Dealings in securities by directors DISCOVERY HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1999/007789/06) ISIN: ZAE000022331 Share Code: DSY ("Discovery") DEALINGS IN SECURITIES BY DIRECTORS Shareholders are referred to the announcement released on SENS on 21 September 2007 relating to shares acquired by members of the Discovery Senior Management team from FirstRand Limited (“FirstRand”) as part of the unbundling of FirstRand’s interest in Discovery to its shareholders. In order to facilitate the acquisition of these shares, the affected members of the Discovery Senior Management team obtained 5-year term financing that becomes due and payable on or before 30 November 2012. Implicit in the share purchase programme was a commitment by the Senior Management team to maintain a long-term holding in the shares, equating to a minimum period of 5 years, which matched the financing term and provided a mechanism to repay the obligation when due. With the expiration of the 5-year term, certain members of the Discovery Senior Management team may dispose of some or all of the acquired shares in order to extinguish existing obligations. In this regard, the following disposals of these acquired shares have taken place. In compliance with the JSE Limited Listings Requirements, shareholders are advised of the following sale of shares by directors: Director : J Broomberg Company : Discovery Health Pty Limited Date of transaction : 24 October 2012 Nature of transaction : On market disposal of shares Class of securities Ordinary shares Number of securities : 9 873 Sale price : R55,2076 Transaction value : R545 064.63 Nature of interest : Direct beneficial Clearance obtained : Yes Director : H Mayers Company : Discovery Holdings Limited Date of transaction : 25 October 2012 Nature of transaction : On market disposal of shares Class of securities Ordinary shares Number of securities : 91 808 Sale price : R55,0061 Transaction value : R5 050 000.03 Nature of interest : Direct beneficial Clearance obtained : Yes Sandton 26 October 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 26/10/2012 11:19:00 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.