Wal-Mart and GE Consumer Finance Plan to Issue a New Credit Card on the Discover Network

BENTONVILLE, AR & STAMFORD, CT & RIVERWOODS, IL – Wal-Mart, GE Consumer Finance and Discover Financial Services, a business unit of Morgan Stanley, today announced plans to launch a new credit card on the Discover® Network in a milestone agreement that will offer Wal-Mart customers more ways and places to save. The new card, Wal-Mart Discover, will be issued by GE Consumer Finance and will be available to customers by March 2005.

“It’s a great card for Wal-Mart customers shopping in our store and on walmart.com,” said Jane Thompson, president, Wal-Mart Financial Services. “It has no annual fee, can be used both inside and outside of Wal-Mart stores and offers our customers up to 1 percent back from GE on all purchases. The customer benefits are a direct result of our commitment to be the low cost leader.”