American Express to Distribute Gift Cards Through Bank of America

American Express(R) Gift Cards Available at Participating Bank of
America Retail Banking Centers In Time For Holiday Gifting Season
NEW YORK--(Business Wire)--American Express today announced an agreement with Bank of America
in which Bank of America will offer American Express(R) Gift Cards at
participating Bank of America retail banking centers, significantly
increasing customer reach for American Express Gift Cards.

Bank of America customers looking for a premium gift for any
occasion throughout the year will soon be able to walk into any
participating Bank of America retail branch and purchase $25, $50 and
$100 American Express Gift Cards which will be available by December
10, 2007, in time for the year-end holiday gift-giving season.

"Bank of America is a powerhouse addition to our growing list of
banking and retail partners," said Alpesh Chokshi, President, American
Express Travelers Cheques and Prepaid Services. "We want to make our
Gift Cards available where consumers expect to find them for sale, and
many of our customers prefer to buy gift cards at their local bank
branch. We are delighted to begin this win-win partnership with Bank
of America. Its industry-leading retail presence and customer base
will help us meet surging consumer demand for American Express Gift
Cards, which in turn will be a great addition to Bank of America's
full line of products and services."

With the addition of Bank of America bank branches, American
Express Gift Cards will be available at more than 65,000 locations,
including supermarket, drug store and office supply retail chains,
banks, shopping malls, and American Express Travel offices, as well as
online at www.americanexpress.com/gift.

American Express is the nation's largest issuer of open gift
cards, and sold more Gift Cards last year than in all prior years
combined since the introduction of its Gift Card products in 2002. The
cards are a premium year-round gift choice for special occasions and
recipients, as well as for use in sales incentives, employee rewards
and consumer promotion. In addition to the American Express Gift Card,
American Express offers consumers themed Gift Cards, including Gift
Cards Especially For(SM) Kids, Teens, Birthdays, Dining, Movie Lovers,
and the Bride and Groom. For corporate buyers and small business,
American Express offers the American Express Gift Card, Gift Card
Especially for Dining, and Thank You Gift Card. Companies interested
in buying American Express Gift Cards in bulk for reward, incentive
and promotional programs can visit the American Express "Gift Cards
for Business" Web site, http://www.americanexpress.com/corpalliances.

The American Express Gift Card can be used at millions of places
in the United States that accept American Express, letting the
recipient choose from millions of things and experiences. The Gift
Card is available in denominations ranging from $25 to $500 and can be
refunded if lost or stolen. American Express Gift Cards come with
special offers at best-of-brand retailers, restaurants and merchants.
For more information on American Express Gift Cards, visit
www.americanexpress.com/gift.*

About American Express

American Express is a leader in prepaid products. In addition to
the 116-year old American Express Travelers Cheque -- the preeminent
brand welcomed worldwide -- the Company issues other prepaid products
including Cheques for Two, Gift Cards, Gift Cheques, and a range of
corporate incentive prepaid products through American Express
Incentive Services, a joint venture with Maritz Inc.

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,
travel, financial planning, business services, insurance and
international banking.

* Terms, conditions and purchase/replacement fees apply to Gift
Cards. Subject to applicable law, a monthly service fee of $2.00 is
waived for the initial 12 months after purchase. A $5.95 replacement
fee may apply if a Gift Card is lost or stolen. Not for use at car
rental, cruise lines, casinos or ATMs. Details of the special offers
program are available at www.americanexpress.com/specialoffers. Offers
are subject to change without notice. Visit
www.americanexpress.com/gift or call 877-AXP-GIFT for additional gift
card terms and conditions.

American Express
Robert A. Sherman, 212-640-6221
or
M Booth & Associates
Dana Kopp Hudon, 212-481-7000

Copyright Business Wire 2007