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Small Business Owners Can Get Double Miles On Travel Purchases And Enjoy Travel With No Restrictions Or Black-Out Dates

April 18, 2007
Riverwoods, Illinois, April 18, 2007 – Discover Financial Services LLC, a business unit of Morgan Stanley (NYSE: MS), has announced the launch of its new Discover® Business Miles Card, which gives small business owners a way to earn miles faster and the ability to travel with no restrictions. Discover Card is introducing the new Business Miles Card following last year's successful debut of Discover Business Card as another way to provide more flexibility and control to America's small business owners.

“Small business owners have been asking us to offer a miles card that eliminates complicated redemption rules, limited flight selection and black-out dates,” said Sastry Rachakonda, director of the Discover Business Card. “We built a Business Miles Card that lets them fly on any airline at any time and earn Double Miles on purchases that are important to them.”

The Business Miles Card provides a superior rewards experience for any cardmember who wants to travel without restrictions. Unlike some other miles programs, with the new Business Miles Card, cardmembers can book their own travel, through any travel source, at any time – any airline, cruise, hotel, vacation package or car rental. That way, they're not tied to restrictive rules and can travel at times that make the most sense for their business.

Discover Business Miles cardmembers also receive the same innovative features, unmatched customer service and fraud protection built into the Discover Business Card.

Product Features

Travel With No Restrictions
•Choose how you want to book your travel, whether it's through an airline or travel agent - even online travel sites.
•Select any airline, cruise, hotel, vacation package or car rental with no advance booking and no black-out dates.
• Pay with your Miles Card.
• Redeem your available Miles for account credits for your travel purchases.

Earn More Miles Faster
•Earn Double Miles on travel and gasoline purchases, up to $5,000 each year.
•Earn up to one Mile for every dollar you spend on all other business purchases.
•Earn .25 Miles for every dollar on purchases made using Fee-Free PurchaseChecks at vendors and merchants where credit cards are not accepted.
•Earn unlimited Miles that never expire for active cardmembers.

Redeem Faster with More Options
•Redeem your Miles for travel credits to your account or cash starting at just 5,000 Miles.
•Redeem your Miles for gift cards from our brand-name Partners starting at just 1,000 Miles.

Flexible Payment and Control Tools
• PurchaseChecks: Unique fee-free PurchaseChecks let small business owners pay merchants and suppliers who do not accept credit cards, allowing cardmembers to earn Miles and receive the same standard APR and payment grace period as card purchases.
•Employee Cards: Free employee cards with real-time customizable limits and monthly spend reporting ensure that small business owners have the necessary oversight and control they need to give cards with confidence to their employees.
•Extensive Reporting and Control: Online quarterly and annual statements by category, downloadable to Quickbooks®, help ensure easy tracking of expenses and streamlined bookkeeping, especially during tax season. Simple, yet extensive, online account management tools help small business owners pay bills, redeem rewards, track or categorize expenses, and set up e-mail alerts to help them stay on top of their finances.
•Business-Sized Credit: The Discover Business Miles Card offers highly competitive rates and business-sized credit limits up to $50,000.

Small business owners can learn more about and apply for the Discover Business Miles Card by calling 1-888-DISCOVER (347-2683) or visiting www.discoverbiz.com.

About 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. Discover Financial Services also operates the PULSE ATM/debit network, which serves over 4,400 financial institutions and includes nearly 260,000 ATMs, as well as POS terminals nationwide. For more information, visit www.discovercard.com, www.discovernetwork.com or www.pulse-eft.com.

Media Contacts
Jon Drummond
Discover Financial Services LLC
(224) 405-1888
jondrummond@discoverfinancial.com

Daniel Delson
Robinson Lerer & Montgomery
(646) 805-2036
dmd@rlmnet.com