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DISCOVERY HOLDINGS LIMITED - DESTINY HEALTH AND GUARDIAN PARTNERSHIP EXPAND INTO US MID-ATLANTIC STATES 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 AND GUARDIAN PARTNERSHIP EXPAND INTO US MID-ATLANTIC STATES Johannesburg - April 28, 2004. Discovery Health subsidiary, Destiny Health and Guardian Life Insurance Company of America announced yesterday that they will be expanding their marketing alliance to employers in the Maryland, Virginia and Washington D.C. "The decision to expand into the Mid-Atlantic region reflects the success of the initial venture as well as a groundswell of interest in consumer-driven healthcare," says Adrian Gore, CEO of Discovery. "Destiny Health set out to break even its core Illinois operation in early 2004, establish product credibility in the US market and roll out our joint venture with Guardian. Having achieved the first two and with the Guardian partnership having taken root in Illinois, we believed it was an appropriate time to start expanding into new markets," says Scott Spiker, president and CEO of Destiny Health. The opportunities in the mid-Atlantic were key to the decision to expand to this region first. The area has a very large concentration of small to medium sized companies. Employees of these companies are accustomed to product constructs similar to The Destiny Health Plan but have also experienced large premium increases due to soaring healthcare inflation. In view of the fact that Destiny Health"s Comprehensive Consumer-driven Healthcare model is proven to control rising healthcare costs through lower premium increases, Guardian"s successful and established Mid-Atlantic sales office is well-placed to replicate the success they have experienced in Illinois. "Destiny Health has the most experience in balancing comprehensive protection with personal health incentives and delivers on its promises by encouraging policyholders themselves to get engaged in cutting healthcare costs," says Richard A. Whyte, senior vice president of Guardian. Spiker confirms the view that Destiny Health"s model is motivating employees to change their behaviour in ways that lower costs and make possible premium increases that are well below the industry average. He cited a survey showing that 47% of new members report asking their pharmacist for lower-cost prescriptions, 41% say that they are taking better care of themselves and 37% cited improvements in their preventative healthcare regimen. These findings are supported by national studies showing that when employees become members of a consumer-driven health plan, generic drug usage increases and emergency room visits drop, Spiker said. The content of this press release is unrelated to the cautionary announcement published on SENS on 31 March 2004 and in the press on 1 April 2004. Full details of the aforementioned cautionary announcement will be released by Discovery on Friday 30 April 2004. About Destiny Health Destiny Health motivates active participation in healthcare and rewards the member behaviour change necessary for a healthier lifestyle. The Destiny Health Plan is a health insurance solution for those who seek greater value, superior choice, outstanding service and comprehensive coverage. This consumer-focused strategy is modelled after Destiny Health"s parent company, Discovery Health, an international life and health insurance company that has successfully enrolled over 1.5 million members in its medical plan since 1992. Combined Destiny and Discovery Health are the largest providers of consumer-driven healthcare in the world. For more information visit www.destinyhealth.com About Guardian The Guardian Life Insurance Company of America (Guardian) is the fourth largest mutual life insurance company in the US. As of December 2002, Guardian and its subsidiaries had $34.1 billion in assets. Founded in 1860, Guardian is listed among Fortune magazines top 300 businesses - and in 2003 was ranked once again as on of the top 10- most admired life and health companies in Fortune"s "America"s Most Admired companies" list. With 5 500 employees, over 2 700 financial representatives and 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products and offer 401 (k), mutual fund and annuity investment products, and trust services. More information on Guardian can be obtained on www.glic.com For more information, please contact: Roz McComb (082 925 8806)/Rosemary Renton (082 491 0364) Corporate Communications Consultants Tel: (011) 783 8926 Fax: (011) 783 7608 On behalf of: Adrian Gore CEO, Discovery Holdings Contact: (011) 529 2800 Sandton 28 April 2004 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) CORPORATE FINANCE Date: 28/04/2004 12:57:42 PM Supplied by www.sharenet.co.za Produced by the JSE SENS Department
