"Building and sustaining a highly committed, talented and diverse workforce is a key priority for our company," said Ursula F. Fairbairn, executive vice president, Human Resources and Quality at American Express. "We believe our diversity makes us stronger and positions us to be more competitive in the marketplace," added Fairbairn.

To determine this year’s list, Working Mother analyzed formal compensation policies that reward managers for helping women of color advance; inclusion of women of color in succession plans; and employee surveys that include diversity issues. Other hallmarks included targeted diversity training for employees and managers, dependent care reimbursement, mentoring and leadership training for women of color.

American Express’ diversity efforts are led by the company-wide Diversity Council, which is made up of global senior leaders who set overall diversity vision and policy and manage best practices. In addition, six regional councils in Asia, Canada, Europe, Japan, Latin America and the United States lead local diversity strategies, primarily in the areas of workplace environment and employee development, as well as hiring and selection. Together these Diversity Councils and other company initiatives help drive efforts to build a pipeline of future management talent at many levels in the organization. As a result of these efforts:

• In 2003, American Express’ overall hiring of women of color in the United States more than doubled from the prior year.

• Campus recruiting continues to be an excellent pipeline for women and minorities at American Express. In 2003, female hires worldwide made up 53 percent and minority hires in the United States made up 47 percent of the candidates selected through the campus recruiting program. Over the past five years, female hires have made up 56 percent of global full-time hires while minority hires in the United States represented 43 percent over this same time period.

Working Mother is the latest publication to acknowledge the company’s efforts to value diversity and provide a quality and supportive work environment. In 2003, American Express was included in 25 listings of best places to work worldwide, up from 17 lists in the prior year.

Working Mother reaches nearly 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.