DISCOVER CAPITAL HOLDING CORP., (PINK SHEETS: DSCH)

Editors Note:

Last week, we had the opportunity to introduce Discover Capital Holding Corporation (PK: DSCH), and its business plan that takes advantage of the economic climate in the United States, actively rolling up and consolidating beleaguered financial companies under one, much stronger umbrella.

Today, DSCH has announced another ambitious initiative - one that involves opportunities created by the past economic instability in Latin America. While major financial institutions have largely abandoned the economically troubled region, DSCH has launched an effort to offer much needed financial services to disenfranchised individual and corporate customers in Latin America. 

Opportunistic? Yes. Interesting? Definitely.

Even more interesting is the press release that came after the bell today announcing the launch of Discover Capital Latin America and the appointment of Manuel E. Iglesias, a distinguished attorney and business leader who has consulted George Bush, George W. Bush, and Florida Governor Jeb Bush, to spearhead this Latin American effort.

Notably, this bold young company currently trades on the Pink Sheets, which reduces its visibility in the short term. However, news of today’s variety will assuredly bring increased attention to its efforts and visibility to its stock.  We suggest you take a moment or two to acquaint yourself with this news and our previous profile.
 

*** TODAY'S BREAKING NEWS ***

Press Release Wednesday October 23, 5:36 pm ET  Source: Discover Capital Holding Corp.

UNIONDALE, N.Y.--(BUSINESS WIRE)--Oct. 23, 2002--Discover Capital Holding Corporation (Pink Sheets: DSCH - News), a diversified financial company, today announced the creation of a new division that will focus on the financial needs and opportunities of the Latin American market. 

The company also announced that distinguished attorney and business leader Manuel E. Iglesias would begin immediately as the new president and chief executive officer of the Discover Capital Latin America division. Mr. Iglesias will also serve on the board of directors of Discover Capital Holding Corp. 

During the recent economic turmoil experienced by numerous Latin American countries, a number of U.S. banks have shut down or curtailed operations in the region. Management at Discover Capital believes this pull out is partially based on a misunderstanding of local, regional and national economies and their unique and specific needs. 

"We see what we believe is a tremendous opportunity in Latin America right now," said Eli Dinov, chairman and CEO of Discover Capital Holding Corporation. "We believe our banking, brokerage and loan experience could be of beneficial interest to individuals and businesses in that market. We couldn't ask for a better fit than Manuel Iglesias, a renowned expert on financial affairs in Latin America, to spearhead our efforts. His expertise will not only take advantage of the areas abandoned by other financial institutions, but is broad enough and deep enough to develop multi-tiered services for individuals, businesses and governments." 

"A financial services company that seeks to work within the unique and often challenging economies of Latin America needs a strong U.S. base of operations," said Manuel E. Iglesias, president and CEO of Discover Capital Latin America. "The Discover Capital consumer, commercial, investment banking, private banking and stock brokerage businesses can succeed in Latin America because we have a deep understanding of the nuances of the fragile and varied economies on the peninsula and the continent." 

Manuel E. Iglesias was senior partner at his own legal firm in Miami, Florida for more than ten years. The firm specializes in clients that are involved in U.S. trade, agriculture and overseas investment. In addition to holding senior positions at other legal firms dealing with Latin American and international matters, including representing U.S. multinationals in Venezuela and other Andean Pack nations, Mr. Iglesias has served as the special assistant to the General Counsel at the U.S. Dept. of Agriculture. He received his Bachelor of Science degree at the School of Foreign Service, Georgetown University. He received his M.B.A. at the University of Chicago and his Juris Doctor degree at the School of Law, University of Chicago. Mr. Iglesias studied German at the Goethe Institute in Munich, Germany and Salzberg, Austria and studied French at the University of Lausanne in Switzerland. 

Mr. Iglesias served as a political appointee to the Reagan administration and has been a key figure in the Republican Party of Florida. He was part of the George W. Bush legal team in the Florida presidential election recount and served on the George Bush re-election campaign and the George W. Bush campaign for president. Mr. Iglesias participated with Florida Governor Jeb Bush on trade delegations that visited Argentina and Chile and also served on the finance committee for Governor Jeb Bush's gubernatorial campaign. The honorable Governor Jeb Bush can provide a personal reference for Mr. Iglesias.

About Discover Capital Holding Corp. 
Discover Capital Holdings, Corp. is a diversified financial services holding company that is aggressively acquiring financial services companies at distressed multiples. DSCH recently acquired Indianapolis Securities, Inc., a Florida-based brokerage established in 1987, with more than $160-million of financial assets under management and approximately 3,000 customer accounts managed by 40 registered representatives throughout 11 offices. Discover Capital Holdings, Corp. has also recently acquired certain financial assets of Florida Discount Securities, Inc., a full service retail securities firm with $10 Million in Customer assets and more than 1,500 customers. 

Safe Harbor Statement
Statements in this press release about the company's future expectations, including the financial progress and position in the marketplace, the anticipation of strong third and fourth quarter results, and the development of licensing and branding opportunities, and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of Section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. It is important to note that actual results and ultimate corporate actions could differ materially from those such forward-looking statements based on such factors as softening consumer demand based on national or political events or based on consumers' personal satisfaction or desire for our products for a variety of reasons (style, quality, etc.); Such "forward-looking statements" are subject to risks and uncertainties set forth from time to time in the Company's SEC reports. 

Visit the company's Web site at: www.discovercapitalholdings.com 

Contact: Market Pathways for Discover Capital Holding Corp. Media & Investor Relations: Shannon T. Squyres, 949/955-1860

Discover Capital Holdings, Corp. is a diversified financial services holding company that is aggressively acquiring financial services companies at distressed multiples. Discover Capital Holdings has implemented a roll-up strategy with a specific technique of acquiring companies or assets in the financial sector at very small multiples.
 

***DSCH recently acquired Indianapolis Securities, Inc., a Florida-based brokerage established in 1987, with more than $160-million of financial assets under management and approximately 3,000 customer accounts managed by 40 registered representatives throughout 10 branch offices around the country: Florida, Michigan, New York (Long Island and New York), Maryland, and Wisconsin . 

***Acquired certain financial assets of Florida Discount Securities, Inc., a full service retail securities firm with $10 Million in Customer assets and more than 1,500 customers. 

***The company has entered into a letter of intent to acquire 51% of e-techknowledge, Inc. a global financial software development and consulting company. 

***Acquired 51% of eAfterHours.com, an online trading platform that allows investors to trade 24 hours a day, 365 days a year. eAfterHours.com has also entered into a joint venture partnership with InvesTrend Research, an independent analyst firm that has approximately 51,000 users. Through this partnership, Indianapolis Securities will be the broker of choice to execute financial transactions for InvesTrend's user base. 
 

For More Information ...

Corporate Offices

165 EAB Plaza Center
West Tower, 6th Floor
Uniondale, NY 11556
tel: (516) 522-2555
email: info@discovercapitalholdings.com 

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