DSY - Discovery - Changes To The Board Of Directors

DSY - Discovery - Changes To The Board Of Directors                             
Discovery Holdings limited                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1999/007789/06)                                           
ISIN: ZAE000022331                                                              
Share Code: DSY                                                                 
("Discovery")                                                                   
CHANGES TO THE BOARD OF DIRECTORS                                               
Shareholders are advised of the following changes to the board of directors     
of Discovery ("the board"), resulting from the recent unbundling as             
disclosed on SENS on 13 September 2007:                                         
1.   Mr Laurie Dippenaar (Non executive Chairman), Mr Johan Burger (non-        
    executive) and Mr Paul Harris (non-executive) have resigned from the        
    board with effect from 31 December 2007;                                    
2.   Mr Monty Hilkowitz has been appointed as non-executive chairman with       
effect from 1 January 2008. Mr Hilkowitz` long service on the board         
    and international experience in the UK market, Ireland and Australia        
    place him as a natural successor to Mr Dippenaar;                           
3.   Mr Les Owen has been appointed to the board as a non-executive             
director with effect from 6 December 2007. Mr Owen is a UK citizen and      
    an actuary with over 30 years of experience in the UK and Australian        
    insurance markets. Mr Owen was Group Chief Executive of AXA Asia            
    Pacific Holdings Limited, from 2000 to 2006, and was a non-executive        
director of AXA UK until recently. Given the growing importance of          
    Discovery`s UK operations, Les brings tremendous value to the board;        
    and                                                                         
4.   Ms Tania Slabbert and Mr Peter Cooper have been appointed to the board     
as non-executive directors with effect from 1 January 2008,                 
    representing WDB Investment Holdings (WDBIH) and RMB Holdings (RMBH)        
    respectively. Ms Slabbert is CEO of WDBIH, Discovery`s BEE partner,         
    and Mr Cooper is COO of RMBH. Ms Slabbert joins the three incumbent         
female non-executive directors on the board namely Sindi Zilwa, Sonja       
    Sebotsa and Dr Judy Dlamini.                                                
Shareholders are advised of the following changes to the board Committees       
of Discovery:                                                                   
1.   Mr Laurie Dippenaar has resigned from the Remuneration Committee with      
    effect from 31 December 2007 and Dr Judy Dlamini will take over as          
    chair of the Committee on 1 January 2008. Mr Peter Cooper will join         
    the Remuneration Committee as from 1 January 2008. The Committee will       
then comprise Dr Judy Dlamini, Ms Tania Slabbert Mr Peter Cooper and        
    Mr M Olivier; and                                                           
2.   Mr Johan Burger and Mr Adrian Arnott have resigned from the Audit and      
    Risk Committee with effect from 31 December 2007 and Mr Peter Cooper        
will be appointed to and take over as chair of the Committee on 1           
    January 2008. The Committee will then comprise Peter Cooper, Sonja          
    Sebotsa and Sindi Zilwa.                                                    
Enquiries:                                                                      
Allim Milazi                                                                    
Discovery Media Relations                                                       
011-529-2048                                                                    
082-889-5874                                                                    
Sonja Malan                                                                     
FD Beachhead Media & Investor Relations                                         
011-214-2400                                                                    
083-635-6965                                                                    
07 December 2007                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 07/12/2007 12:00:01 Supplied by www.sharenet.co.za                     
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