“One from American Express is a new Card for consumers who are focused not only on spending for today but also building savings for their future,” said Peggy Maher, senior vice president and general manager, Consumer Charge Card, American Express. “Though consumers often want to – and need to – save, the U.S. savings rate recently hit zero percent. With One from American Express, Cardmembers can automatically save for their future even as they spend on day-to-day expenses. If you think about all the expenses a typical family has today, it's easy to see how quickly a little savings can add up just by using this Card.”

In addition to receiving a 1% contribution with every purchase into a built-in savings account, Cardmembers can contribute extra funds to their account directly from their checking, savings or brokerage accounts anytime they want. Plus, the savings account will grow each day because the savings account earns a high annual percentage yield (APY), currently 3.15%. The savings account is customer friendly with no cap on how much a Cardmember can earn, no monthly fees or minimum balance requirement. The savings account is opened in the Cardmember's name at American Express Bank, FSB, and is accessed online.

Another savings benefit offered on One from American Express is the Interest Protection(SM) feature that, unlike many other credit cards, guarantees Cardmembers won't pay interest on new purchases even when they carry a balance. This feature is designed for consumers who seek the discipline and control of paying charges in full but realize that there will be some charges that they will need to occasionally pay over time.

“One from American Express is the perfect Card for people who may need to revolve larger expenses, like a vacation or home improvement project, but want to pay off last week's groceries without incurring finance charges,” Maher says. “Through the benefits and features of this Card we are offering a lot all in one, making it a smart choice for consumers.”

One from American Express also offers a wide variety of other valuable benefits and services including:

• Flexible Features – with One from American Express, Cardmembers have the flexibility of no pre-set spending limit(3) and can carry a balance on the Card whenever needed.
   
• Online Management Tools – Cardmembers can use the Spend Tracking Alert to designate a monthly spending amount, and set up email or text-message reminders to alert them when they have reached that amount. Additionally, Cardmembers can view Card and bank account information, see which new purchases are protected from interest charges, current APY, recent contributions, bank balance, track recent account activity, view statement, link accounts and transfer or add funds.
   
• Key American Express® Card benefits – One from American Express offers Buyer's Assurance(4), which extends the original manufacturer's warranty on covered items for up to one additional year; Purchase Protection(5), which provides up to $1,000 coverage if the item is stolen, accidentally damaged or vandalized within 90 days of purchase; Return Protection(6), which guarantees that if a merchant won't take back a covered item purchased with the Card, American Express will refund the full purchase price, up to $300 per item; Car Rental Loss and Damage Insurance(7); 24-hour Customer Service; Travel Accident Insurance(8); Global Assist® Hotline(9), which provides 24-hour financial, medical and lodging assistance to Cardmembers in need who are more than 100 miles away from home; and Emergency Card Replacement.
   
• Bonus contribution – All new Cardmembers will also receive a $25 bonus contribution to their savings account, upon first purchase(10).

One from American Express is available for a $35 annual fee, waived for the first year, and a competitive prime plus 5.99% APR for purchases that are revolved(11).

For information about One from American Express, visit www.amexonecard.com.

About American Express
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, international banking.

(1)Cash and cash equivalent transactions (including American Express® Travelers Cheques and Gift Cheques), finance charges, fees, returned goods and services and account adjustments are not eligible.

(2)Variable rate effective 8/25/05. Fees may affect earnings on the Savings Account.

(3)Purchases are approved based on a variety of factors including account history, credit record and personal resources.

(4)Under written by AMEX Assurance Company, Administrative Office, and Green Bay, WI. Coverage is subject to the terms, conditions and exclusions of policy AX0953. See Description of Coverage for full details.

(5)Under written by AMEX Assurance Company, Administrative Office, Green Bay, WI. Coverage is subject to the terms, conditions and exclusions of policy AX0951. See Description of Coverage for full details.

(6)Coverage is limited to $1,000 annually per Card Account and is subject to additional terms, conditions and exclusions.

(7)Underwritten by AMEX Assurance Company, Administrative Office, Green Bay, WI. Coverage is subject to the terms, conditions and exclusions of policy AX0925. See Description of Coverage for full details.

(8)Underwritten by AMEX Assurance Company, Administrative Office, Green Bay, WI. Coverage is subject to the terms, conditions and exclusions of Policy AX0948. See Description of Coverage for full details.

(9)Whenever you travel more than 100 miles from home, you have security and peace of mind 24/7 with medical, legal, financial or other emergency assistance, including medical and legal referrals, visa/passport help, cash access, lost luggage and more.

(10)The $25 contribution will be deposited into the high-yield savings account approximately 8-12 weeks after the first purchase transaction.

(11)Finance charges begin to accrue for each Purchase on the first day of the second billing period after the billing period in which the Purchase is posted to your Account. The Daily Period Rate (DPR) for Purchases is based on an APR, which may vary. The APR for Purchases is the Prime Rate plus 5.99%. A DPR is 1/365th of the APR. See Cardmember Agreement for full terms and conditions.

Contacts:
Desiree Fish
212.640.4761
Desiree.C.Fish@aexp.com

Stacey Orange
954.503.9519
Stacey.L.Orange@aexp.com