Metris Companies Inc. (NYSE:MXT) and Modell's Sporting Goods today announced the introduction of a new MasterCard card for Modell's customers.

The Modell's Platinum MasterCard(R) Card, issued by Metris subsidiary Direct Merchants Credit Card Bank, N.A., has no annual fee, a low introductory rate and a rewards program through which cardmembers earn MVP points on all purchases made with their card. Cardmembers earn one MVP point for every $5 spent in card purchases anywhere MasterCard is accepted, and one MVP point for every dollar spent at Modell's (excluding taxes). With every 400 MVP points accumulated, cardmembers automatically receive a $20 MVP Award Certificate that can be used to purchase Modell's merchandise.

Prospective cardmembers may apply for the Modell's Platinum MasterCard by visiting any Modell's store location, online at www.gottagetmycard.com or by calling 1-800-934-3595. Once approved, all new cardmembers will receive a coupon for 10% off their next Modell's purchase.

"We are very excited about our partnership with Modell's, which is one of the nation's oldest and most respected sporting goods companies," said Metris Executive Vice President of Operations Matt Melius. "We couldn't be more pleased to be teaming up with a great organization like Modell's. We look forward to providing their millions of customers with a valuable new payment option and rewards program."

"This partnership offers wonderful opportunities for both companies," said Modell's Chief Executive Officer Mitchell Modell. "We believe the Modell's Platinum MasterCard represents an outstanding value for our current and future customers because they will be rewarded with extra MVP points every time they use their card."

"The Modell's Platinum MasterCard rewards Modell's loyal customers with specialized benefits as well as the convenience, security and worldwide acceptance of a MasterCard card," said Ann Camarillo, senior vice president, Regional Key Accounts, MasterCard International.

About Metris Companies

Metris Companies Inc., based in Minnetonka, Minn., is one of the largest bankcard issuers in the United States. The company issues credit cards through Direct Merchants Credit Card Bank, N.A., a wholly owned subsidiary headquartered in Phoenix, Ariz. For more information, visit www.metriscompanies.com or www.directmerchantsbank.com.

About Modell's

Founded in 1889, Modell's Sporting Goods is America's largest and oldest family-owned and operated sporting goods, footwear, and apparel retailer with 127 stores in New York, New Jersey, Pennsylvania, Maryland, Connecticut, Delaware, Virginia, New Hampshire, Massachusetts, Rhode Island and Washington, DC. Modell's consistently meets the growing demand for more selection, value, and quality merchandise by offering a full line of brand name sporting goods, apparel, and footwear for the entire family. For store locations, call 1-800-ASK-MODELLS or visit the Modell's website at www.modells.com.

About MasterCard International

MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard, through its principal operating subsidiary, MasterCard International Incorporated, manages a family of well-known, widely accepted payment card brands including MasterCard(R), Maestro(R) and Cirrus(R) and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 105 countries and in 48 languages, giving the MasterCard brand a truly global reach and scope. For more information go to www.mastercardinternational.com.

Certain information discussed in this press release may constitute forward-looking statements within the meaning of the federal securities law. Forward-looking statements are based on certain assumptions by management and are subject to risks, trends and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks associated with Direct Merchants Bank's ability to comply with its agreements with regulators regarding the safety and soundness of its operations; the effect of government policy and regulation, whether of general applicability or specific to us, including restrictions and/or limitations relating to our minimum capital requirements, reserving methodologies, dividend policies and payments, growth, and/or underwriting criteria; the effects of litigation involving us and of the previously announced SEC investigation; the higher delinquency rate, credit loss rate, charge-off rate and bankruptcy rate of our target market of middle-market consumers; our high liquidity requirement; interest rate risks; competition; dependence on the securitization markets and other funding sources to fund our business; the effect of the restatement of our financial statements; the effect of changes in the credit card market as the result of recent judicial decisions with respect to MasterCard and Visa; and general economic conditions that can have a negative impact on our financial performance.

For further information on risks that could impact us and statements in this press release, please refer to our filings with the Securities and Exchange Commission, including our current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K.

Contacts

Metris Companies, Minneapolis
Investor/Media Relations:
Jeff Grosklags, 952-525-5074
Fax: 952-358-4428
or
Dan Klores Communication
Dave Donovan, 212-981-5240
Fax: 212-981-5440