Jul. 1, 2008

Discover(R) Card Rewards U.S. Troops And Their Families This Independence Day Through Labor Day With Double Cashback Bonus(R) On Purchases Made At U.S. Military Bases Worldwide

RIVERWOODS, Ill.--(BUSINESS WIRE)--July 3, 2008--Discover Financial Services (NYSE: DFS) announced today that they will be giving Double Cashback Bonus(R) or Double Miles to all Discover Cardmembers who make purchases at U.S. military bases from July 4th through Labor Day. Double rewards will be given automatically on up to $1,000 in Discover(R) Card purchases at these bases.

"We wanted to recognize and reward those who serve our country by helping them make their money worth more, especially given the difficult economic conditions," said Julie Loeger, senior vice president of brand and product management at Discover Financial Services. "With this program, military families will be able to stretch their dollars on necessities that matter most right now, like gas and groceries."

The program will include more than 175 military bases nationwide, many more bases overseas, and includes everyday purchases like gas, groceries, lodging, telecommunications and other categories of merchants found on-base. Cardmembers can learn more at Discover.com/military.

In addition, Discover is proud to welcome Operation Homefront as a Cashback Bonus Partner from July 13 through Labor Day. Operation Homefront is a non-profit organization that provides emergency assistance and morale to our troops, their families and to wounded warriors when they return home, and has provided critical assistance to more than 45,000 military families in need. Discover will provide an additional 20% match to the Cashback Bonus donated by cardmembers to Operation Homefront.

Discover Card's consumer credit cards are founded on a commitment to helping cardmembers earn more meaningful rewards while giving them more choices and allowing them to spend smarter. Products include:

    --  Discover More(R) Card gives cardmembers who use credit in many
        different categories a way to make their money worth more.

    --  Discover Motiva(SM) Card rewards cardmembers not just for
        making payments, but for making progress.

    --  Discover Open Road(R) Card rewards cardmembers for everyday
        spending with added value on gasoline and automotive

    --  Miles by Discover Card rewards cardmembers who want flexible
        travel with no restrictions.

    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, and PULSE, one of the nation's leading ATM/debit networks. For more information, visit www.discoverfinancial.com.


    CONTACT: Discover Financial Services
             Laura Gingiss

    SOURCE: Discover Financial Services

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