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Discover Financial Services Among Top 100 Tech Companies

July 12, 2007

CIO Magazine's Annual List Honors Best in Operational
and Strategic Information Technology

RIVERWOODS, Ill.--(BUSINESS WIRE)--July 12, 2007--Discover Financial Services (NYSE:DFS) has been recognized by CIO magazine as one of the top 100 organizations that exemplify operational and strategic excellence in information technology (IT). The CIO 100 award is presented annually by the magazine to recognize outstanding innovation and measurable business impact.

"This recognition is a testament to the dedication our teams have to the bottom-line success of the company," said Diane Offereins, executive vice president and chief technology officer at DFS. "We build most of our core applications in-house, which puts us in a good position to both react quickly to our business partners' needs and look ahead for innovative solutions that benefit our partners and our customers."

The name of the DFS technology department was changed from Information Technology to Business Technology (BT) in 1999 to better reflect its focus on the company's bottom line and the pursuit of technology to drive business goals.

The selection process for choosing this year's CIO 100 winners included an application detailing innovative practices in business and technology, review by CIO magazine editors and writers, and a daylong meeting to debate the merits of each nominee.

According to Abbie Lundberg, Editor in Chief of CIO magazine, "The CIO 100 award recipients serve as industry role models for business and IT excellence. This year's winners demonstrate extraordinary results in a variety of important areas, including business transformation, collaboration, customer innovation and top-line contributions."

The 2007 awards will be presented in Carlsbad, Calif., on Aug. 21 at the ninth annual CIO 100 Symposium(R) and Awards Ceremony. Coverage of the 2007 CIO 100 awards will be in the Aug. 15 issue of CIO magazine and available online at www.cio.com.

About Discover Financial Services

Discover Financial Services (NYSE:DFS) operates the Discover Card with more than 50 million cardmembers, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services also operates the PULSE ATM/debit network, which serves more than 4,400 financial institutions and includes nearly 260,000 ATMs, as well as POS terminals, nationwide. For more information, visit www.discoverfinancial.com.

About CIO Magazine

Launched in 1987, CIO magazine addresses issues vital to the success of chief information officers (CIOs) worldwide. The CIO portfolio includes a companion website (www.CIO.com), CIO Executive Programs and the CIO Executive Council. CIO properties provide technology and business leaders with analysis and insight on information technology trends and a keen understanding of IT's role in achieving business goals. The U.S. edition of the magazine and website are recipients of 140 awards to date, including two Grand Neals from the Jesse H. Neal National Business Journalism Awards and two Magazine of the Year awards from the National Society of Business Publication Editors. CIO magazine is published in more than a dozen countries, including Australia, Canada, China, France and Germany. CIO magazine, CIO.com, CIO Executive Programs and the CIO Executive Council are produced by International Data Group's award-winning business unit: CXO Media Inc.

CONTACT: Discover Financial Services
Jon Drummond
Corporate Public Relations
224-405-1888
jondrummond@discover.com

SOURCE: Discover Financial Services