Discover® Card Offers Cardmembers O% Convenience Fee For Electronic Tax Filing March 03, 2005 RIVERWOODS, Ill., March 3, 2005…Discover Financial Services, a business unit of Morgan Stanley (NYSE:MWD), today announced an exclusive 0% convenience fee offer for Discover Cardmembers who file and pay their 2004 income taxes online. For the seventh consecutive year, Discover® Card is offering its Cardmembers an easy and rewarding way to prepare and pay their taxes electronically through www.discovercard.com/taxcenter. This year, Cardmembers who file and pay their taxes online with H&R® Block through Discover Card Tax Center using their Discover Card will receive a 0% convenience fee, compared to 2.25% to 3% convenience fees with other cards. Discover Cardmembers will also earn a Cashback Bonus® award of up to 1% when they use their Discover Card to pay their preparation fees and any taxes due. “No convenience fee and earn a Cashback Bonus award – it’s an unbeatable deal,” said Roger Hochschild, president and chief operating officer, Discover Financial Services, Inc. “At Discover Card, we strive to make financial services simpler and convenient for our Cardmembers. Through this exclusive 0% offer, we are providing a no hassle, straightforward approach to preparing and filing taxes this season for our Cardmembers.” Discover Financial Services, Inc., a business unit of Morgan Stanley (NYSE:MWD), operates the Discover Card with more than 50 million Cardmembers, the Discover Network with more than 4 million merchant and cash access locations and the PULSE ATM/Debit network currently serving more than 4,000 banks, credit unions and savings institutions. For more information, visit www.discovercard.com, www.discovernetwork.com or www.pulse-eft.com. CONTACT: Jennifer Kang Discover Financial Services, Inc. (224) 405-2347 jenniferkang@discoverfinancial.com # # #