“We are delighted to receive this recognition from Working Mother for our advanced efforts to recruit, retain and develop talented employees from all backgrounds,” said Ursula Fairbairn, executive vice president of Human Resources and Quality at American Express. “Having a talented, diverse workforce is one of our strongest competitive weapons. Quite simply, the best people produce the best results, which in turn enables us to win in the marketplace.”

For this survey, Working Mother evaluated companies' formal compensation policies that reward managers for helping women of color advance; inclusion of women of color in succession plans; employee surveys on diversity issues; and, supplier diversity initiatives and lobbying efforts that focus on women of color, among others.

“Similar to our signature ‘100 Best Companies' list, this new research will set the benchmark for other companies and jumpstart progress for women of color around the country,” said Working Mother Editor-in-Chief Jill Kirshenbaum. “We salute American Express for their efforts.”

American Express provides programs and policies for advancing women and has created a culture where diversity is valued. For example:

• Since 1993, American Express has tracked overall employee satisfaction on a number of diversity-related categories, which helps create an understanding of the company culture regarding diversity.
   
• The availability of manager training on diversity issues teaches leaders to: understand the impact of diversity in the workforce and the marketplace; recognize and examine biases, stereotypes and assumptions about others; and understand how to apply appropriate behaviors in the workplace.
   
• A senior-led diversity council supports and integrates a companywide diversity strategy.

Working Mother is the latest publication to acknowledge the company's efforts to value diversity and provide a quality and supportive work environment. Through the first half of 2003, American Express has been recognized on 12 workplace quality lists in six countries. Click here to see a full list of publications.

Working Mother reaches more than three million readers monthly. A complete report of its “Best Companies for Women of Color” can be found in the magazine's June issue or by visiting www.workingmother.com.

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.