American Express Board Nominates New Director

American Express Company (NYSE: AXP) announced that Steven S. Reinemund has been nominated to stand for election to its Board of Directors. The election will take place at the Companys annual shareholders meeting on April 23, 2007.

Mr. Reinemund, 58, is currently Chairman of the Board of PepsiCo. He previously served as Chief Executive Officer in addition to Chairman of the Board. Earlier in his PepsiCo career, he held the positions as PepsiCos President and Chief Operating Officer. Mr. Reinemund began his distinguished 23-year long career with PepsiCo in 1984 with the Pizza Hut division, now part of Yum! Brands, Inc., and became CEO of that division in 1986. During his tenure, he also led the North American snack division and Frito-Lay's worldwide operations.

We are pleased to be nominating a leader of Steves caliber for election to our Board, said Kenneth I. Chenault, Chairman and Chief Executive Officer, American Express. Steve is a strong, established leader with an outstanding track record of growth and innovation at Pepsi. He is widely respected as a visionary strategist and a forward-thinking global corporate citizen.

Mr. Reinemund received a Masters of Business Administration degree from the University of Virginia. He is a graduate of the U.S. Naval Academy and served five years as an officer in the United States Marine Corps. Mr. Reinemund also is a member of the Board of Directors of Johnson & Johnson.

American Express Company ( is a leading global payments, network and travel company founded in 1850.

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