News from the Wire

Discover recognized for IT innovation

Wednesday, October 01, 2008 — 10:25:43 (EDT)

Riverwoods, Ill., Oct. 1, 2008 -- Discover Financial Services has been named to the 2008 InformationWeek 500 list of the most innovative users of information technology for the third consecutive year.

InformationWeek recognized Discover for its technology success with two projects: creating the technology behind the new Discover® MotivaSM Card and testing the viability of mobile banking. The company ranked No. 144 overall on the annual list.

“Much of Discover’s success over the years has come from keeping our work focused on the needs and expectations of our customers,” said Diane Offereins, Discover’s chief technology officer. “This recognition of our high-profile projects also stands as a testament to the talent and hard work that all of our technology teams bring to their jobs every day, regardless of the task.”

The InformationWeek list, now in its 20th year, is unique among corporate rankings because it spotlights the power of innovation in information technology, rather than simply identifying the biggest IT spenders.

“For 20 years, the InformationWeek 500 has honored the most innovative users of business technology,” said InformationWeek Editor-in-Chief Rob Preston. “Year after year, InformationWeek 500 companies harness technology to improve efficiency, boost productivity, drive revenue, and establish a competitive advantage. We applaud this year’s winners, and the CIOs and other executives whose ingenuity and risk taking are at the center of business technology innovation.”

For details on the InformationWeek 500, visit www.informationweek.com/iw500/ .

About Discover Financial Services

Discover Financial Services (NYSE: DFS - News) 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 .

About InformationWeek Business Technology Network

(www.informationweek.com/ )

The InformationWeek Business Technology Network provides business technology executives with unique perspective, market leading research and innovative tools that work in lock step with their work flow – from defining and framing business technology objectives through to the evaluation and recommendation of specific solutions. The InformationWeek Business Technology Network delivers the entire market, from SMBs with www.bMighty.com to large-scale global companies with InformationWeek. We scale across the most critical technology categories in the market — security with www.DarkReading.com , storage with www.ByteandSwitch.com , application architecture with www.IntelligentEnterprise.com , network architecture with www.NetworkComputing.com and communications with www.NoJitter.com . Through its multi-media platform and unique content-in-context information distribution system, the InformationWeek Business Technology Network provides trusted information developed both by editors and real world CIO/IT professionals delivered how and when business technology executives want it, 24/7.

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Source: Company press release.