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Press Release


Discover Financial Services Announces Platinum PartnersSM

Riverwoods, Illinois, July 1, 1999…Discover Financial Services, a business unit of Morgan Stanley Dean Witter & Co. (NYSE:MWD), announced today the first of its growing list of Platinum PartnersSM where Discover® Platinum Cardmembers who receive a yearly Cashback Bonus® Award of up to 1%* can DOUBLE the award through certificates that are redeemed at select merchants.

The initial list of Platinum Partners includes:

United Airlines
Hyatt Hotels & Resorts
Alamo® Rent A Car
Blockbuster®
Rand McNally & Company
Foot Locker®/Lady Foot Locker®/Kids Foot Locker®/Champs Sports®
1-800-flowers.com
Omaha Steaks®
Lobster Gram®
Samsonite Company Stores®
Royal Caribbean International®, Carnival Cruises®, Delta Certified VacationsTM and other vacation packages offered through Amerenhance
MusicDirect.com®
Virtual Vineyards
Discover Brokerage


*Based on annual level of purchases

"We've taken the favorite reward program in the industry and made it even better for our Platinum Cardmembers," said Roger Hochschild, Executive Vice President, Business Development, Discover Financial Services, Inc. "We already have a tremendous set of partners and will be adding more over the coming months."

Launched earlier this year, Discover Platinum has been very successful. The Company has received the highest volume of applications since the launch of the Discover Card in 1986.

Discover Financial Services, a business unit of Morgan Stanley Dean Witter & Co., operates the Discover Card brands with more than 50 million Cardmembers and the Discover Business Services network. Discover Business Services is the largest independent credit card network in the United States with more than 3.6 million merchant and cash access locations.



CONTACT:
Beth L. Metzler
Discover Financial Services, Inc.
P: 224/405-2209
bethmetzler@discoverfinancial.com