AMERICAN EXPRESS OFFERS NEW SAVINGS ON BUSINESS EXPENSES TO ITS NATIONWIDE MERCHANT NETWORK

Business Savings Program Offers Special Discounts on a Variety of Business Expenses; Smaller Merchants Can Reap Savings Usually Available to Large Companies

NEW YORK, May 27, 2004 -- American Express Company today announced a new cost saving opportunity for the millions of businesses in the U.S. that accept the American Express® Card. American Express merchants can now take advantage of ongoing savings on a wide variety of business expenses from office supplies, shipping and computer equipment to temporary staffing, technology and cellular phone service…and more.

Business Savings from American Express is offered at no cost to any and all merchants in the American Express network across the U.S., regardless of size or location. There is no enrollment process; merchants can access the many expense savings offerings through www.americanexpress.com/bizsavings or by calling the toll-free numbers provided by the partners. Business Savings partners include: Enterprise Rent-A-Car; IBM; McAfee; Nextel; Office Depot and Welcome Wagon among others. The program will continue to expand and offer value-added services from additional partners in the coming months.

"Business Savings is another way that American Express delivers unparalleled value to our merchant partners," said Bill Glenn, president, Establishment Services, American Express. "In today’s marketplace, businesses of all sizes are looking for every opportunity to increase revenue and control costs. Acceptance of the American Express Card is one way for businesses to do both."

"Office Depot is delighted to join with American Express in offering substantial savings to small- and medium-sized businesses nationwide," said Kathleen Kennedy, Vice President of Customer Development for Office Depot. "Many of our business customers welcome the American Express Card and this is a great way for Office Depot to bring these business owners meaningful savings on all of their office products purchases. We created a program in which American Express merchants get instant savings of 3 percent on purchases made in Office Depot stores and through our call centers, plus, up to 10 percent back with quarterly Advantage Rewards for qualifying purchases made in store, over the phone or online."

The focus of the Business Savings program is to provide smaller American Express merchants with the opportunity to realize cost savings usually available to the largest businesses through volume discounts. The Business Savings program adds cost savings to the many ways in which American Express supports its merchants.

Establishment Services is the merchant network of American Express and maintains and acquires millions of merchants around the globe and across industries who welcome the American Express Card. American Express Company is a diversified worldwide travel, network, and financial services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.


Business Savings from American Express

Partner Offer Highlights
Office Depot
  • Save 3% instantly on your in-store and phone purchases.
  • Get up to 10% back with Office Depot Advantage Rewards - Spend $200 or more in our stores, over the phone, or online on qualified purchases during any quarterly reward period and receive an Advantage Reward.
IBM
  • Save up to 15% on select IBM PCs.
Enterprise Rent-A-Car
  • Get up to 25% off on your next rental at over 5000 locations in North America.
Nextel
  • Get 5% off your Nextel® monthly service plan when you sign up for a 12-monthcalling plan.
  • Each Nextel® calling plan offers you digital cellular and coast-to-coast Direct ConnectSM walkie-talkie capability on a guaranteed all-digital, wireless network in the country.
Welcome Wagon
  • Reach new homeowners in your area when they move in with a choice of marketing programs.
  • Save 41% to be listed in the Address Book being given as a house warming gift and/or save 17% on individual postcard mailings to the new homeowner.
McAfee
  • Up to 30% off on McAfee VirusScan® Online.
  • Up to 33% off McAfee Personal Firewall Plus.
  • Up to 25% on McAfee SpamKiller™.
American Express Financial Advisers
  • Receive a free consultation w/ an American Express Financial Advisor & a $75 bonus gift cheque.
OSBN - Equipment Leasing
American Express Tax and Business Services
Administaff



Contacts:
Christine Elliott
212.640.0622
Christine.S.Elliott@aexp.com