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The dti welcomes the joint venture announced recently between South Africa's Discovery Holdings and UK-based Prudential Plc.

The company that has been formed as a result of the joint venture, Prudential Health, will make major inroads into the medical insurance market in the United Kingdom. Prudential Plc began the search for a private medical insurance partner three years ago, and identified Discovery as a leading player in this market. The joint venture is testimony to the sterling quality of our services sector and the realisation of the government's objective to ensure the internationalisation of South African business.

With the bulk of the servicing for this new venture based in South Africa, more than 300 jobs will be generated locally, the fulfilment of yet another of government's objectives.

We wish Prudential Health every success in their new venture.

Issued by: Department of Trade and Industry
3 May 2004

Source: Department of Trade and Industry (http://www.dti.gov.za)