First Annapolis Advises Dillard’s on a 10-Year Private Label and Co-branded Credit Card Program Agreement with Wells Fargo

April 1, 2014

SAN FRANCISCO and LITTLE ROCK – Wells Fargo & Company (NYSE: WFC) and Dillard’s, Inc. (NYSE: DDS) (“Dillard’s”) announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillard’s-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillard’s.

“We are truly happy to announce this new agreement with Wells Fargo, one of the strongest and most reputable banks in the country,” said Dillard’s President Alex Dillard. “We are pleased with this new partnership on many levels, from the financial arrangements to our shared vision for future program growth. We talked with a number of potential bank partners and we believe Wells Fargo’s vision for the success of our credit card program is completely aligned with ours. We are looking forward to a very rewarding partnership with Wells Fargo.”

First Annapolis Consulting, Inc. served as financial advisor with Greenhil & Co. to Dillard’s, Inc.

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