Jul. 8, 2008

Discover Financial Services Recognized As One Of CIO Magazine's Top Technology Innovators

Annual List Honors Best Use of Technology to Produce Business Value

RIVERWOODS, Ill.--(BUSINESS WIRE)--July 8, 2008--Discover Financial Services (NYSE: DFS) announced today that it has been recognized by CIO magazine as one of the top 100 organizations that exemplifies operational and strategic excellence in information technology. The CIO 100 award is presented annually by the magazine to recognize companies that use innovation resulting in measurable business impact.

"This year's recognition featured our technology behind the Discover(R) Motiva(SM) Card, which has won its own consumer and credit industry accolades as one of the best new products of the past year," said Diane Offereins, executive vice president and chief technology officer at Discover. "The integration of Discover's technical and business teams underscores the importance of technology to the company's bottom line."

The selection process for choosing this year's CIO 100 winners included an application detailing innovative practices in business and technology, and a review by CIO magazine editors. Discover also made the list in 2006 and 2007.

"The CIO 100 honors organizations that have used technology in innovative ways to generate value to the business," said Abbie Lundberg, Editor in Chief of CIO magazine. "Unlike other top lists, it's not just about who's biggest - it's about who's doing the most interesting and relevant things."

The 2008 awards will be presented in Colorado Springs, Colo., on Aug. 26 at the 10th annual CIO 100 Symposium(R) and Awards Ceremony. Coverage of the 2008 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) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America's cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 185 countries and territories. For more information, visit www.discoverfinancial.com.

CONTACT: Discover Financial Services
Jon Drummond
Corporate Public Relations

SOURCE: Discover Financial Services

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