Under the terms of the agreement, Banco do Brasil will be responsible for all elements involved in issuing the Ourocard Estilo Platinum American Express® and the Ourocard Platinum American Express® -- including credit analysis, customer service and marketing strategy. Banco do Brasil is also responsible for authorization, billing, credit and risk management and accounting. Banco do Brasil's American Express-branded product line includes branding from both Banco do Brasil and American Express.

The Ourocard Estilo Platinum American Express® and Ourocard Platinum American Express® products are targeted primarily at the high-income segment in Brazil, and both products offer benefits, such as a higher earn rate on Banco do Brasil's rewards program, Ponto pra Você, and special travel and entertainment benefits and privileges from American Express.

"By partnering with American Express, Banco do Brasil can provide more choice, benefits, flexibility and convenience to our customers, who can now choose among the top three international credit card networks that exist in the market," commented Paulo Rogério Caffarelli, Vice-President of Cards and New Business, Banco do Brasil.

"We are delighted to partner with Banco do Brasil, as their proven success and years of experience will give us a new opportunity to continue extending the American Express brand within the Brazilian market," said Carlos Pascual, American Express Regional President, Global Network Services, Latin America and the Caribbean.

Card Benefits

The Ourocard Estilo Platinum American Express® and Ourocard Platinum American Express® will have the most attractive earn rate within Banco do Brasil's rewards program, Ponto pra Você. For each dollar spent on the card, the customer will earn 1.6 points through the end of September 2009 and 1.2 points thereafter. These points can be exchanged for airline tickets on the TAM or Smiles frequent flyer programs.

New Cardmembers also will be able to use the credit card to pay utility bills, such as water, electricity and gas without incurring any additional fees. Cardmembers will have up to 40 days to pay these bills and will even earn points in the Bank's rewards program. These utility bills can be paid automatically on the due date and will be included in the Ourocard American Express statement. This offer is valid through the end of September.

In addition, with the Ourocard Estilo Platinum American Express® and Ourocard Platinum American Express®, Cardmembers can enjoy special privileges at restaurants, car rental agencies and over 400 premium hotels in Brazil and around the world.

Cardmembers also will be able to take advantage of American Express benefits, such as: travel accident insurance, emergency assistance with medical coverage, retail protection and a concierge service for restaurant reservations and assistance in purchasing gifts, among others.

The annual card fee will be waived for customers who have another card from Banco do Brasil with active credit.

About Banco do Brasil
With a base of 78.6M cards, including credit, debit and co-brand, Banco do Brasil reached R$18billion in billings in the first quarter of 2009. These results have helped Banco do Brasil increase its presence in the card market from 17.7% in the first quarter of 2008 to 18.7% in the first quarter of 2009; the results are based on the market figures provided by ABECS - Associação Brasilieira de Empresas de Cartões de Crédito e Serviços.

About American Express
Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 129 partnership arrangements in 128 markets around the world. In Latin America, American Express GNS has 29 alliances in 21 markets.

Founded in 1850, American Express Company is a worldwide diversified travel and financial services company and a leader in charge and credit cards, Travelers Cheques, financial services, and travel and corporate services.