The Mauritius Commercial Bank Ltd. has begun the first phase of managing all aspects of American Express merchant relationships on the island, including the acquiring of new merchants and servicing existing merchants. As a result of this agreement, Mauritian merchants will benefit from:

• Full local market servicing and support — available by calling a local phone number, with French, Mauritian Creole or English speaking customer service representatives;
• 24 hour card authorizations locally from The Mauritius Commercial Bank Ltd.;
• One consolidated statement for merchants itemising all of their credit card sales — making for easier reconciliation of transactions;
• Quick merchant set-ups;
• New marketing opportunities — providing special offers at merchants to help drive local and visiting American Express Cardmembers to their shops.

These services will be rolled-out to Mauritian merchants immediately and are expected to be completed by February 2004.
American Express will continue to have responsibility for all elements of card operations, including cardmember billing and payment systems, accounting, customer service, credit and fraud control.

“Our agreement with The Mauritius Commercial Bank Ltd. marks a very significant step in developing our Merchant network in select markets around the world,” said Pascal Guignard, vice president, American Express Global Network Services — the unit that manages third-party business agreements. “We are delighted to strengthen our relationship with the Bank as both companies share similar objectives of delivering superior customer service and innovation. Through this agreement we have a strong local partner who will be able to meet the needs of a growing merchant base.”

“The agreement with American Express is a substantial development in the Bank's strategy. Our quality of service, combined with many years of experience and knowledge of the local market, are a guarantee that Mauritian businesses will benefit from integrated American Express Card acceptance,” said Philippe A. Forget, Assistant General Manager of The Mauritius Commercial Bank Ltd.

American Express and The Mauritius Commercial Bank Ltd. have been working together since the 1970s when the Bank became an official American Express paying agent, reimbursing Mauritian merchants for American Express transactions. The Mauritius Commercial Bank Ltd. has also been associated with American Express for the sale of their prestigious Travellers Cheques with the close collaboration of Mauritius Travel and Tourist Bureau (MTTB), the travel representative of American Express in Mauritius.

About The Mauritius Commercial Bank Limited
Established in 1838, The Mauritius Commercial Bank Ltd. is the oldest and most important bank of the Republic of Mauritius. It plays a key role in the country's economy by drawing on its thorough knowledge of local conditions and by extending its unflinching support to trade, agriculture, the textile industry, tourism and other sectors as well as individual customers. The Mauritius Commercial Bank's strategic vision lies in establishing the MCB Group as the benchmark reference for the provision of financial services in the region and even further, in line with the increased needs of its customers operating in the global economy.
For more information about The Mauritius Commercial Bank Ltd., please visit www.mcb.mu.

About American Express
American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travellers Cheques, travel, financial planning, business services, insurance, on-line brokerage and international banking.
Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third-party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the American Express brand, the company aims to gain an even broader reach for its network worldwide. American Express has established nearly 80 card-issuing partnership arrangements in close to 90 countries.

For more information about American Express Global Network Services business, click here.