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Discover® Network Adds Dollar Tree Stores To List Of Exclusive Acceptance Merchants

July 18, 2006
Riverwoods, Illinois, July 18, 2006 – Discover® Network, a business unit of Discover Financial Services and Morgan Stanley (NYSE:MS), today announced that it has signed an agreement with Dollar Tree Stores Inc. (NASDAQ:DLTR), that will provide for exclusive acceptance at a majority of its stores. Under the terms of the agreement, Discover Network cards will be the only credit cards accepted for payment at more than 2,100 of Dollar Tree's nationwide locations. Dollar Tree Stores is the nation's largest $1.00 discount variety store chain.

Dollar stores are one of the fastest-growing retail categories in the nation. Dollar Tree Stores, a leader in this retail market with reported sales of nearly $3.4 billion for 2005, also reported a 14 percent growth in sales for the first quarter of 2006.

“With its incredible sales growth and focus on customer convenience and value, we're extremely pleased to have Dollar Tree join our growing list of merchants that exclusively accept Discover Network cards,” said Harit Talwar, executive vice president, Discover Financial Services. “Through this agreement, Dollar Tree Stores provides its customers with an additional payment option, while making it even more convenient and rewarding for customers to take advantage of the great products and value Dollar Tree Stores offer.”

In addition to exclusive card acceptance at a majority of its stores, Dollar Tree will offer Discover Network card acceptance at all of its locations. Dollar Tree operates more than 3,100 stores in 48 states.

The agreement with Dollar Tree represents another important step for Discover as it evolves from a single product issuer into a broad-based payments company supporting multiple issuers and products, while bringing choice and value to merchants, issuers and consumers. Recent initiatives include: agreements with multiple credit and prepaid issuers to issue cards on Discover Network; the launch of Discover Debit, Discover's signature debit program; the strategic alliance with China UnionPay; agreements with Wal-Mart® and GE Consumer Finance to issue Wal-Mart Discover credit card on Discover Network; and the acquisition of the PULSE ATM/debit network.

Discover Network cards include all credit, debit, and prepaid payment cards that bear the Discover Network acceptance brand mark on the front or back of the card.

About Discover Network and Discover Financial Services LLC
Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE: MS), operates the Discover Card with more than 50 million Cardmembers, and the Discover Network, which is the largest proprietary credit card network in the U.S. with more than 4 million merchant and cash access locations. Discover Financial Services also operates the PULSE ATM/debit network, which serves more than 4,200 financial institutions and includes nearly 250,000 ATMs and approximately 3.4 million POS terminals. For more information, visit www.discovercard.com, www.discovernetwork.com or www.pulse-eft.com.


About Dollar Tree Stores Inc.
Dollar Tree Stores is the nation's largest $1.00 discount variety store chain. As of July 6, 2006, Dollar Tree operated 3,146 stores in 48 states, compared to 2,845 stores in 48 states at July 7, 2005. These stores are supported by a network of nine distribution centers, strategically positioned to provide economical and efficient logistics support to any point in the contiguous United States.

CONTACT:
Leslie Beyer
Discover Financial Services LLC
(224) 405-5154