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EXHIBIT 21
MONTHLY CERTIFICATEHOLDERS' STATEMENT
Discover Card Trust 1991 E
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CREDIT CARD
PASS-THROUGH CERTIFICATES
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Under the Pooling and Servicing Agreement dated as of Nov. 1, 1991 (the
"Agreement") by and among Greenwood Trust Company (the "Servicer") , Discover
Receivables Financing Group Inc. and Wilmington Trust Company, as Trustee ,the
Servicer is required to prepare certain information each month regarding current
distributions to Investor Certificateholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect to the distribution of January 21, 1997 , and with respect to the
performance of the Trust during the Due Period ended in December 31, 1996 ,is
set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Class A Certificate or Class B
Certificate. Certain other information is presented based on the aggregate
amounts for the Trust as a whole.
A. Information Regarding the Current Monthly Distribution
(stated on the basis of $1,000 original principal amount).
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1. The total amount of the distribution to Class A Certificate-
holders on January 21, 1997 , per $1,000 interest .....
........................................... $ 85.868055575
2. The total amount of the distribution to Class B Certificate-
holders on January 21, 1997 , per $1,000 interest .....
........................................... $ 6.541666750
3. The amount of the distribution set forth in paragraph 1 above
in respect of interest on the Class A Certificates , per
$1,000 interest ........................... $ 2.534722225
4. The amount of the distribution set forth in paragraph 2 above
in respect of interest on the Class B Certificates , per
$1,000 interest ........................... $ 6.541666750
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5. The amount of the distribution set forth in paragraph 1 above
in respect of principal on the Class A Certificates , per
$1,000 interest ........................... $ 83.333333350
6. The amount of the distribution set forth in paragraph 2 above
in respect of principal on the Class B Certificates , per
$1,000 interest ........................... $ 0.000000000
B. Information Regarding the Performance of the Trust.
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1. Collections of Receivables.
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(a) The aggregate amount of Finance Charge Collections processed
during the related Due Period .......... $ 8,121,771.42
(b) The aggregate amount of Principal Collections processed
during the related Due Period .......... $ 86,738,431.60
(c) The aggregate amount of Finance Charge Collections processed
during the related Due Period which was allocated in
respect of the Investor Certificates ... $ 3,154,496.02
(d) The aggregate amount of Principal Collections processed
during the related Due Period which was allocated in
respect of the Investor Certificates ... $ 73,432,756.19
(e) The aggregate amount of Finance Charge Collections processed
during the related Due Period which was allocated in
respect of the Class A Certificates .... $ 2,543,738.81
(f) The aggregate amount of Principal Collections processed
during the related Due Period which was allocated in
respect of the Class A Certificates .... $ 66,753,896.96
(g) The aggregate amount of Finance Charge Collections processed
during the related Due Period which was allocated in
respect of the Class B Certificates .... $ 610,757.21
(h) The aggregate amount of Principal Collections processed
during the related Due Period which was allocated in
respect of the Class B Certificates .... $ 6,678,859.23
(i) The aggregate amount of Finance Charge Collections processed
during the related Due Period which was allocated in
respect of the Seller Certificate ...... $ 4,967,275.40
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(j) The aggregate amount of Principal Collections processed
during the related Due Period which was allocated in
respect of the Seller Certificate ...... $ 13,305,675.41
2. Principal Receivables in the Trust.
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(a) The aggregate amount of Principal Receivables in the Trust
as of the end of the Due Period ended in December 31, 1996
(which reflects the Principal Receivables represented by the
Seller Certificate and the Investor Certificates) .........
........................................ $ 559,416,001.32
(b) The amount of Principal Receivables in the Trust rep-
resented by the Class A Certificates (the "Class A
Interest") as of the Due Period Ended in December 31, 1996
........................................ $ 133,333,333.28
(c) The amount of Principal Receivables in the Trust rep-
resented by the Class B Certificates (the "Class B
Interest") as of the Due Period Ended in December 31, 1996
........................................ $ 40,000,000.00
(d) The Class A Interest and the Class B Interest set forth in
paragraph 2 (b) and 2 (c) above as a percentage of the
aggregate amount of Principal Receivables set forth in
paragraph 2 (a) above .................. 30.98%
(e) The Class A Interest set forth in paragraph 2 (b) above as a
percentage of the aggregate amount of Principal Receivables
set forth in paragraph 2 (a) above ..... 23.83%
(f) The Class B Interest set forth in paragraph 2 (c) above as a
percentage of the aggregate amount of Principal Receivables
set forth in paragraph 2 (a) above ..... 7.15%
(g) The Deficit Controlled Amortization Amount (after giving
effect to the payments made on such Distribution
Date ...................................$ 0.00
3. Investor Charged-Off Amount.
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(a) The aggregate amount of Receivables charged-off as uncolle-
ctible during the Due Period ended in December 31, 1996
allocable to the Investor Certificates (the "Investor
Charged-Off Amount") .................. $ 969,623.66
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(b) The aggregate amount of Receivables charged-off as Uncollec-
tible during the Due Period ended in December 31, 1996
allocable to the Class A Certificates (the "Class A
Charged-Off Amount") .................. $ 781,890.14
(c) The sum of (i) the aggregate amount of Receivables charged-off as
uncollectible during the Due Period ended in December 31, 1996 allocable
to the Class B Certificates and (ii) the sum of (a) the positive
difference, if any, between the Class B Subordinated Payment and Class B
Finance Charge Collections (less Class B Excess Servicing) and (b) the
amount by which the Investor Interest for the Class B Certificates is
reduced pursuant to subsection 4.03(c) (i)(C)(the "Class B Charged-Off
Amount") $ 641,260.65
(d) The Cumulative Class A Charged-Off Amount on ..........
............ January 21, 1997 ........ $ 0.00
(e) The Cumulative Class B Charged-Off Amount on ..........
............ January 21, 1997 ........ $ 0.00
4. Investor losses; Reimbursement of Charge-Offs.
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(a) The amount of Class A Investor Loss , as defined in
Section 4.06 (b) of the Agreement, during the Due Period
ended in December 31, 1996 ......... $ 0.00
(b) The amount of Class B Investor Loss , as defined in
Section 4.06 (b) of the Agreement, during the Due Period
ended in December 31, 1996 ......... $ 0.00
(c) The amount of Class A Investor Loss set forth in Paragraph 5
(a) above, per $1,000 interest ( which will have the effect
of reducing, pro rata, the amount of each Class A Certficate-
holder's investment) ................... $ 0.000000000
(d) The amount of Class B Investor Loss set forth in Paragraph 5
(b) above, per $1,000 interest ( which will have the effect
of reducing, pro rata, the amount of each Class B Certficate-
holder's investment) ................... $ 0.000000000
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(e) The total amount reimbursed to the Trust in the current
month pursuant to Section 4.06 (c) of the Agreement,
if any, in respect of Class A Investor Losses in prior months
........................................ $ 0.00
(f) The total amount reimbursed to the Trust in the current
month pursuant to Section 4.06 (c) of the Agreement,
if any, in respect of Class B Investor Losses in prior months
........................................ $ 0.00
(g) The amount set forth in paragraph 5 (e) above, per $1,000
interest (which will have the effect of increasing, pro rata,
the amount of each Class A Certificateholder's investment)
........................................ $ 0.000000000
(h) The amount set forth in paragraph 5 (f) above, per $1,000
interest (which will have the effect of increasing, pro rata,
the amount of each Class B Certificateholder's investment)
........................................ $ 0.000000000
(i) The aggregate amount of Class A Investor Losses in
the Trust as of the end of the day on January 21, 1997
........................................ $ 0.00
(j) The aggregate amount of Class B Investor Losses in
the Trust as of the end of the day on January 21, 1997
........................................ $ 0.00
(k) The amount set forth in paragraph 5 (i) above , per $1,000
interest (which will have had the effect of reducing , pro
rata , the amount of Class A Certificateholder's
investment ) ........................... $ 0.000000000
(l) The amount set forth in paragraph 5 (j) above , per $1,000
interest (which will have had the effect of reducing , pro
rata , the amount of Class B Certificateholder's
investment ) ........................... $ 0.000000000
5. Investor Servicing Fee.
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(a) The amount of the Class A Monthly Servicing Fee payable by
the Trust to the Servicer for the month of December 31, 1996
..................................... $ 277,783.18
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(b) The amount of the Class B Monthly Servicing Fee payable by
the Trust to the Servicer for the month of December 31, 1996
..................................... $ 66,696.34
6. Available Subordinated Amount.
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(a) The amount available to be applied pursuant to Sections
4.03 (c) (i) (B) and (C) of the Agreement as of the end of
the day on January 21, 1997 ........ $ 40,000,000.00
(b) The amount set forth in paragraph 6(a) above as a percentage of
the Class A Interest. ...................... 30.00%
7. Available Class B Credit Enhancement Amount.
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(a) The amount available to be drawn under the Class B Credit
Enhancement pursuant to Sections 4.03 (c) (i) (G) and (H) of
the Agreement as of the end of the day on January 21, 1997
.......................................... $ 30,400,000.00
(b) The amount set forth in paragraph 8 above as a percentage of
the Class B Interest. .................... 76.00%
8. The Pool Factor.
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The Pool Factor represents the ratio of the amount of the
Class A Investor Interest as of the end of the day on
January 21, 1997 to the amount of the Class A
Investor Interest as of the Closing Date. The amount of
Class A Certificateholder's pro rata share of the Class A
Investor Interest can be determined by multiplying the
original denomination of the Class A Certificateholder's
Certificate by the Pool Factor ........... 0.33333333
The Pool Factor represents the ratio of the amount of the
Class B Investor Interest as of the end of the day on
January 21, 1997 to the amount of the Class b
Investor Interest as of the Closing Date. The amount of
Class B Certificateholder's pro rata share of the Class B
Investor Interest can be determined by multiplying the
original denomination of the Class B Certificateholder's
Certificate by the Pool Factor ........... 1.00000000
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9. The aggregate outstanding balance of Receivables that were
delinquent by the 30 to 59 days as of the close of business
on the last day of the Due Period related to such Distribution
Date .....................................$ 13,699,245.39
10. The aggregate outstanding balance of Receivables that were
delinquent by 60 days as of the close of business on the
last day of the Due Period related to such Distribution
Date .....................................$ 19,732,895.89
Greenwood Trust Company as Servicer
By: ______________________________
Title: Vice President, Director of
Accounting and Treasurer
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MONTHLY SERVICER CERTIFICATE
DISCOVER CARD TRUST 1991 E
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CREDIT CARD
PASS-THROUGH CERTIFICATES
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The undersigned , a duly authorized representative of Greenwood
Trust Company ("Greenwood") , as Servicer pursuant to the Pooling
and Servicing Agreement dated as of Nov. 1 , 1991 (the
"Pooling and Servicing Agreement" ) by and among Greenwood, Discover
Receivables Financing Group Inc. and Wilmington Trust Company , does
hereby certify as follows:
1. Greenwood is Servicer under the Pooling and
Servicing Agreement.
2. The undersigned is a Servicing Officer.
3. The aggregate amount of Collections processed
during the related Due Period was equal to .. $ 94,860,203.02
4. The aggregate amount of Class A Principal
Collections processed by the Servicer during
the related Due Period is equal to .......... $ 66,753,896.96
5. The aggregate amount of the Class A Finance
Charge Collections processed by the Servicer
during the related Due Period is equal to ... $ 2,543,738.81
6. The sum of all amounts payable to the Class A
Certificateholders on the current Distribution
Date is equal to ............................ $ 34,347,222.23
7. The aggregate amount of Class B Principal
Collections processed by the Servicer during
the related Due Period is equal to .......... $ 6,678,859.23
8. The aggregate amount of the Class B Finance
Charge Collections processed by the Servicer
during the related Due Period is equal to .. $ 610,757.21
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9. The amount of drawings under the Class B
Credit Enhancement required to be made on the
succeeding Drawing Date pursuant to
(a) Section 4.03(c)(i)(G) is equal to...... $ 0.00
(b) Section 4.03(c)(i)(H) is equal to...... $ 0.00
(c) Section 4.05 is equal to............... $ 0.00
10. The sum of all amounts payable to the Class B
Certificateholders on the current Distribution
Date is equal to ............................ $ 261,666.67
11. Attached hereto is a true copy of the statement required to be delivered
by the Servicer on the date of this Certificate to the Trustee pursuant to
section 5.02.
IN WHITNESS WHEREOF , the undersigned has duly executed and and delivered
this certificate this day of January 21, 1997
GREENWOOD TRUST COMPANY, as Servicer
By: ______________________________
Title: Vice President, Director of
Accounting and Treasurer
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Greenwood Trust Company
Cash Collateral Account
Monthly Portfolio Status Report
Discover Card Trust 1991 E
Due Period Ending: 12/31/96
PORTFOLIO STATUS LOSSES & DELINQUENCIES
# of Accounts Dollars
Ending Total Outstanding 681,385 567,501,575.15
Total Principal Outstanding n/a 559,416,001.32
Total Finance Charge Outstanding n/a 8,085,573.83
Aggregate Investor Interest n/a 173,333,333.28
Delinquencies (90 days or greate 4,206 12,427,479.13
% of Ending Total Outstanding n/a 2.189858%
Investor Net Charge Offs n/a 969,623.66
Annualized % of Investor Interes n/a 5.630073%
Monthly Principal Payment Rate n/a 42.365052%
PAYMENTS & YIELD
Principal Payments
(Allocable to Investor Interest) 73,432,756.19
Finance Charges, Annual Fees & Late Fees
(Allocable to Investor Interest) 3,154,496.02
Annualized Gross Yield to Investor 18.316429%