DSY - Discovery Holdings Limited - Discovery exercise its call option to

DSY - Discovery Holdings Limited - Discovery exercise its call option to        
repurchase shares from one of the BEE partners                                  
DISCOVERY HOLDINGS LIMITED                                                      
(Registration number 1999/007789/06)                                            
(Incorporated in the Republic of South Africa)                                  
ISIN: ZAE000022331                                                              
JSE share code: DSY                                                             
("Discovery")                                                                   
DISCOVERY EXERCISE ITS CALL OPTION TO REPURCHASE SHARES FROM ONE OF THE BEE     
PARTNERS                                                                        
Shareholders are referred to the circular to shareholders, dated 15 November    
2005, relating to the Black Economic Empowerment ("BEE") transaction which      
required Discovery to exercise its call option to repurchase a number of        
ordinary shares calculated based on an agreed formula, after expiry of the      
lock-up period. Shareholders are accordingly advised that Discovery has         
acquired and cancelled 80 790 ordinary shares from one of Discovery`s directors,
Sindiswa Zilwa, through her investment vehicle, Newshelf 801 (Proprietary)      
Limited as one of Discovery`s BEE partners:                                     
Date of transaction      :    9 December 2010                                   
Number of shares         :    80 790                                            
Purchase price           :    R0.001 per share                                  
Transaction value        :    R80,79                                            
Nature of interest       :    Indirect beneficial                               
Transaction completed    :    Off market                                        
Clearance obtained       :    Yes                                               
Sandton                                                                         
10 December 2010                                                                
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 10/12/2010 09:08:03 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.