First let's clarify few things.
1.most of the time disc is compressed as it acts as pressure regulator and shock absorber in spine.
2. When this Bulge out of spine then it compresses the nerve.
3. As there is water in the Disc and with age water in the Disc dries.
Yes there are exercises related to nerve which will help you getting your pain down as well.
Next Steps
As these nerve related exercises are quite specific, you need help from a Physiotherapist, so consult one nearby your place, who knows about these exercises.