DISCOVERY LIMITED - Dealings In Securities By Directors

Dealings In Securities By Directors

DISCOVERY 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
30 December 2009 regarding zero-cost collar hedging transactions
that were entered into by Adrian Gore and Barry Swartzberg on 29
December 2009 (“the collar”) and a further announcement released on
2 March 2012 advising of certain changes to the terms of the
collar agreement.


The call options within the zero-cost collar are now due, and
since the current share price exceeds the option strike price on
the call options, shareholders are advised that Mr Gore and Mr
Swartzberg have     concluded transactions in relation to the
2,424,918 options sold by Mr Gore and 851,998 options sold by Mr
Swartzberg and the corresponding Discovery shares held by Mr Gore
and Mr Swartzberg. This has resulted in the disposal of the
affected shares and Mr Gore and Mr Swartzberg receiving the amount
of the strike price under the options. The obligations under the
options have terminated.

Director                     :   Adrian Gore
Company                      :   Discovery Limited
Nature of the transaction    :   Sale of ordinary shares and
                                 termination of the collar
Date of transaction:         :   6 March 2013
Number of shares sold        :   2,424,918
Price                        :   R48.35
Value of transaction         :   R117 244 785.30
On market/off market         :   Off market
Nature of interest           :   Indirect beneficial
Clearance                    :   Yes

Director                     :   Barry Swartzberg
Company                      :   Discovery Limited
Nature of the transaction    :   Sale of ordinary shares and
                                 termination of the collar
Date of transaction:         :   6 March 2013
Number of shares sold        :   851,998
Price                        :   R48.51
Value of transaction         :   R41 330 422.98
On market/off market         :   Off market
Nature of interest           :   Indirect beneficial
Clearance                    :   Yes

Sandton
7 March 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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