DISCOVERY HOLDINGS LIMITED - PRESS RELEASE

DISCOVERY HOLDINGS LIMITED - PRESS RELEASE                                      
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1999/007789/06)                                           
ISIN: ZAE000022331                                                              
Share Code: DSY                                                                 
("Discovery")                                                                   
PRESS RELEASE                                                                   
Shareholders are advised that Discovery has signed a letter of intent with      
Prudential Assurance Company Limited, a wholly owned subsidiary of Prudential   
plc, for the development and marketing of protection products in the United     
Kingdom using Discovery"s product and administration strengths. The products    
will be marketed under the Prudential brand, and will be distributed through    
Prudential"s existing sales channels.                                           
Sandton                                                                         
21 February 2005                                                                
Merchant bank and sponsor                                                       
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
CORPORATE FINANCE                                                               
Date: 21/02/2005 10:50:02 AM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department