Juan de Lapuerta Appointed as Region's New General Manager
Based in Mexico City and reporting to Andrew Winterton, Senior Vice President, Business Travel, de Lapuerta will lead client general management and sales, as well as the Company's partner network of licensed travel service providers. Key elements of de Lapuerta's mandate include delivering maximized savings, service and control to clients through the Company's differentiated approach to business travel management.

"Previously, as LAC Vice President for Global Supplier Relations and the Partner Network, Juan advocated for our clients with key air travel suppliers, ensuring mutually beneficial relationships on both sides of the supply and demand chain. Earlier in his career, he directed business development efforts for American Express LAC's travel and commercial card units, again demonstrating negotiation and relationship management expertise. Juan's value-creation mindset and unique mix of supplier and client management experience is perfectly suited to the LAC market," said Winterton.

De Lapuerta holds a degree in Industrial Engineering and an MBA fro the ICADE in Madrid, Spain.

Airline Fares Increase with Demand
In other news, American Express Business Travel published its 2006 LAC airfares index. Comparing 2006 with 2005, the average domestic/short-haul economy fare for Latin American and the Caribbean countries increased 2.7 percent, while the international/long haul business fare grew 4.4 percent. Price increases were driven by strong business travel demand associated with economic growth and commercial activity across all the LAC market.

Notably, Argentina's average short-haul fare spiked 18.2 percent to $133.17, Brazil's increased 11.6 percent to $175.75 and Chile's rose 10.4 percent to $272.75. However, in Mexico, new domestic carrier entrants increased airline fare competition and helped to push average short-haul fares down nearly 5 percent.

Comparably, Argentina's, Brazil's, Chile's and Mexico's average long-haul fares increased 11.7 percent to $803.12, 4.4 percent to $475.81, 1.2 percent to $635.95 and 2.4 percent to $379.47 respectively.

Methodology
The American Express Business Travel Latin American and the Caribbean airfares index tracks all city pairs flown by American Express Business Travel clients across Argentina, Brazil, Chile and Mexico. The average short-haul fare is based on one-way Economy class flights booked in Argentina, Brazil, Chile, and Mexico for travel within the region, while the average International long-haul fare is based on one-way Business class travel from the region to other parts of the world. Weighted averages are used to normalize for volume differentials by country.

About American Express Business Travel
American Express Business Travel (www.americanexpress.com/businesstravel), a division of the American Express Company, is dedicated to helping its clients realize the greatest possible value from their investment in travel through increased cost savings, outstanding customer service and greater spend control.  For small businesses, medium-sized enterprises and multinational corporations, American Express Business Travel provides a combination of industry-leading booking technology, travel management consulting expertise, strategic sourcing and supplier negotiation support and customer service available online and offline, around the world.

American Express operates one of the world's largest travel agency networks with over 2,200 travel service locations in over 140 countries and territories worldwide.  The Company processed $21.8 billion in global travel sales in 2006.

American Express Company (www.americanexpress.com) 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, business services and international banking.