RIVERWOODS, Illinois – April 21, 2005 – Discover
Financial Services, a business unit of Morgan
Stanley (NYSE:MWD), today announced that Federated
Department Stores, Inc. began accepting Discover
Network Cards on April 1, 2005. Now, shoppers
at Federated's 450 Macy's and Bloomingdale's stores
can pay with Discover Network Cards.
“Federated
is one of the nation's leading department store
retailers and we are thrilled that they are joining
the more than 4 million merchants on the Discover
Network,” said David W. Nelms, chairman and chief
executive officer, Discover Financial Services,
Inc. “This marks an important milestone for us
because it means that another major U.S. retailer
now accepts the Discover Card and more Cardmembers
will get the chance to earn cash rewards from
America's #1 credit card rewards company,” added
Nelms.
The agreement with Federated
is the latest in a series of significant announcements
for Discover Financial Services. Others include
the company's recent acquisition of PULSE®
EFT Association, a fast-growing ATM/debit network,
and the partnership with GE Consumer Finance in
offering two new credit cards.
Discover's
ability to provide merchants with a strong, loyal
customer base of more than 50 million Discover
Cardmembers as well as new issuers and products
like stored value are driving new merchant signings.
The company signed more than one million new merchant
locations in 2004.
About Discover
Financial Services
Discover Financial
Services, a business unit of Morgan Stanley (NYSE:MWD),
operates the Discover Card with more than 50 million
Cardmembers, the Discover Network with more than
4 million merchant and cash access locations and
the PULSE ATM/Debit network currently serving
over 4,000 banks, credit unions and savings institutions.
For more information, visit www.discovercard.com,
www.discovernetwork.com
or www.pulse-eft.com.
About Federated Department Stores,
Inc.
Federated, with corporate offices
in Cincinnati and New York, is one of the nation's
leading department store retailers, with fiscal
2004 sales of more than $15.6 billion. Federated
operates more than 450 stores in 34 states, Guam
and Puerto Rico under the names of Macy's and
Bloomingdale's. The company also operates macys.com
and Bloomingdale's By Mail.
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Contact:
Jennifer Kang
Discover Financial Services, Inc.
(224)
405-2347