Discover Financial Services (NYSE:DFS) plans to report its second quarter 2009 results before the market opens on Thursday, June 18, 2009. The earnings release will be available on Discover's corporate Web site at www.discoverfinancial.com.

A conference call to discuss the firm's results, outlook and related matters will be held at 10 a.m. Central time. The general public is invited to listen to the call by dialing 866-383-7998 (U.S. domestic) or 617-597-5329 (international) passcode 44004973, or via a live audio webcast through the Investor Relations section of the Web site. For those unable to listen to the live broadcast, a replay will be available on our Web site or by dialing 888-286-8010 (U.S. domestic) or 617-801-6888 (international), passcode 27205014, beginning approximately two hours after the event. The replay of the conference call will be available through July 18, 2009.

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. 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 student and personal loans, as well as savings products such as certificates of deposit and money market accounts. 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.

Discover Financial Services
Investor Contact
Craig Streem, Vice President, Investor Relations, 224-405-3575
or
Media Contact
Leslie Sutton, Director, Public Relations, 224-405-3965