`Discovery`)
MEDIA RELEASE FROM DISCOVERY
VITALITY MEMBERS SCORE WITH CHEAPER HOME LOANS
20 June 2005
Home owners who are on the Discovery Vitality programme will soon be able to
enjoy a monthly cash boost - with the money either available to spend, or going
into one`s retirement savings.
The HomeEquity Booster is a further case of Discovery rewarding Vitality members
for taking active steps to improve their health through the Vitality programme,
by giving an 8% discount on monthly home loan payments, up to a maximum of R1
000 a month.
Vitality members who have a home loan with First National Bank (`First
National`) will qualify for the HomeEquity Booster. Those who have home loans
with another institution can still qualify by switching their home loan to First
National.
The discounts can be deployed in two ways: the amounts can either be credited to
one`s monthly DiscoveryCard account, or the discount can be extended to
Discovery`s new generation retirement product, the retirement Optimiser.
If deployed in the Optimiser, the funds will be channeled into one of
Discovery`s market-linked fund options. Policyholders receive a further boost at
retirement of a further, retrospective 7% discount on home loan repayments, up
to a maximum of the equivalent of R1 750 a month, into their retirement fund.
`Once again, Vitality members can enhance their lifestyles by looking after
their health,` says Neville Koopowitz, head of Discovery Vitality.
`And with the Optimiser, the reward for looking after your health
results in a boost to your financial health.`
ENDS
Notes to editors:
* Vitality members who do not have a home loan with First National
can switch their home loans in order to take advantage of the HomeEquity
Booster. First National will match the rate on the current home loan up to prime
less 1,8%. No transfer duties will be charged, but the bond registration fees
can be capitalised into the loan.
* The discount is applicable for 10 years. Vitality members get a
discount of 8% up to a maximum of R1 000 per month on home loan
repayments.
* Upon retirement, holders of the Optimiser receive a further
discount of 7% (for a total discount of 15%) retrospectively, up to a maximum
overall of R1 750 a month.
* Individuals who participate in the Discovery Life Plan through a
group scheme, and who take up the retirement Optimiser, get a further discount
on the 8% on their home loans, for a discount of 10%.
Distributed by : Beachhead Media & Investor Relations
Patrick Lawlor 011 214 2410/ 082 459 6709 /
patrick@bmsa.co.za
Rio Mathlaku 011 214 2402/ 082 907 7943 / rio@bmsa.co.za
On behalf of : Discovery Vitality
Neville Koopowitz
011 529 2888
Sandton
20 June 2005
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 20/06/2005 04:51:26 PM
Produced by the JSE SENS Department
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