Discovery Holdings Limited - Further Information Relating To Discovery"s Black

Discovery Holdings Limited - Further Information Relating To Discovery"s Black  
Economic Empowerment Transaction                                                
DISCOVERY HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1999/007789/06)                                           
ISIN: ZAE000022331                                                              
Share Code: DSY                                                                 
("Discovery")                                                                   
FURTHER INFORMATION RELATING TO DISCOVERY"S BLACK ECONOMIC EMPOWERMENT          
TRANSACTION                                                                     
Shareholders are referred to the SENS announcement published on 13 September    
2005 relating to Discovery"s Black Economic Empowerment transaction ("BEE       
announcement").  As set out in paragraph 5.5 of the BEE announcement, Discovery 
has a right, at the end of 10 years, to purchase from WDB Investments Holdings  
(Proprietary) Limited, Dr Thabane Vincent Maphai, the Discovery Foundation and  
the black non-executive directors, such number of ordinary shares at 0,1 cent   
per share as will be calculated with reference to a formula to provide Discovery
with a notional return. Shareholders are advised that the weighted average      
notional return is approximately 0.84% (84 basis points) over the prime rate.   
A circular containing the full details of the transaction, including a notice of
general meeting, will be posted to Discovery shareholders in due course.        
Sandton                                                                         
26 September 2005                                                               
Joint transactional adviser and transaction sponsor                             
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Joint transactional adviser                                                     
BusinessMap Investment Strategy Advisers (Pty) Ltd                              
Financial adviser to WDBIH                                                      
Morgan Stanley                                                                  
Corporate law advisers to Discovery                                             
Edward Nathan (Pty) Ltd                                                         
Legal advisers to WDBIH                                                         
MJ King Inc.                                                                    
Structuring adviser                                                             
Rand Merchant Bank (A division of FirstRand Bank Limited)                       
Reporting accountants and auditors                                              
PricewaterhouseCoopers Inc.                                                     
Independent sponsor                                                             
PricewaterhouseCoopers Inc.                                                     
Date: 26/09/2005 03:40:27 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department