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Press release from Business Wire

Discover Financial Services Names New Diners Club International President

<p class='bwalignc'> <i>Payments Executive Brings Expertise and Entrepreneurial Spirit to Growing Diners Club International Business</i> </p>

Monday, September 24, 2012

Discover Financial Services Names New Diners Club International President13:36 EDT Monday, September 24, 2012 RIVERWOODS, Ill. (Business Wire) -- Discover today announced that Eduardo Tobon has been named president of Diners Club International. Tobon will be responsible for the entire Diners Club business, including marketing, product management, operations, client relations and overall business development. He will report to Diane Offereins, president of Payment Services at Discover. Most recently, Tobon served as CEO of the U.S. Cards and Payments Division at Sovereign Bank-Santander in Boston, Mass. During his 12 years at Sovereign Bank, Tobon held leadership roles for strategy, product, marketing and sales. Sovereign Bank is owned by Santander, a global bank based in Europe that operates over 14,000 branches with more than 80 million customers in 40 countries. “Eduardo's distinguished background in global financial services will help Diners Club International achieve its aggressive growth goals overseas,” Offereins said. “We greatly anticipate his valuable leadership and expertise in the global payments business.” Before his tenure at Sovereign, Tobon provided strategic consulting at two McKinsey legacy firms, Mitchell Madison Group and AT Kearney, as well as worked in production planning for Procter & Gamble. Throughout his career, Tobon has had the opportunity to live and work in several countries, including Canada, Germany and Colombia, where he was born and raised. “I could not be more thrilled to join Discover, one of the most recognized brands in financial services, and Diners Club International in particular, an iconic global brand with a rich history,” Tobon said. “Diners Club's impressive reputation for providing exceptional customer service, exclusive privileges and best-in-class products made joining the company an incredibly easy and exciting decision.” 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 About Diners Club International Diners Club International is owned by Discover Financial Services (NYSE: DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers, offering access to more than 450 airport lounges worldwide, and providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to over 845,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world. For more information, visit Media Contact:DiscoverLaura Gingiss,