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From our dictionary:

dis•creet

Pronunciation: (di-skrEt'), [key]
adj.
1. judicious in one's conduct or speech, esp. with regard to respecting privacy or maintaining silence about something of a delicate nature; prudent; circumspect.
2. showing prudence and circumspection; decorous: a discreet silence.
3. modestly unobtrusive; unostentatious: a discreet, finely wrought gold necklace.

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