Discovery Holdings Limited - Destiny Health Appoints New CEO

Discovery Holdings Limited - Destiny Health Appoints New CEO                    
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number 1999/007789/06)                                            
Share code: DSY                                                                 
ISIN : ZAE000022331                                                             
("Discovery" or "Discovery Holdings")                                           
Destiny Health Appoints New CEO                                                 
Financial services expert tapped to propel Discovery"s consumer-driven health   
plans into the mainstream US healthcare market                                  
Johannesburg, 5 February 2004 - Discovery Holdings announced today that its US  
subsidiary, Destiny Health, has appointed J. Scott Spiker as President and Chief
Executive Officer, replacing Ken Linde, who will remain as a member of the      
board.                                                                          
Spiker joins Destiny Health with broad financial services-industry experience,  
including senior level positions in banking, investment brokerages, health      
insurance and benefits consulting companies. He brings expertise in both large  
environments and entrepreneurial endeavors, helping organizations define their  
core strengths and devise and execute appropriate market and growth strategies. 
"Discovery undertook an extensive process to identify and approach Scott for    
this position," said Adrian Gore, CEO of Discovery Holdings. "Destiny Health is 
making significant progress, and we have recognized the need for a CEO in the US
that brings the stature and discipline that will continue to propel Destiny     
Health forward, as a leader in providing consumer-driven health plans. Scott"s  
strengths, style and personality are a perfect match for leading our skilled    
management team.  As we embark in our next phase of growth through significant  
partnerships with The Guardian and Tufts Health Plan, Scott"s leadership skills 
are exactly what we need."                                                      
Most recently, Spiker served as president, CEO and director of the Stanton      
Group, an employee benefits company based in Minneapolis, where he led the      
privately owned company through numerous acquisitions and rapid growth. Prior to
that, as president and COO of Definity Health, he was instrumental in bringing  
the company to fully operational status by building a disciplined, strategic    
approach to business development and operations for the privately held provider 
of healthcare benefits. Additionally, Spiker has served in senior leadership    
positions at Dain Rauscher, Norwest Corporation (now Wells Fargo Corporation)   
and other financial institutions.                                               
"Destiny Health occupies a unique place in the newly emerging field of consumer 
driven health plans" said Spiker.  "As the company with the most experience in  
this field, they bring solutions to many of the fundamental issues facing       
healthcare in the U.S.  The team led by Ken Linde has done much to make Destiny 
Health operationally vital. Now I look forward to working with that team and our
partners, Guardian and Tufts, to bring this plan to the mainstream."            
Spiker holds an MBA from the University of Chicago Graduate School of Business  
and a Bachelor"s degree from the U.S. Naval Academy. Following graduation from  
the academy, Spiker fulfilled his military commitment by serving as navigator   
aboard a frigate, undertaking a four-year tour of duty in India and West Africa,
and holding the position of head of Navy enlisted recruiting for the Midwest at 
Great Lakes Naval Training Center. A Chicago-area native, he will relocate along
with his family, which includes wife, Nancy, and two teenage daughters.         
The Destiny Health team in the US market is supported by about 69 people at the 
Discovery head office in Johannesburg. The number of Destiny staff in           
Johannesburg is expected to rise to 300 within the next two and a half years.   
ENDS                                                                            
For more information, please contact:                                           
Rosemary Renton                                                                 
Corporate Communications Consultants                                            
Tel: (011) 783 8926   Fax: (011) 783 7608   Cell: 083 365 5152                  
On behalf of:                                                                   
Adrian Gore   CEO, Discovery Holdings                                           
Contact: (011) 529 2800                                                         
Sandton                                                                         
5 February 2004                                                                 
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE                                                               
Date: 05/02/2004 11:32:03 AM Supplied by www.sharenet.co.za                     
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