“Managing business expenditures can be a daunting and time consuming task for any business owner, especially for those who provide additional charge or credit cards to employees to make business purchases on their accounts,” said Susan Sobbott, senior vice president and general manager of lending and network development, OPEN: The Small Business Network from American Express. “EMR is a convenient online tool that can help our business customers keep track of charges on all of the credit or charge cards used by them or their employees for business spending.”

The Internet is an increasingly important part of small business life. A 2003 OPEN Network survey shows that 73% of small business owners turn to the Internet to help manage their businesses.(1) EMR enables American Express Business Cardmembers to create customized spending reports from the spending data delivered online to their Small Business Dashboard at open.americanexpress.com. For example, business owners who provide supplemental cards to their sales force for travel and entertainment expenses can use EMR to track each salesperson's monthly expenditures by date, amount, expense category and transaction location.

In addition, with the ability to download EMR data into QuickBooks® and other financial software, EMR users can also generate detailed reports to help simplify tax preparation. EMR archives expense records dating back as far as two years.

A more powerful and user-friendly expense management tool than the paper quarterly reports it replaces, EMR enables American Express Business Cardmembers to:

• View spending data online five business days after the end of each calendar month
   
• Organize data into detailed spend categories, including Travel & Lodging; Restaurants & Entertainment; Business Services; Business Supplies & Equipment;
   
• Wholesale, Inventory & Raw Materials; Retail & Mail Order and Communications & Utilities
   
• Sort charges for all American Express Business Cards, including by date, Card used, merchant, category or amount
   
• Organize spending by month, quarter or year-to-date, and access spending information for up to two previous years
   
• Choose to receive either a monthly or quarterly reminder email when charges are updated online

“Creating products and tools that help business owners better manage their companies is a priority for the OPEN Network, and EMR delivers on this commitment,” Sobbott added.

American Express Business Cardmembers who do not have Internet access can choose to continue receiving free quarterly reports via mail.

About OPEN: The Small Business Network from American Express
OPEN: The Small Business Network is a division of American Express that offers small business owners a wide range of tools, services and savings designed to meet their evolving needs, including charge and credit cards, convenient access to working capital and credit information, enhanced online account management capabilities and savings on business services from an enhanced lineup of partners. To obtain more information about the OPEN Network, visit open.americanexpress.com or call 1-800-NOW-OPEN to apply for a card or loan.

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, Travelers Cheques, travel, financial planning, business services, insurance and international banking.

(1) Response to March 2003 survey of 781 U.S. small business owners. In the survey, conducted by OPEN: The Small Business Network from American Express, 73% said they use the Internet to help manage their business by conducting online activities, including account management and bill payment; making travel plans; purchasing goods, supplies or office equipment; selling products or services; and marketing/advertising.