Amex to Trade Options on Discovery Holding Company

Amex to Trade Options on Discovery Holding Company

NEW YORK, July 20 /PRNewswire/ -- The American Stock Exchange (Amex) will launch trading in options on Thursday, July 21, 2005 on the Nasdaq Stock Market listed stock of Discovery Holding Company (Stock Symbol: DISCA/Option Symbol: UIO)

Discovery Holding Company options will open with strike prices of 12-1/2 - 15 - 17-1/2 and position limits of 2,500,000 shares. The options will trade on the January expiration cycle with initial expirations in August, September, October and January. The specialist will be Kellogg Capital Group, LLC.

Discovery Holding Company is a holding company for its wholly-owned subsidiary, Ascent Media Group, Inc., and 50%-owned Discovery Communications, Inc. (DHI). Ascent Media is a leading provider of creative, media management and network services to the media and entertainment industries. DCI is the leading provider of non-fiction entertainment in the world. Through The Discovery Channel, TLC, Animal Planet, The Travel Channel, Discovery Health Cannel, nine other emerging networks in the U.S., and over 85 separate international network feeds, DCI reaches more than one billion cumulative subscribers around the globe and is one of the world's most recognized television brands.

For more information on any Amex-listed company, please visit www.amex.com.

The American Stock Exchange(R) (Amex(R)) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 164 ETFs. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com.

Source: American Stock Exchange

CONTACT: Mary Chung, American Stock Exchange, +1-212-306-1641, mary.chung@amex.com

Web site: http://www.amex.com/

------- Profile: Ent