Discovery Holdings Limited - Announcement

Discovery Holdings Limited - Announcement                                       
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration : 1999/007789/06)                                                 
ISIN :          ZAE000022331                                                    
Share Code :    DSY                                                             
Shareholders   are   referred  to  the  press  release  by   FirstRand   Limited
("FirstRand")  today,  31  July 2003, announcing that  the  independent  enquiry
conducted by attorneys Hofmeyr Herbstein & Gihwala and accountancy firm Deloitte
&  Touche into allegations made against Mr Mac Maharaj had been concluded.   The
Discovery  board  will similarly allow Mr Maharaj seven (7)  days  to  submit  a
written  response  to  the  final report on the  investigation  and  expects  to
announce a decision shortly thereafter.                                         
31 July 2003                                                                    
Sponsor                                                                         
Rand Merchant Bank                                                              
A division of FirstRand Bank Limited                                            
Corporate Finance                                                               
Date: 31/07/2003 02:23:04 PM Supplied by www.sharenet.co.za                     
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