Discovery - Trading Statement And Cautionary Announcement

Discovery - Trading Statement And Cautionary Announcement                       
DISCOVERY HOLDINGS LIMITED ("Discovery")                                        
(Incorporated in the Republic of South Africa)                                  
(Registration number:  1958/003546/06)                                          
ISIN: ZAE000022331                                                              
Share Code:  DSY                                                                
("Discovery" or "the Company")                                                  
TRADING STATEMENT AND CAUTIONARY ANNOUNCEMENT                                   
Discovery, which comprises Discovery Health, Discovery Life, Discovery Vitality 
and Destiny Health, is currently finalising its results for the six months ended
31 December 2003, which should be published on or about 26 February 2004. In    
this regard, shareholders are advised that earnings per share will be materially
higher ("materially" being a change of between 10% and 30%, as defined by the   
JSE Listings Requirements) than the corresponding reporting period of the       
previous year.                                                                  
The financial information on which this trading statement is based has not been 
reviewed or reported on by the Company"s auditors and shareholders are therefore
advised to exercise caution when trading in the Company"s shares until the      
results are published.                                                          
Johannesburg                                                                    
16 February 2004                                                                
Sponsor                                                                         
RAND MERCHANT BANK, a division of FirstRand Bank Limited, CORPORATE FINANCE     
Date: 16/02/2004 10:00:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department