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Press release from Business Wire

Discover Financial Services Declares Quarterly Dividend

Thursday, September 20, 2012

Discover Financial Services Declares Quarterly Dividend18:00 EDT Thursday, September 20, 2012 RIVERWOODS, Ill. (Business Wire) -- The Board of Directors of Discover Financial Services declared a quarterly dividend of $0.10 per share of common stock, payable on October 18, 2012, to stockholders of record on October 4, 2012. About Discover Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers home loans, private student loans, personal loans, online savings accounts, certificates of deposit and money market accounts through its direct banking business. Its payment businesses consist of 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 more than 185 countries and territories. For more information, visit www.discoverfinancial.com. Discover Financial ServicesInvestor Contact:Bill FranklinInvestor Relations224-405-1902williamfranklin@discover.comorMedia Contact:Jon DrummondPublic Relations224-405-1888jondrummond@discover.com