Discovery Communications, Inc. Announces Completion of Syndication of $500 Million Incremental Credit Facility

(Silver Spring, Md.) Discovery Communications, Inc. (Nasdaq: DISCA, DISCB, DISCK) today announced that its subsidiary, Discovery Communications Holding, LLC (“DCH”), has completed the syndication of $500 million principal amount of incremental Term C loans under DCH’s existing credit facility, at an initial interest rate of LIBOR plus 3.25%, with a LIBOR floor of 2.00%, and otherwise on terms similar to the existing credit facility. In addition to other expenses of the transaction, the Term C loans will be made net of a 2.00% upfront fee. The new Term C facility is a supplement to the existing credit agreement and will mature in May 2014, and prior to that date will amortize in quarterly principal installments totaling 1% annually beginning on June 30, 2009. Net proceeds of the incremental Term C loans will be used to refinance outstanding indebtedness. The closing of the new credit facility is expected later this week and is subject to customary closing conditions.

About Discovery Communications
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world’s number one nonfiction media company reaching more than 1.5 billion cumulative subscribers in over 170 countries. Discovery empowers people to explore their world and satisfy their curiosity through 100-plus worldwide networks, led by Discovery Channel, TLC, Animal Planet, Science Channel, Planet Green, Investigation Discovery and HD Theater, as well as leading consumer and educational products and services, and a diversified portfolio of digital media services including HowStuffWorks.com. For more information, please visit www.discoverycommunications.com.

“Cumulative subscribers” in the U.S. refers to the collective sum of the total number of U.S. subscribers to each of Discovery’s U.S. channels. A U.S. subscriber is a single household that receives the applicable Discovery channel from its cable, satellite or other television provider. The term cumulative subscribers in the U.S. also includes approximately eight million cumulative subscribers in Canada who receive direct feeds of TLC and Military Channel from Discovery networks U.S. Cumulative subscribers outside the U.S. refers to the collective sum of the total number of international subscribers to each of Discovery’s networks or programming services outside of the U.S. An international subscriber is a single household that receives the applicable Discovery network or programming service from its cable, satellite or other television provider, including those who receive Discovery networks from pay-television providers without charge pursuant to various pricing plans that include free periods and/or free carriage.