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Discover® Motiva Card Receives International Award

July 31, 2008

Riverwoods, IL, July 31, 2008 – Discover Financial Services (NYSE: DFS) announced today that the Discover® MotivaSM Card recently received the “Best New Credit Card Product Launch” honor by Cards International.

The Global Awards, presented by Cards International, honors excellence in the industry by granting awards in 12 different categories: Best Merger & Acquisition, Best New Credit Card Product Launch, Best New Debit Card Product Launch, Best New Prepaid Card Product Launch, Best New Co-branded or Affinity Card Product Launch, Best Innovation in a Loyalty Program, Best Regional Card Issuer, Best Commercial Credit Card Issuer, Best Consumer Finance Company, Best Card Processor of the Year, Merchant Acquirer of the Year, and Most Promising New Entrant.

A panel of five judges selected the Discover Motiva Card for its unique benefits and incentives to help cardmembers take control of their finances and achieve financial progress.

“The Discover Motiva Card is a unique credit card that encourages consumers to take control of their finances by giving them cash rewards for good credit management,” said Julie Loeger, senior vice president of Discover Financial Services. “It’s an honor to receive international recognition by such a prestigious publication.”

With the Discover Motiva Card, cardmembers who make on-time monthly payments six times in a row receive their next month’s interest back as a Pay-On-Time BonusSM – twice a year, every year, when they pay on time every month. Pay-On-Time Bonus rewards are in addition to the unlimited Cashback Bonus® cardmembers earn on all purchases, giving them two ways to earn cash rewards and putting more money in their pockets. In order to ensure cardmembers earn their Pay-On-Time Bonus, the Discover Motiva Card offers helpful payment tools such as automatic payment reminders and free payments by phone – even on their payment due date.

To learn more about the Discover Motiva Card, visit www.discover.com/motiva.

Cards International looks at the issues affecting the credit cards business. It’s published fortnightly delivering news, features and insightful coverage of the key issues and issuers in the global cards industry. Cards International also brings you the latest developments in smart cards, chip and pin technology, marketing and fraud initiatives.

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.

Media Contact
Mai Lee Ua
Discover Financial Services
224-405-3082