New clients business won by American Express include CUNA Mutual Group (US), EADS (Europe), KPMG (Brazil), Real Foundations (US), Ridley Corporation (Australia), Sara Lee DE (Europe) and Tuesday Morning (US). Additionally, American Express has won more than 50 new clients in head-to-head competition with online travel agencies.

“As we looked for a partner to work with in helping us rationalize and manage our travel spend, the best offer regards quality, cost savings and customer service we needed, was made by American Express,” said Hans Mundt, Senior Vice President Corporate Sourcing (CPO) of EADS. “With a global business that requires travel around the world, we knew that working with a company that could provide both hands-on service and the ability to track, manage and reconcile our spend was of the utmost importance. American Express' global reach, technological innovations, and world-class customer service is what sold me.”

The new clients will be able to take advantage of American Express' leading technology; online offerings, consulting and management services to maximize savings on travel spend. As proven in a recent Accenture study*, American Express Business Travel clients report achieving 17 percent greater overall savings for their travel and entertainment (T&E) investments as compared to clients of other travel management companies.

Beyond providing services to major international companies like EADS, American Express has expanded its offering to the small and mid-size marketplace. A recently announced program for these markets features a Webfare guarantee, double Membership RewardsÒ points and automatic ticket refunds.

“We are thrilled to announce this amount of new business,” said Charles Petruccelli, President of American Express Global Travel Services. “We are constantly working to improve our offerings, provide new and desired services, and compete for every account available. One billion USD in new client wins is a great accomplishment, and I am proud of the value that we deliver for our clients.”

About American Express Corporate Services
American Express Travel Related Services, Inc. operates one of the world's largest travel agency networks, recording $16 billion in worldwide travel sales in 2003. Through its Corporate Services group, the company counts nearly 70 percent of the Fortune 500, along with tens of thousands of mid-sized companies, as customers of its Business Travel, Corporate Card, and Corporate Purchasing Solutions services. More information on expense management tools from Corporate Services can be found at http://www.americanexpress.com/corporateservices.

The American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking.

*Accenture, Global Travel Management Study, Is There a Difference Between Travel Management Companies? commissioned by American Express. Copyright ©2004 Accenture. All rights reserved

Contacts:
Tom Wilson
212.640.0539
Thomas.S.Wilson@aexp.com