DVY.Y Discovery Cap Corp Cda

Following the previously announced shareholder approval of its liquidation plan,
Discovery Capital Corporation ("Discovery") (TSX VENTURE:DVY.Y) will now proceed
to satisfy closing conditions for completion of the plan of liquidation, and
finalize the value of the liquidating distribution to be made to shareholders.
The plan of liquidation was explained in Discovery's Management Information
Circular dated July 19, 2007 in respect of its shareholders' meeting held on
August 21, 2007 at which the shareholder approval was obtained.


Shareholders are advised of the following important dates with respect to their
ownership of Discovery shares:


Halt in trading on the TSX Venture Exchange - close of trading on Thursday,
September 6, 2007


Record Date for Liquidating Distribution - Tuesday, September 11, 2007

Effective Date for Distribution - on or about September 14, 2007

Only shareholders of Discovery as of the Record Date will receive the
liquidating distribution as of the Distribution Date. It is intended that the
shares of Discovery will cease to trade on the TSX Venture Exchange after close
of business on Thursday, September 6, 2007, and that delisting of the shares
will occur thereafter. Discovery Capital will be dissolved on completion of the
Plan of Liquidation.


Other Relevant Information

As previously announced and explained in the Management Information Circular
dated July 19, 2007 provided for the shareholders' meeting, the liquidating
distribution is comprised of cash and "receipts" ("Receipts") representing
shareholders' beneficial interests in certain illiquid and other portfolio
assets of Discovery ("Residual Assets"). Discovery Capital Management Corp.,
which will be owned by current senior management of Discovery on closing of the
transaction, will act as custodian of the Residual Assets represented by the
Receipts. As liquidity becomes available from the Residual Assets, there will be
distributions in the future to shareholders of Discovery as of the Record Date.
For these purposes, DCMC will obtain from Discovery's transfer agent a list of
shareholders of record, as of the Record Date, and maintain this list for future
distribution purposes. The services of the Company's transfer agent, CIBC Mellon
Trust Company, will be terminated following completion of the Plan of
Liquidation.


Discovery shares held by RRSPs and RRIFs

Discovery has been advised that the Receipts to be issued by Discovery
representing shareholders' beneficial interests in the Residual Assets
("Beneficial Interests") will not be qualified investments for registered plans
("Plans") such as RRSPs and RRIFs. Any Plan which is a Discovery shareholder
will be subject to tax on any income earned on the Beneficial Interests and a
monthly tax of 1% of the value of the Beneficial Interests.


A trustee of a Plan ("Trustee") acting on behalf of a Plan that is a Discovery
shareholder cannot continue to hold the Beneficial Interests in the Plan and
will want to transfer the Beneficial Interests out of the Plan to avoid the
imposition of the taxes mentioned above. If the Trustee sells the Beneficial
Interests to a purchaser that deals with the Plan at arm's length within the
meaning of the Tax Act, the annuitant of the Plan will not realize any tax
liability as a result of such transfer. If the Trustee transfers the Beneficial
Interests to the annuitant of the Plan, such annuitant will realize a taxable
distribution in an amount equal to the difference between the fair market value
of the Beneficial Interests received and the amount paid by the annuitant to the
Plan for the Beneficial Interests. If the annuitant of the Plan purchases the
Beneficial Interests from the Plan for an amount equal to the fair market value
thereof, the annuitant will not realize any income tax as a result of such
transfer.


Accordingly, individuals who are annuitants of RRSPs or RRIFs which are
Discovery shareholders should consult their tax advisors to determine whether or
not it is advisable, in their own personal circumstances, to "swap" their
Discovery shares out of their RRSPs or RRIFs prior to the Record Date in order
that the Receipts representing the Beneficial Interests are received at the
outset in a non-RRSP or RRIF account.


The exact income tax consequences of the plan of liquidation to each Discovery
shareholder and each individual who is an annuitant of a Plan which is a
Discovery shareholder will depend on each such person's particular
circumstances. Discovery strongly recommends that all shareholders consult their
own tax advisors for personal tax advice on the tax consequences of the plan of
liquidation.


For more information about Discovery Capital Corporation, please visit
www.discoverycapital.com.


John McEwen, President and Co-Chief Executive Officer

Harry Jaako, Chairman and Co-Chief Executive Officer

This news release may include statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. The Company cautions that actual performance will be affected by
a number of factors, many of which are beyond its control. Future events and
results may vary substantially from what the Company currently foresees.

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