Discover Financial Services and Russian Standard Bank Announce Discover Card Issuance in Russia

Discover Financial Services, one of the leading direct banking and payments companies in the U.S., and Russian Standard Bank (RSB), the leader in the credit card market in Russia, today announced an extension of their existing relationship to allow for RSB to become the exclusive partner for issuance, acceptance and promotion of Discover cards in Russia. This is the first time that Discover cards will be issued in Europe.

The agreement was signed September 4^th, 2012 at the official opening of the Diners Club branch in Moscow.

In 2011, Russian Standard Bank became the exclusive strategic partner of Discover Financial Services with the issuing and servicing of Diners Club International (DCI) cards in Russia. The agreement signed today is a new stage in the development of this partnership in which Russian consumers will be offered a new card brand – Discover – with an innovative product that boasts services and benefits which have proven successful in the U.S. market.

Established in 1986, Discover Financial Services is one of the most recognized brands in U.S. financial services market. Today, Discover is one of the largest credit card issuers in the country, a leader of the market, and pioneer of cash rewards programs of the North American market.

"I am pleased to announce the extension of our partnership with Discover Financial Services – the company offering one of the most popular credit cards amongst American consumers,” said Dmitry Levin, CEO of Russian Standard Bank. "This partnership will allow Russian Standard Bank to enrich its portfolio of card brands and introduce the technical and service know-how of Discover, an expert of credit cards and loyalty programs in the U.S. The brand history of Discover is a story of great success which the company has achieved in just a few decades in the highly competitive market of financial services in the U.S. I am confident that the Discover card from Russian Standard Bank will become very popular amongst Russian consumers, too.”

"Our partnership with Russian Standard Bank, the largest credit card issuer in Russia, as a DCI issuer and acquirer is helping us meet our aggressive growth goals in Russia. We are thrilled to extend our presence there and work with RSB to issue Discover cards, representing the next milestone of a relationship that has been mutually beneficial,” said Diane Offereins, President of Payment Services at Discover. "By issuing cards abroad, Discover has a tremendous opportunity to build its brand globally and share its most compelling attributes – including cash rewards, service and value – with people all over the world.”

About Discover Financial Services

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.

About Russian Standard Bank

Russian Standard Bank was founded in 1999. Currently, Russian Standard Bank occupies a leading position in consumer lending. Within ten years, the Bank has created new standards of consumption in Russia. With its consumer lending programs, the Bank has attracted more than 30 million customers, and the volume of credit provided has exceeded 30 billion US dollars. During the last three years, Russian Standard Bank issued more than 30 million bank cards. In addition to credit and savings products, the Bank offers settlement products and services, namely: current accounts, payments and transfers and remote service channels. The Bank also focuses on innovative and technological services, providing Internet banking and Mobile banking services. Since 2005, the Bank has been issuing American Express Cards and acquiring merchants on to the American Express network in Russia. More detailed information is available at www.rsb.ru.