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<SEC-DOCUMENT>0000004962-08-000015.txt : 20080626
<SEC-HEADER>0000004962-08-000015.hdr.sgml : 20080626
<ACCEPTANCE-DATETIME>20080625182907
ACCESSION NUMBER:		0000004962-08-000015
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080625
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20080626
DATE AS OF CHANGE:		20080625

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN EXPRESS CO
		CENTRAL INDEX KEY:			0000004962
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				134922250
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07657
		FILM NUMBER:		08917552

	BUSINESS ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285
		BUSINESS PHONE:		2126402000

	MAIL ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>june258k.txt
<DESCRIPTION>8-K RE MASTERCARD SETTLEMENT
<TEXT>
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 8-K

                                CURRENT REPORT

                    Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934


      Date of Report (Date of earliest event reported): June 25, 2008


                           AMERICAN EXPRESS COMPANY
            (Exact name of registrant as specified in its charter)



          New York                      1-7657                 13-4922250
- -----------------------------  ------------------------    -------------------
(State or other jurisdiction   (Commission File Number)     (IRS Employer
 of incorporation                                            Identification No.)
 or organization)


       200 Vesey Street, World Financial Center
                  New York, New York                             10285
       ----------------------------------------               ----------
       (Address of principal executive offices)               (Zip Code)


      Registrant's telephone number, including area code: (212) 640-2000

                                     None
              ---------------------------------------------------
         (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):

  [     ] Written communications pursuant to Rule 425 under the Securities Act
          (17 CFR 230.425)
  [     ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
          (17 CFR 240.14a-12)

  [     ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
          Exchange Act (17 CFR 240.14d-2(b))

  [     ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4(c))


<PAGE>

Item 7.01 Regulation FD Disclosure.

On June 25, 2008, American Express Company (the "Company") issued a press
release announcing that it has reached an agreement with MasterCard Inc.
("MasterCard") to drop MasterCard as a defendant in a lawsuit alleging that it
had illegally blocked the Company from the bank-issued card business in the
United States. The press release also contained a statement from Kenneth I.
Chenault, Chairman and Chief Executive Officer of the Company, in which he
commented on the agreement with MasterCard, as well as weakening business
conditions and deteriorating credit indicators in the United States. A copy of
such press release is furnished as Exhibit 99.1 to this Current Report on Form
8-K and is incorporated herein by reference.


Exhibit

99.1     Press Release, dated June 25, 2008.







<PAGE>


                                   SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                       AMERICAN EXPRESS COMPANY
                                       (REGISTRANT)

                                       By /s/ Stephen P. Norman
                                          --------------------------
                                          Name:  Stephen P. Norman
                                          Title: Secretary

Date:   June 25, 2008

<PAGE>


                        EXHIBIT INDEX

Item No.     Description
- --------     --------------------------------------

99.1         Press Release, dated June 25, 2008.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1 PRESS RELEAS
<SEQUENCE>2
<FILENAME>exhibit99_1.txt
<DESCRIPTION>MASTERCARD SETTLEMENT PRESS RELEASE
<TEXT>
                                                                EXHIBIT 99.1

NEWS RELEASE     NEWS RELEASE     NEWS RELEASE     NEWS RELEASE     NEWS RELEASE

[LOGO OF AMERICAN EXPRESS COMPANY]

CONTACTS:

INVESTORS/ANALYSTS:         MEDIA:
Ron Stovall                 Joanna Lambert                Michael O'Neill
212-640-5574                212-640-9668                  212-640-5951
ronald.stovall@aexp.com     joanna.g.lambert@aexp.com     mike.o'neill@aexp.com
- --------------------------------------------------------------------------------

FOR IMMEDIATE RELEASE

 AMERICAN EXPRESS SETTLES ANTITRUST CLAIMS AGAINST MASTERCARD FOR $1.8 BILLION
  AGREEMENT WOULD BRING TOTAL PAYMENTS FROM MASTERCARD AND VISA TO $4 BILLION
             SETTLEMENT TO HELP LESSEN IMPACT OF WEAKENING ECONOMY

NEW YORK, June 25, 2008 -- American Express announced today that it has
reached an agreement with MasterCard Inc. to drop a lawsuit alleging that
MasterCard had illegally blocked American Express from the bank-issued card
business in the United States.

Under the terms of the agreement, MasterCard will pay American Express up to
$1.8 billion. This follows an earlier agreement with Visa to settle similar
claims for up to $2.25 billion. Subject to certain performance criteria,
American Express would receive more than $4 billion for agreeing to drop its
claims against the two credit card networks. The combined antitrust settlement
is the largest in U.S. history.

The MasterCard payments to American Express will be made in quarterly
installments over three years. Together with the previously announced payments
from Visa, this represents $880 million annually for American Express over the
next three years, starting in the third quarter of 2008 and running through
mid-year 2011. American Express would receive two subsequent quarterly
payments of up to $70 million from Visa in the latter half of 2011.

"The $4 billion settlement represents a very satisfactory resolution of our
lawsuits against the country's two major card associations," said Kenneth I.
Chenault, chairman and chief executive officer.

Mr. Chenault also said, "Business conditions continue to weaken in the U.S.
and so far this month we have seen credit indicators deteriorate beyond our
expectations. While it is too early to assess the impact of these indicators,
the antitrust settlement we've reached with MasterCard provides us with a
multi-year source of funds that should, among other things, help to lessen the
impact of this weakening economic cycle and, when conditions improve, give us
the ability to step up investments in the business."

American Express filed the suit in Federal court (November 2004) to seek
monetary damages for the lost business opportunity that resulted from the
illegal conspiracy to boycott American Express. Following American Express'
settlement with Visa (November 2007) and the dismissal of all the bank
defendants, MasterCard was the sole remaining defendant in the antitrust
lawsuit. The case will now be dismissed.

The payments from both MasterCard and Visa are subject to American Express
achieving certain quarterly performance criteria in its U.S. Network services
business. Given the strong growth momentum within that business, the Company
is highly optimistic about its ability to meet those performance requirements.
Proceeds from a possible settlement with MasterCard were not built into the
American Express 2008 financial plan.

American Express Company is a leading global payments and travel company
founded in 1850. For more information, visit www.americanexpress.com.

Editors' Note: Below is a brief summary of the settlements discussed above:

Visa Settlement: American Express reached a $2.25 billion settlement with Visa
in November 2007 and recognized an initial payment of $1.13 billion in the
fourth quarter of last year. The first installment of $70 million was
recognized in first quarter 2008. The remaining payments of up to $70 million
per quarter are scheduled to be received over the next 15 quarters, ending
fourth quarter 2011.

Mastercard Settlement: Under terms of the $1.8 billion settlement with
MasterCard, American Express would receive quarterly payments of up to $150
million over the next 12 quarters, starting in the third quarter of 2008 and
ending second quarter 2011.

                                      ###

This release includes forward-looking statements, which are subject to risks
and uncertainties. The words "believe," "expect," "anticipate," "optimistic,"
"intend," "plan," "will," "could," "would," "likely," and similar expressions
are intended to identify forward-looking statements. Readers are cautioned not
to place undue reliance on these forward-looking statements, which speak only
as of the date on which they are made. The Company undertakes no obligation to
update or revise any forward-looking statements. Factors that could cause
actual results to differ materially from these forward-looking statements
include, but are not limited to the Company's ability to grow and expand the
Global Network Services business in the United States and the success of such
Global Network Services business in meeting the performance requirements
called for by the settlement agreement described in this release. A further
description of our risks and uncertainties can be found in the Company's
Annual Report on Form 10-K for the year ended December 31, 2007, and our other
reports filed with the SEC.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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