<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99_1pressrel.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
                                                                   EXHIBIT 99.1

NEWS RELEASE    NEWS RELEASE    NEWS RELEASE    NEWS RELEASE    NEWS RELEASE


CONTACTS:        Media:   Joanna Lambert                 Michael O'Neill
                          212-640-9668                   212-640-5951
                          joanna.g.lambert@aexp.com      mike.o'neill@aexp.com

  Investors/Analysts:     Alex Hopwood                   Ron Stovall
                          212-640-5495                   212-640-5574
                          alex.w.hopwood@aexp.com        ronald.stovall@aexp.com

--------------------------------------------------------------------------------
<Table>
<Caption>
       AMERICAN EXPRESS REPORTS FIRST QUARTER EARNINGS OF $443 MILLION,
      OR $0.32 PER SHARE; REVENUES DECLINE ON LOWER CARDMEMBER SPENDING;
                  EXPENSES REDUCED BY REENGINEERING RESULTS

(Millions, except per share amounts)

                                                                             Quarters Ended    Percentage
                                                                                March 31,      Inc/(Dec)
                                                                            ----------------   ----------
                                                                             2009      2008
                                                                            ------    ------
   <S>                                                                      <C>       <C>         <C>

   Total Revenues Net of Interest Expense                                   $5,926    $7,240      (18)%

   Income From Continuing Operations                                        $  443    $1,044      (58)%
   Loss From Discontinued Operations                                        $   (6)   $  (53)     (89)%
   Net Income                                                               $  437    $  991      (56)%
   Income From Continuing Operations
        Attributable to Common Shareholders(Footnote 1)                     $  367    $1,038      (65)%

   Net Income Attributable to Common Shareholders(Footnote 1)               $  361    $  985      (63)%

   Earnings Per Common Share - Basic:
      Income From Continuing Operations Attributable to Common Shareholders $ 0.32    $ 0.90      (64)%
      Loss From Discontinued Operations                                     $(0.01)   $(0.05)     (80)%
      Net Income Attributable to Common Shareholders                        $ 0.31    $ 0.85      (64)%

   Earnings Per Common Share - Diluted:
      Income From Continuing Operations Attributable to Common Shareholders $ 0.32    $ 0.89      (64)%
      Loss From Discontinued Operations                                     $(0.01)   $(0.04)     (75)%
      Net Income Attributable to Common Shareholders                        $ 0.31    $ 0.85      (64)%

   Average Common Shares Outstanding

      Basic                                                                  1,156     1,153        -%
      Diluted                                                                1,156     1,163       (1)%

   Return on Average Equity                                                   16.3%     35.9%
   Return on Average Common Equity                                            16.7%     35.7%
---------------------------------------------------------------------------------------------------------
</Table>
   ---------
   (Footnote 1) Represents income from continuing operations or net income, as
       applicable, less (i) preferred shares dividends and related
       accretion of $72 million for the quarter ended March 31, 2009, and
       (ii) other adjustments of $4 million and $6 million for the quarters
       ended March 31, 2009 and 2008, respectively.


<PAGE>
New York - April 23, 2009 - AMERICAN EXPRESS COMPANY (NYSE: AXP) today
reported first-quarter income from continuing operations of $443 million, down
58 percent from $1.0 billion a year ago. Diluted earnings per share from
continuing operations were $0.32, down 64 percent from $0.89 a year ago.

Net income totaled $437 million for the quarter, down 56 percent from a year
ago. On a per-share basis, net income was $0.31, down 64 percent from $0.85 a
year ago.

Consolidated total revenues net of interest expense declined 18 percent to
$5.9 billion, down from $7.2 billion a year ago.

Consolidated provisions totaled $1.8 billion compared to $1.2 billion in the
year-ago period, primarily reflecting additions to the lending credit reserves
in view of increased write-offs and past due loans.

Consolidated expenses totaled $3.6 billion, down 22 percent from $4.6 billion
a year ago, reflecting in part the results of the company's reengineering
initiatives.

At the end of the quarter, the company's tier-one risk based capital ratio was
14.8 percent. Its tangible common equity(Footnote 2) to risk weighted assets
of 10.1 percent was relatively high compared to most bank holding companies.

The company's return on average equity (ROE) was 16.3 percent, down from 35.9
percent a year ago. Return on average common equity (ROCE), which excludes the
impact of preferred shares and other adjustments, was 16.7 percent, down from
35.7 percent a year ago.

"We made very good progress this quarter on each of our key priorities - to
stay liquid, to stay profitable, and to selectively invest for growth," said
Kenneth I. Chenault, chairman and chief executive officer.

"At a time when some parts of the card industry were incurring substantial
losses, we remained solidly profitable thanks, in part, to our flexibility in
adapting to a very difficult economic environment and the diversity of our
business model. Strong contributions from merchant services and bank card
processing on our network continued to provide us with a competitive
advantage.

"We generated earnings of $443 million, despite substantial additions to our
lending reserves and slower cardmember spending this quarter. Spending levels
reflected the severe recessionary environment, but remained fairly consistent
throughout the quarter.

--------------
(Footnote 2)
At March 31, 2009, tangible common equity ("TCE") was $9.4 billion,
representing common shareholders' equity (i.e., shareholders' equity less
preferred shares) of $12.4 billion less goodwill and other intangibles of $3.0
billion. TCE is, in management's view, a useful measure of the company's
capital.

                                     -2-
<PAGE>

"We authorized more than $63 billion in U.S. charge card spending, and, at the
end of the quarter, had $207 billion of open credit lines available to consumer
and small businesses in the U.S.

"During the quarter, we again sought to balance near term performance against
longer-term growth by investing in our recently expanded partnership with
Delta Airlines and in global business-to-business initiatives.

"We diversified our funding activities by raising $3.5 billion of new deposits
and ended the quarter with $25 billion of excess cash and marketable
securities on hand. Based on current market conditions and the success of this
program, we plan to continue funding our 2009 activities primarily through
deposits.

"While we did see some recent improvement in early delinquency rates, overall
credit indicators reflected rising unemployment levels and the broad-scale
weakness in the economy. Based on current indicators, we expect second quarter
U.S. lending write-off rates on a managed basis to rise between 200 and 250
basis points over the first quarter levels. We expect an additional increase
of 50 basis points or less in the third quarter, before leveling off during
the fourth quarter(Footnote 3). We continue to be very cautious about the
economic outlook and plan to initiate additional reengineering efforts in the
second quarter to help further reduce our operating costs. Our goal is to remain
in a position to generate profits in excess of our dividend and be able to take
competitive advantage of opportunities as the economy begins to rebound.

"Also, if permitted by our supervisors and if supported by the results of the
stress assessment, we intend to repay the government investment of preferred
shares and warrants."

During the first quarter, the translation effects of a comparatively stronger
U.S. dollar contributed to lower non-U.S. revenues, provisions and expenses.

The lower tax provision for the quarter reflected lower pretax income and the
impact of recurring permanent benefits.

DISCONTINUED OPERATIONS

Discontinued operations for the first quarter generated a loss of $6 million
compared with a loss of $53 million during the year-ago period.

--------------------------
(Footnote 3)
The estimate for the fourth quarter assumes the U.S. unemployment rate reaches
9.7 percent in December 2009. The "managed basis" presentation includes
on-balance sheet cardmember loans and off-balance sheet securitized cardmember
loans. The difference between the "owned basis" (GAAP) information and "managed
basis" information is attributable to the effects of securitization activities.
The Company is not presenting estimates of owned net write-off rates comparable
to the managed data above because the owned write-off rates are not determinable
at this time. The company does not believe such estimated net write-off rates
on an owned and managed basis would be materially different.

                                     -3-
<PAGE>
SEGMENT RESULTS

U.S. CARD SERVICES reported a first-quarter loss of $25 million, compared to a
net income of $523 million a year ago.

Total revenues net of interest expense for the first quarter decreased 17
percent to $3.1 billion, driven by reduced cardmember spending and lower
securitization income, net.

Provisions for losses totaled $1.4 billion, an increase of 57 percent or $502
million from a year ago. The increase reflected higher write-offs and past due
loans. On a managed basis(4), the net loan write-off rate was 8.5%, up from
6.7% in the fourth quarter and 4.3% a year ago. Owned net write-offs were 8.5%
in the quarter, up from 7.0% in the fourth quarter and 4.5% a year ago.

Total expenses decreased 15 percent. Marketing, promotion, rewards and
cardmember services expenses decreased 22 percent from the year-ago period,
reflecting lower volume-related rewards costs and reduced investments in
marketing and promotion. Salaries and employee benefits and other operating
expenses decreased 6 percent from year-ago levels, reflecting primarily the
benefits from the company's ongoing reengineering initiatives and a favorable
impact related to fair value hedge ineffectiveness.

INTERNATIONAL CARD SERVICES reported first-quarter net income of $39 million,
compared to $133 million a year ago.

Total revenues net of interest expense decreased 14 percent to $1.0 billion,
primarily driven by reduced cardmember spending.

Provisions for losses totaled $335 million, an increase of 46 percent or $106
million from a year ago. The increase reflected higher write-offs and past due
loans.

Total expenses decreased 20 percent. Marketing, promotion, rewards and
cardmember services expenses decreased 28 percent from year-ago levels,
reflecting reduced marketing investments and lower volume-related rewards
costs. Salaries and employee benefits and other operating expenses decreased
14 percent from year-ago levels, primarily due to the benefit from the
company's ongoing reengineering initiatives.

GLOBAL COMMERCIAL SERVICES reported a first-quarter net income of $86 million,
compared to $151 million a year ago.

Total revenues net of interest expense decreased 17 percent to $944 million,
reflecting reduced spending by corporate cardmembers and lower travel
commissions and fees.

-------------------------

(4) Please refer to the information set forth on Exhibit I for further
discussion of the owned and managed basis presentations.

                                     -4-
<PAGE>
Total expenses decreased 11 percent. Marketing, promotion, rewards and
cardmember services expenses decreased 8 percent from the year-ago period.
Salaries and employee benefits and other operating expenses decreased 11
percent from the year-ago period, reflecting in part the benefit from the
company's ongoing reengineering initiatives.

Both revenues and expenses reflected the impact of the acquisition of a
commercial card and corporate purchasing services operation in March 2008.

GLOBAL NETWORK & MERCHANT SERVICES reported first-quarter net income of $237
million, up 6 percent from $223 million a year ago.

First-quarter total revenues net of interest expense decreased 17 percent to
$836 million. The decrease reflected lower merchant-related revenues driven by
a decrease in global card billed business.

Total expenses decreased 32 percent, reflecting lower brand advertising and
reduced investment spending in merchant services. Salaries and employee
benefits and other operating expenses decreased 26 percent, due to reduced
legal costs and the benefit from the company's ongoing reengineering
initiatives.

CORPORATE AND OTHER reported a first-quarter net income of $106 million,
compared with net income of $14 million a year ago. The first quarter 2009
reflects the recognition of $220 million ($136 million after-tax) for the
previously announced MasterCard and Visa settlements compared to $70 million
($43 million after-tax) in the year-ago period related to Visa.

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

                                      ***

The 2009 First Quarter Earnings Supplement will be available today on the
American Express web site at HTTP://IR.AMERICANEXPRESS.COM. An investor
conference call will be held at 5:00 p.m. (ET) today to discuss first-quarter
earnings results. Live audio and presentation slides for the investor
conference call will be available to the general public at the same web site.
A replay of the conference call will be available later today at the same web
site address.

                                     -5-
<PAGE>
EXHIBIT 1

                           AMERICAN EXPRESS COMPANY
                              U.S. CARD SERVICES
<TABLE>
<CAPTION>
(BILLIONS, EXCEPT PERCENTAGES)

                                         Quarter Ended       Quarter Ended      Quarter Ended
                                         March 31, 2009      December 31, 2008  March 31, 2008
<S>                                         <C>               <C>                 <C>
Cardmember lending - owned basis (A):
Average Loans                              $30.2                 $33.2            $39.6
Net write-off rate                           8.5%                 7.0%              4.5%

Cardmember lending - managed basis (B):
Average Loans (B)                          $59.1                 $63.0            $64.5
Net write-off rate                           8.5%                  6.7%             4.3%
</TABLE>




(A) "Owned," a GAAP basis measurement, reflects only cardmember loans included
in the company's Consolidated Balance Sheets.

(B) The managed basis presentation assumes that there have been no off-balance
sheet securitization transactions, i.e., all securitized cardmember loans and
related income effects are reflected as if they were in the company's balance
sheets and income statements, respectively. The difference between the "owned
basis" (GAAP) information and "managed basis" information is attributable to
the effects of securitization activities. The company presents U.S. Card
Services information on a managed basis because that is the way the company's
management views and manages the business. Management believes that a full
picture of trends in the company's cardmember lending business can only be
derived by evaluating the performance of both securitized and non-securitized
cardmember loans. Management also believes that use of a managed basis
presentation presents a more comprehensive portrayal of the key dynamics of
the cardmember lending business. Irrespective of the on and off-balance sheet
funding mix, it is important for management and investors to see metrics for
the entire cardmember lending portfolio because they are more representative
of the economics of the aggregate cardmember relationships and ongoing
business performance and trends over time. It is also important for investors
to see the overall growth of cardmember loans and related revenue in order to
evaluate market share. These metrics are significant in evaluating the
company's performance and can only be properly assessed when all
non-securitized and securitized cardmember loans are viewed together on a
managed basis. The company does not currently securitize international loans.

                                     -6-
<PAGE>


This release includes forward-looking statements, which are subject to risks and
uncertainties. The forward-looking statements, which address the company's
expected business and financial performance, among other matters, contain words
such as "believe," "expect," "anticipate," "optimistic," "intend," "plan,"
"aim," "will," "may," "should," "could," "would," "likely," and similar
expressions. 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 following: the company's ability to manage credit risk related to
consumer debt, business loans, merchants and other credit trends, which will
depend in part on (i) the economic environment, including, among other things,
the housing market, the rates of bankruptcies and unemployment, which can affect
spending on card products, debt payments by individual and corporate customers
and businesses that accept the company's card products, (ii) the effectiveness
of the company's credit models and (iii) the ultimate outcome of certain
proposed legislative initiatives affecting the credit card business; the impact
of the company's efforts to deal with delinquent cardmembers in the current
challenging economic environment, which may affect payment patterns of
cardmembers and the perception of the company's services, products and brands;
the company's near-term write-off rates, including those for the second, third
and fourth quarters of 2009, which will depend in part on changes in the level
of the company's loan balances, delinquency rates of cardmembers and
unemployment and bankruptcy rates; differences between owned (i.e. GAAP) and
managed write-off rates, which can be impacted by factors such as the various
types of customer accounts in the portfolios of the company and the lending
securitization trust; consumer and business spending on the company's credit and
charge card products and Travelers Cheques and other prepaid products and growth
in card lending balances, which depend in part on the economic environment, and
the ability to issue new and enhanced card and prepaid products, services and
rewards programs, and increase revenues from such products, attract new
cardmembers, reduce cardmember attrition, capture a greater share of existing
cardmembers' spending, and sustain premium discount rates on its card products
in light of regulatory and market pressures, increase merchant coverage, retain
cardmembers after low introductory lending rates have expired, and expand the
Global Network Services business; the write-off and delinquency rates in the
medium- to long-term of cardmembers added by the company during the past few
years, which could impact their profitability to the company; the company's
ability to effectively implement changes in the pricing of certain of its
products and services; fluctuations in interest rates (including fluctuations in
benchmarks, such as LIBOR and other benchmark rates, and credit spreads), which
impact the company's borrowing costs, return on lending products and the value
of the company's investments; the company's ability to meet its long-term on
average and over time financial targets; the actual amount to be spent by the
company on marketing, promotion, rewards and cardmember services based on
management's assessment of competitive opportunities and other factors affecting
its judgment; the ability to control and manage operating, infrastructure,
advertising and promotion expenses as business expands or changes, including the
ability to accurately estimate the provision for the cost of the Membership
Rewards program; fluctuations in foreign currency exchange rates; the company's
ability to grow its business and generate excess capital and earnings in a
manner and at levels that will allow the company to return a portion of capital
to shareholders, which will depend on the company's ability to manage its
capital needs, and the effect of business mix, acquisitions and rating agency
and regulatory requirements, including those arising from the company's status
as a bank holding company; the ability of the company to meet its objectives
with respect to the growth of its brokered retail CD program and brokerage sweep
account program and the implementation of its direct deposit initiative; the
success of the Global Network Services business in partnering with banks in the
United States, which will depend in part on the extent to which such business
further enhances the company's brand, allows the company to leverage its
significant processing scale, expands merchant coverage of the network, provides
Global Network Services' bank partners in the United States the benefits of
greater cardmember loyalty and higher spend per customer, and merchant benefits
such as greater transaction volume and additional higher spending customers; the
ability of the Global Network Services business to meet the performance
requirements called for by the company's settlements with MasterCard and Visa;
trends in travel and entertainment spending and the overall level of consumer
confidence; the uncertainties associated with business acquisitions, including,
among others, the failure to realize anticipated business retention, growth and
cost savings, as well as the ability to effectively integrate the acquired
business into the company's existing operations; the underlying assumptions and
expectations related to the February 2008 sale of the American Express Bank Ltd.
businesses and the transaction's impact on the company's earnings proving to be
inaccurate or unrealized; the success, timeliness and financial impact
(including costs, cost savings, and other benefits, including increased
revenues), and beneficial effect on the company's operating expense to revenue
ratio, both in the short-term (including during 2009) and over time, of
reengineering initiatives being implemented or considered by the company,
including cost management, structural and strategic measures such as vendor,
process, facilities and operations consolidation, outsourcing (including, among
others, technologies operations), relocating certain functions to lower-cost
overseas locations, moving internal and external functions to the internet to
save costs, and planned staff reductions relating to certain of such
reengineering actions; the company's ability to reinvest the benefits arising
from such reengineering actions in its businesses; bankruptcies, restructurings,
consolidations or similar events (including, among others, the Delta Air
Lines/Northwest Airlines merger) affecting the airline or any other industry
representing a significant portion of the company's billed business, including
any potential negative effect on particular card products and services and
billed business generally that could result from the actual or perceived
weakness of key business partners in such industries; the triggering of
obligations to make payments to certain co-brand partners, merchants, vendors

                                     -7-
<PAGE>
and customers under contractual arrangements with such parties under certain
circumstances; a downturn in the company's businesses and/or negative changes in
the company's and its subsidiaries' credit ratings, which could result in
contingent payments under contracts, decreased liquidity and higher borrowing
costs; the ability of the company to satisfy its liquidity needs and execute on
its funding plans, which will depend on, among other things, the company's
future business growth, its credit ratings, market capacity and demand for
securities offered by the company, performance by the company's counterparties
under its bank credit facilities and other lending facilities, regulatory
changes, including changes to the policies, rules and regulations of the Board
of Governors of the Federal Reserve System and the Federal Reserve Bank of San
Francisco, the company's ability to securitize and sell receivables and the
performance of receivables previously sold in securitization transactions and
the company's ability to meet the criteria for participation in certain
liquidity facilities and other funding programs, including the Commercial Paper
Funding Facility and the Temporary Liquidity Guarantee Program, being made
available through the Federal Reserve Bank of New York, the Federal Deposit
Insurance Corporation and other federal departments and agencies; accuracy of
estimates for the fair value of the assets in the company's investment portfolio
and, in particular, those investments that are not readily marketable, including
the valuation of the interest-only strip relating to the company's lending
securitizations and the ability of our charge card and lending trusts to
maintain excess spreads at levels sufficient to avoid material set-asides or
early amortization of our charge card and lending securitizations, which will
depend on various factors such as income derived from the relevant portfolios
and their respective credit performances; the company's ability to avoid
material losses on its investment portfolio, including its investments in state
and municipal obligations, the issuers of which could be adversely affected by
the challenging economic environment; the company's ability to invest in
technology advances across all areas of its business to stay on the leading edge
of technologies applicable to the payment industry; the company's ability to
attract and retain executive management and other key employees in light of the
limitations on compensation imposed on participants in the U.S. Department of
the Treasury's Capital Purchase Program in which the company is a participant;
the company's ability to protect its intellectual property rights (IP) and avoid
infringing the IP of other parties; the potential negative effect on the
company's businesses and infrastructure, including information technology, of
terrorist attacks, natural disasters or other catastrophic events in the future;
political or economic instability in certain regions or countries, which could
affect lending and other commercial activities, among other businesses, or
restrictions on convertibility of certain currencies; changes in laws or
government regulations; the potential impact of regulations recently adopted by
federal bank regulators relating to certain credit and charge card practices,
including, among others, the imposition by card issuers of interest rate
increases on outstanding balances and the allocation of payments in respect of
outstanding balances with different interest rates, which could have an adverse
impact on the company's net income; accounting changes; outcomes and costs
associated with litigation and compliance and regulatory matters; and
competitive pressures in all of the company's major businesses. A further
description of these and other risks and uncertainties can be found in the
company's Annual Report on Form 10-K for the year ended December 31, 2008, and
the company's other reports filed with the SEC.

                                     -8-
<PAGE>
All information in the following tables is presented on a basis prepared in
accordance with U.S. generally accepted accounting principles (GAAP), unless
otherwise indicated.

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                       CONSOLIDATED STATEMENTS OF INCOME

(Millions)

<Table>
<Caption>
                                                                             Quarters Ended
                                                                                March 31,
                                                                            ----------------    Percentage
                                                                             2009      2008     Inc/(Dec)
                                                                            ------    ------    ----------
<S>                                                                         <C>       <C>          <C>
Revenues
Non-interest revenues
  Discount revenue                                                          $3,066    $3,718       (18)%
  Net card fees                                                                532       531         -
  Travel commissions and fees                                                  365       494       (26)
  Other commissions and fees                                                   453       622       (27)
  Securitization income, net                                                   141       444       (68)
  Other                                                                        450       460        (2)
                                                                            ------    ------
     Total non-interest revenues                                             5,007     6,269       (20)
                                                                            ------    ------
Interest income
  Interest and fees on loans                                                 1,292     1,671       (23)
  Interest and dividends on investment securities                              154       186       (17)
  Deposits with banks and other                                                 28        85       (67)
                                                                            ------    ------
    Total interest income                                                    1,474     1,942       (24)
                                                                            ------    ------
Interest expense
  Deposits                                                                      85       149*      (43)
  Short-term borrowings                                                         27       161*      (83)
  Long-term debt                                                               434       650*      (33)
  Other                                                                          9        11*      (18)
                                                                            ------    ------
    Total interest expense                                                     555       971       (43)
                                                                            ------    ------
    Net interest income                                                        919       971        (5)
                                                                            ------    ------
Total revenues net of interest expense                                       5,926     7,240       (18)
                                                                            ------    ------
Provisions for losses
  Charge card                                                                  336       345        (3)
  Cardmember lending                                                         1,414       809        75
  Other                                                                         53        57        (7)
                                                                            ------    ------
     Total provisions for losses                                             1,803     1,211        49
                                                                            ------    ------
Total revenues net of interest expense after provisions for losses           4,123     6,029       (32)
                                                                            ------    ------

Expenses
  Marketing and promotion                                                      345       594       (42)
  Cardmember rewards                                                           846     1,040       (19)
  Cardmember services                                                          111       122        (9)
  Salaries and employee benefits                                             1,253     1,470       (15)
  Professional services                                                        519       550        (6)
  Occupancy and equipment                                                      358       375        (5)
  Communications                                                               104       115       (10)
  Other, net                                                                    43       302       (86)
                                                                            ------    ------
     Total                                                                   3,579     4,568       (22)
                                                                            ------    ------
Pretax income from continuing operations                                       544     1,461       (63)
Income tax provision                                                           101       417       (76)
                                                                            ------    ------
Income from continuing operations                                              443     1,044       (58)
Loss from discontinued operations, net of tax                                   (6)      (53)      (89)
                                                                            ------    ------
Net income                                                                  $  437    $  991       (56)
                                                                            ======    ======
Income from continuing operations attributable to common shareholders (A)   $  367    $1,038       (65)
                                                                            ======    ======
Net income attributable to common shareholders (A)                          $  361    $  985       (63)
                                                                            ======    ======
</Table>

# - Denotes a variance of more than 100%.

* - Revised from prior disclosure on January 26, 2009, as reflected in the
2008 Annual Report to Shareholders, where applicable.

(A) Represents income from continuing operations or net income, as applicable,
less (i) preferred shares dividends and related accretion of $72 million for
the quarter ended March 31, 2009, and (ii) earnings allocated to participating
share awards of $4 million and $6 million for the quarters ended March 31,
2009 and 2008, respectively.

                                       -9-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                     CONDENSED CONSOLIDATED BALANCE SHEETS

(Billions)

<Table>
<Caption>
                                                 March 31,  December 31,
                                                   2009         2008
                                                 ---------  ------------
<S>                                                <C>          <C>
Assets
  Cash                                             $ 21         $ 21
  Accounts receivable                                32           37
  Investment securities                              18           13
  Loans                                              34           41
  Other assets                                       16           14
                                                   ----         ----
    Total assets                                   $121         $126
                                                   ====         ====

Liabilities and Shareholders' Equity
  Customer deposits                                $ 18         $ 15
  Short-term borrowings                               3            9
  Long-term debt                                     58           60
  Other liabilities                                  26           30
                                                   ----         ----
    Total liabilities                               105          114
                                                   ----         ----

  Shareholders' equity                               16           12
                                                   ----         ----
    Total liabilities and shareholders' equity     $121         $126
                                                   ====         ====
</Table>

                                      -10-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                               FINANCIAL SUMMARY

(Millions)

<Table>
<Caption>
                                                                             Quarters Ended
                                                                                March 31,
                                                                            ----------------    Percentage
                                                                             2009      2008     Inc/(Dec)
                                                                            ------    ------    ----------
<S>                                                                         <C>       <C>          <C>
TOTAL REVENUES NET OF INTEREST EXPENSE
  U.S. Card Services                                                        $3,074    $3,722       (17)%
  International Card Services                                                1,023     1,195       (14)
  Global Commercial Services                                                   944     1,144       (17)
  Global Network & Merchant Services                                           836     1,003       (17)
                                                                            ------    ------
                                                                             5,877     7,064       (17)
  Corporate & Other,
    including adjustments and eliminations                                      49       176       (72)
                                                                            ------    ------

CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE                         $5,926    $7,240       (18)
                                                                            ======    ======

PRETAX INCOME (LOSS) FROM CONTINUING OPERATIONS
  U.S. Card Services                                                        $  (50)   $  791         #
  International Card Services                                                    8       117       (93)
  Global Commercial Services                                                   128       218       (41)
  Global Network & Merchant Services                                           365       335         9
                                                                            ------    ------
                                                                               451     1,461       (69)
  Corporate & Other                                                             93         -         #
                                                                            ------    ------

PRETAX INCOME FROM CONTINUING OPERATIONS                                    $  544    $1,461       (63)
                                                                            ======    ======

NET INCOME (LOSS)
  U.S. Card Services                                                        $  (25)   $  523         #
  International Card Services                                                   39       133       (71)
  Global Commercial Services                                                    86       151       (43)
  Global Network & Merchant Services                                           237       223         6
                                                                            ------    ------
                                                                               337     1,030       (67)

  Corporate & Other                                                            106        14         #
                                                                            ------    ------
  Income from continuing operations                                            443     1,044       (58)
  Loss from discontinued operations, net of tax                                 (6)      (53)      (89)
                                                                            ------    ------

NET INCOME                                                                  $  437    $  991       (56)
                                                                            ======    ======
</Table>

# - Denotes a variance of more than 100%.

                                      -11-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                         FINANCIAL SUMMARY (CONTINUED)

<Table>
<Caption>
                                                                            Quarters Ended
                                                                                March 31,
                                                                            ----------------    Percentage
                                                                             2009      2008     Inc/(Dec)
                                                                            ------    ------    ----------
<S>                                                                         <C>       <C>          <C>
EARNINGS PER COMMON SHARE (A)

BASIC
      Income from continuing operations attributable to common
        shareholders                                                        $ 0.32    $ 0.90       (64)%
      Loss from discontinued operations                                      (0.01)    (0.05)      (80)
                                                                            ------    ------
      Net income attributable to common shareholders                        $ 0.31    $ 0.85       (64)%
                                                                            ======    ======

      Average common shares outstanding (millions)                           1,156     1,153         -%
                                                                            ======    ======

DILUTED
      Income from continuing operations attributable to common
        shareholders                                                        $ 0.32    $ 0.89       (64)%
      Loss from discontinued operations                                      (0.01)    (0.04)      (75)
                                                                            ------    ------
      Net income attributable to common shareholders                        $ 0.31    $ 0.85       (64)%
                                                                            ======    ======

      Average common shares outstanding (millions)                           1,156     1,163        (1)%
                                                                            ======    ======

Cash dividends declared per common share                                    $ 0.18    $ 0.18         -%
                                                                            ======    ======
</Table>

                       SELECTED STATISTICAL INFORMATION

<Table>
<Caption>
                                                                             Quarters Ended
                                                                                March 31,
                                                                            ----------------    Percentage
                                                                             2009      2008     Inc/(Dec)
                                                                            ------    ------    ----------
<S>                                                                         <C>       <C>           <C>
Return on average equity (B)                                                  16.3%     35.9%
Return on average common equity (B)                                           16.7%     35.7%
Return on average tangible common equity (B)                                  21.6%     42.5%
Common shares outstanding (millions)                                         1,168     1,158         1%
Book value per common share                                                 $10.61    $ 9.94         7%
Shareholders' equity (billions)                                             $ 15.8    $ 11.5        37%

</Table>

# - Denotes a variance of more than 100%.

(A) Effective January 1, 2009, FSP No. EITF 03-6-1, "Determining Whether
Instruments Granted in Share - Based Payment Transactions are Participating
Securities" requires that Restricted Stock Awards be included in the
computation of basic and diluted earnings per share pursuant to the two -
class method. In accordance with this FSP, the Company has retrospectively
adjusted EPS for all periods presented.

(B) Refer to Appendix I for components of return on average equity, return on
average common equity and return on average tangible common equity.

                                      -12-
</TEXT>
</DOCUMENT>
