“As Gift Cards continue to grow in popularity, American Express is committed to working with partners like Duane Reade to make Gift Cards available in a convenient drugstore setting,” said Valerie Soranno Keating, president of American Express Global Travelers Cheques and Prepaid Services. “Now, when you're buying a card and wrapping paper, you can also buy the gift card for all recipients and occasions. The American Express Gift Card lets Duane Reade customers give a gift with millions of possibilities. Recipients can use the card to enjoy everything from shopping, dining out, going to the theater, a spa or museum."

“At Duane Reade we are always finding new and innovative ways to provide customers with the widest selection of products and services,” says Gary Charboneau, Senior Vice President of Marketing and Merchandising. “The American Express Gift Card offers another service to our valued customers and emphasizes our commitment to offering unmatched convenience for our shoppers.”

The appeal of Gift Cards continues to surge. Gift Card sales in the U.S. are expected to reach $48 billion in 2005, predicts research firm TowerGroup. American Express' own research shows that offering universal gift cards drives customers into stores – 29% of consumers surveyed said they would make a separate trip into a store to purchase an American Express Gift Card.

American Express Gift Cards can be used to buy virtually anything, through usage at retail stores, restaurants, spas and salons, health clubs, entertainment events and parks. They can also be used to make purchases online and over the phone. The American Express Gift Card is the perfect gift for holidays, birthdays, graduations, weddings, or just to say "thank you". In addition, unlike some store gift cards and certificates, the funds on the American Express Gift Card will never expire.*

About Duane Reade Inc.
Founded in 1960, Duane Reade is the largest drug store chain in the metropolitan New York City area, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, photo supplies and photofinishing. As of April 1, 2005, the Company operated 249 stores. More information is available at http://www.duanereade.com.

About American Express
American Express is a leader in prepaid products. In addition to the 114-year old American Express Travelers Cheque - the preeminent brand welcomed worldwide - the Company issues other prepaid products including the Travelers Cheque Card, Cheques for Two, Gift Cards, Gift Cheques, the Be My Guest dining card, and a range of corporate incentive prepaid products through American Express Incentive Services.

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.

*Terms and Conditions Apply to the American Express Gift Card.