UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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: October 22, 2007


                            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))



ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION AND ITEM 7.01 REGULATION FD DISCLOSURE The following information is furnished under Item 2.02 - Results of Operations and Financial Condition and Item 7.01 - Regulation FD Disclosure: On October 22, 2007, American Express Company issued a press release announcing its financial results for the third quarter of 2007. A copy of such press release is attached to this report as Exhibit 99.1 and is hereby incorporated herein by reference. In addition, in conjunction with the announcement of its financial results, American Express Company distributed additional financial information relating to its 2007 third quarter financial results and a 2007 Third Quarter Earnings Supplement. Such additional financial information and the 2007 Third Quarter Earnings Supplement are attached to this report as Exhibits 99.2 and 99.3, respectively, and each is hereby incorporated by reference. EXHIBIT 99.1 Press Release, dated October 22, 2007, of American Express Company announcing its financial results for the third quarter of 2007. 99.2 Additional financial information relating to the financial results of American Express Company for the third quarter of 2007. 99.3 2007 Third Quarter Earnings Supplement of American Express Company.

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: October 22, 2007

EXHIBIT INDEX Exhibit No. Description --------- ----------- 99.1 Press Release, dated October 22, 2007, of American Express Company announcing its financial results for the third quarter of 2007. 99.2 Additional financial information relating to the financial results of American Express Company for the third quarter of 2007. 99.3 2007 Third Quarter Earnings Supplement of American Express Company.

                                                                    EXHIBIT 99.1

 NEWS RELEASE      NEWS RELEASE      NEWS RELEASE      NEWS RELEASE      NEWS RE

[LOGO OF AMERICAN EXPRESS COMPANY]

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

FOR IMMEDIATE RELEASE

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                  AMERICAN EXPRESS REPORTS STRONG RESULTS
                                            ON HIGHER REVENUES AND RECORD CARDMEMBER SPENDING.
                                           2.5 MILLION CARDS-IN-FORCE ADDED IN THE QUARTER.


                                                 (Millions, except per share amounts)

                                                       Quarters Ended          Percentage         Nine Months Ended       Percentage
                                                        September 30,           Inc/(Dec)           September 30,          Inc/(Dec)
                                                        -------------           ---------           -------------          ---------
                                                      2007          2006                          2007         2006
                                                      ----          ----                          ----         ----
<S>                                         <C>            <C>               <C>        <C>           <C>               <C>
 Revenues net of interest expense              $  6,945       $ 6,265           11%        $ 20,367      $ 18,479          10%

Income From Continuing Operations              $  1,074       $   934           15%        $  3,209      $  2,716          18%
(Loss) Income From Discontinued Operations     $     (7)      $    33            #         $    (28)     $     69           #
Net Income                                     $  1,067       $   967           10%        $  3,181      $  2,785          14%

Earnings Per Common Share - Basic:
   Income From Continuing Operations           $   0.92       $  0.78           18%        $   2.72      $   2.23          22%
   (Loss) Income From Discontinued Operations  $  (0.01)      $  0.02            #         $  (0.02)     $   0.06           #
   Net Income                                  $   0.91       $  0.80           14%        $   2.70      $   2.29          18%

Earnings Per Common Share - Diluted:
   Income From Continuing Operations           $   0.90       $  0.76           18%        $   2.67      $   2.19          22%
   (Loss) Income From Discontinued Operations         -       $  0.03            #         $  (0.02)     $   0.05           #
   Net Income                                  $   0.90       $  0.79           14%        $   2.65      $   2.24          18%

Average Common Shares Outstanding
   Basic                                          1,170         1,202          (3%)           1,179         1,217         (3%)
   Diluted                                        1,192         1,227          (3%)           1,202         1,242         (3%)

Return on Average Equity*                          38.2%         33.6%                         38.2%         33.6%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


* Computed on a trailing 12-month basis using net income over average total
  shareholders' equity (including discontinued operations) as included in the
  Consolidated Financial Statements prepared in accordance with U.S. generally
  accepted accounting principles (GAAP).

# Denotes a variance of more than 100%.


                                      -1-

New York - October 22, 2007 - AMERICAN EXPRESS COMPANY (NYSE: AXP) today reported third quarter income from continuing operations of $1.1 billion, up 15 percent from $934 million a year ago. Diluted earnings per share were $0.90, up 18 percent from $0.76. As previously disclosed, the Company entered into an agreement to sell its international banking subsidiary, American Express Bank Ltd.(AEB). Net income, which includes AEB within discontinued operations, totaled $1.1 billion for the quarter, up 10 percent from $967 million a year ago. On a per share basis, net income was $0.90, up 14 percent from $0.79. Consolidated revenues net of interest expense rose 11 percent to $6.9 billion, up from $6.3 billion a year ago. Consolidated expenses totaled $4.5 billion, up 9 percent from $4.2 billion a year ago. The Company's return on equity (ROE) was 38.2 percent. "Our strong earnings growth this quarter reflected a 16 percent rise in combined spending by consumers, small businesses and corporate Cardmembers," said Kenneth I. Chenault, chairman and chief executive. "Investments that expanded our service, rewards and loyalty programs helped to add 2.5 million cards during the quarter while also generating excellent spending increases from existing Cardmembers. "While we continue to be cautious about the overall economy, our ongoing focus on the premium sector and careful management of loan and investment portfolios allowed us to maintain strong credit quality that compares favorably to the industry. "We continued to build on the momentum of recent periods, generating excellent revenue growth and ending the quarter in a strong competitive position." -2-

The third quarter results included a $75 million tax benefit primarily related to the resolution of prior years' tax items. Also included in results was $81 million ($41 million after-tax) of previously disclosed charges primarily related to the contracted sale of American Express International Deposit Company (AEIDC), a wholly-owned subsidiary of the Company which issues investment certificates to AEB's customers. The year-ago quarter results included a $33 million ($24 million after-tax) gain related to the sale of the Company's card operations in Malaysia and Indonesia. DISCONTINUED OPERATIONS Discontinued operations included a loss of $7 million primarily reflecting the results of AEB. In the year-ago period, discontinued operations included income of $33 million. SEGMENT RESULTS As previously announced, the Company reorganized its businesses into two customer-focused groups - the Global Consumer Group and the Global Business-to-Business Group. The Company will continue to report the U.S. Card Services segment and Global Network & Merchant Services segments consistent with previous reporting. The previously reported International Card & Global Commercial Services segment will now be reported as two separate segments: the International Card Services segment and the Global Commercial Services segment. The Company's U.S. Card Services and International Card Services segments are aligned with the Global Consumer Group and the Company's Global Network & Merchant Services and Global Commercial Services segments are aligned with the Global Business-to-Business Group. In addition, beginning with the third quarter of 2007, and for all prior periods, AEB results have been removed from the Corporate & Other segment and reported within the discontinued operations line on the Company's Consolidated Statements of Income. In addition to the agreement to sell AEB to Standard Chartered PLC, AEIDC was also contracted to be sold to Standard Chartered 18 months after the close of the AEB sale through a put/call agreement. AEIDC will continue to be reflected in continuing operations within the Corporate & Other segment until one year before the anticipated close of this portion of the transaction. Based on the assumed completion of the AEB sale in the first quarter of 2008, we expect to begin reporting AEIDC's results in the discontinued operations line in the third quarter of 2008. The following segment discussion, as well as the selected financial data for all periods presented, reflect the changes noted above. -3-

U.S. CARD SERVICES reported third quarter net income of $592 million, up 6 percent from $558 million a year ago. Revenues net of interest expense for the third quarter increased 12 percent to $3.6 billion, reflecting higher spending and borrowing by consumers and small businesses, which were partially offset by higher interest expense. Total expenses increased 6 percent. Marketing, promotion, rewards and cardmember services expenses increased 7 percent from the year-ago period primarily due to higher rewards costs partially offset by a targeted decrease in marketing and promotion expenses. Human resources and other operating expenses increased 5 percent. Strong growth in loans outstanding, along with write-off and delinquency rates returning to levels more consistent with historical rates from the unusually low levels of a year ago, resulted in a 44 percent increase in provisions for losses. Results for the third quarter included $18 million of the previously mentioned tax benefit. INTERNATIONAL CARD SERVICES reported third quarter net income of $140 million, up 32 percent from $106 million a year ago. Revenues net of interest expense increased 17 percent to $1.1 billion, reflecting higher Cardmember spending, as well as higher loan balances. Total expenses increased 27 percent. Human resources and other operating expenses increased 17 percent from a year ago when these expenses included a gain related to the sale of the Company's card operations in Malaysia and Indonesia. Marketing, promotion, rewards and cardmember services expenses increased 43 percent due to an increase in rewards and higher marketing promotion costs. Provisions for losses were unchanged from a year ago as growth in the loan portfolio was offset by a lower level of write off and delinquency rates. Results for the third quarter included $17 million of the previously mentioned tax benefit and certain consolidated tax benefits arising from this segment's ongoing non-U.S. funding activities. GLOBAL COMMERCIAL SERVICES reported third quarter net income of $135 million, up 29 percent from $105 million a year ago. Revenues net of interest expense increased 12 percent to $1.1 billion, reflecting higher spending by corporate Cardmembers. Total expenses increased 10 percent. Human resources and other operating expenses increased 10 percent reflecting continued growth in the business. Marketing, promotion, rewards and cardmember services expenses increased 8 percent. Provisions for losses increased 24 percent from year-ago levels, primarily reflecting higher volumes. Results for the third quarter included $9 million of the previously mentioned tax benefit. -4-

GLOBAL NETWORK & MERCHANT SERVICES reported third quarter net income of $266 million, up 25 percent from $212 million a year ago. Revenues net of interest expense for the third quarter increased 17 percent to $980 million. The increase reflected continued strong growth in merchant-related revenue primarily from higher company-wide billed business. Spending on Global Network Services cards increased 45 percent from year-ago levels reflecting continued growth in spending on cards issued by bank partners. Cards-in-force issued by bank partners increased 32 percent. Total expenses increased 12 percent, reflecting higher human resources costs and expanded marketing and promotion activities. Results for the third quarter included $22 million of the previously mentioned tax benefit. CORPORATE AND OTHER reported third quarter net expenses of $59 million, compared with net expenses of $47 million a year ago. The increase was primarily due to the previously mentioned charges at AEIDC. *** -5-

American Express Company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850. Note: The 2007 Third 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 with Chief Financial Officer, Daniel T. Henry, at 5:00 p.m. (EDT) today to discuss third quarter earnings results, operating performance and other topics that may be raised during the discussion. Live audio of the investor conference call will be accessible to the general public on the American Express web site at HTTP://IR.AMERICANEXPRESS.COM. A replay of the conference call will be available later today at the same web site address. *** THIS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS, WHICH ARE SUBJECT TO RISKS AND UNCERTAINTIES. THE WORDS "BELIEVE," "EXPECT," "ANTICIPATE," "OPTIMISTIC," "INTEND," "PLAN," "AIM," "WILL," "MAY," "SHOULD," "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 FOLLOWING: THE COMPANY'S ABILITY TO MEET ITS ROE TARGET RANGE OF 33 TO 36 PERCENT ON AVERAGE AND OVER TIME, WHICH WILL DEPEND IN PART ON FACTORS SUCH AS THE COMPANY'S ABILITY TO GENERATE SUFFICIENT REVENUE GROWTH AND ACHIEVE SUFFICIENT MARGINS, FLUCTUATIONS IN THE CAPITAL REQUIRED TO SUPPORT ITS BUSINESSES, THE MIX OF THE COMPANY'S FINANCINGS, AND FLUCTUATIONS IN THE LEVEL OF THE COMPANY'S SHAREHOLDERS' EQUITY DUE TO SHARE REPURCHASES, DIVIDENDS, CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME AND ACCOUNTING CHANGES, AMONG OTHER THINGS; THE ACTUAL AMOUNT SPENT BY THE COMPANY IN THE FOURTH QUARTER OF 2007 ON MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES BASED ON MANAGEMENT'S ASSESSMENT OF COMPETITIVE OPPORTUNITIES AND OTHER FACTORS AFFECTING ITS JUDGMENT; THE COMPANY'S ABILITY TO GROW ITS BUSINESS AND MEET OR EXCEED ITS RETURN ON SHAREHOLDERS' EQUITY TARGET BY REINVESTING APPROXIMATELY 35 PERCENT OF ANNUALLY-GENERATED CAPITAL, AND RETURNING APPROXIMATELY 65 PERCENT OF SUCH CAPITAL TO SHAREHOLDERS, OVER TIME, WHICH WILL DEPEND ON THE COMPANY'S ABILITY TO MANAGE ITS CAPITAL NEEDS AND THE EFFECT OF BUSINESS MIX, -6-

ACQUISITIONS AND RATING AGENCY REQUIREMENTS; 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 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 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; FLUCTUATIONS IN INTEREST RATES (INCLUDING FLUCTUATIONS IN BENCHMARKS, SUCH AS LIBOR AND OTHER BENCHMARK RATES, USED TO PRICE LOANS AND OTHER INDEBTEDNESS, AS WELL AS CREDIT SPREADS IN THE PRICING OF LOANS AND OTHER INDEBTEDNESS), WHICH IMPACT THE COMPANY'S BORROWING COSTS, RETURN ON LENDING PRODUCTS AND THE VALUE OF THE COMPANY'S INVESTMENTS; THE CONTINUATION OF FAVORABLE TRENDS, INCLUDING INCREASED TRAVEL AND ENTERTAINMENT SPENDING, AND THE OVERALL LEVEL OF CONSUMER CONFIDENCE; THE COSTS AND INTEGRATION OF ACQUISITIONS; THE UNDERLYING ASSUMPTIONS AND EXPECTATIONS RELATED TO THE SALE OF THE AMERICAN EXPRESS BANK LTD. BUSINESSES PROVING TO BE INACCURATE OR UNREALIZED, INCLUDING, AMONG OTHER THINGS, THE LIKELIHOOD OF AND EXPECTED TIMING FOR COMPLETION OF THE TRANSACTION, THE PROCEEDS TO BE RECEIVED BY THE COMPANY IN THE TRANSACTION AND THE TRANSACTION'S IMPACT ON THE COMPANY'S EARNINGS; 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 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; 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; THE COMPANY'S ABILITY TO MANAGE CREDIT RISK RELATED TO CONSUMER DEBT, BUSINESS LOANS, MERCHANT BANKRUPTCIES AND OTHER CREDIT TRENDS AND THE RATE OF BANKRUPTCIES, WHICH CAN AFFECT SPENDING ON CARD PRODUCTS, DEBT PAYMENTS BY INDIVIDUAL AND CORPORATE CUSTOMERS AND BUSINESSES THAT ACCEPT THE COMPANY'S CARD PRODUCTS AND RETURNS ON THE COMPANY'S INVESTMENT PORTFOLIOS; BANKRUPTCIES, RESTRUCTURINGS, CONSOLIDATIONS OR SIMILAR EVENTS 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 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; FLUCTUATIONS IN FOREIGN CURRENCY EXCHANGE RATES; 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; 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 PAYMENTS INDUSTRY; 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; 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, 2006, AND ITS OTHER REPORTS FILED WITH THE SEC. -7-

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. Amounts herein reflect certain adjustments as noted in the Company's Form 8-K dated March 30, 2007 filed with the U.S. Securities and Exchange Commission (SEC). Amounts have also been revised to reflect American Express Bank Ltd. (AEB) activities as discontinued operations. In addition, amounts herein reflect certain modifications made to the Company's reportable operating segment disclosures as noted in the Company's Form 8-K dated April 19, 2007 filed with the SEC. Segment disclosures have also been revised to reflect the Company's organizational changes that became effective July 1, 2007 and to remove AEB from the Corporate & Other segment. See also pages 2-3 of the 2007 Third Quarter Earnings Supplement for a description of such adjustments. (Preliminary) AMERICAN EXPRESS COMPANY CONSOLIDATED STATEMENTS OF INCOME (Millions) <Table> <Caption> Quarters Ended Nine Months Ended September 30, September 30, -------------------- Percentage -------------------- Percentage 2007 2006 Inc/(Dec) 2007 2006 Inc/(Dec) -------- -------- ---------- -------- -------- ---------- <S> <C> <C> <C> <C> <C> <C> Revenues Discount revenue $ 3,659 $ 3,259 12% $ 10,684 $ 9,520 12% Net card fees 522 462 13 1,506 1,515 (1) Travel commissions and fees 484 427 13 1,412 1,328 6 Other commissions and fees 644 539 19 1,767 1,660 6 Securitization income, net 392 384 2 1,181 1,142 3 Other 362 417 (13) 1,175 1,161 1 -------- -------- -------- -------- Total 6,063 5,488 10 17,725 16,326 9 -------- -------- -------- -------- Interest income Cardmember lending finance revenue 1,581 1,213 30 4,463 3,260 37 Other (including investment certificates) 309 291 6 969 860 13 -------- -------- -------- -------- Total 1,890 1,504 26 5,432 4,120 32 -------- -------- -------- -------- Total revenues 7,953 6,992 14 23,157 20,446 13 -------- -------- -------- -------- Interest expense Cardmember lending 444 318 40 1,260 841 50 Charge card and other 564 409 38 1,530 1,126 36 -------- -------- -------- -------- Total 1,008 727 39 2,790 1,967 42 -------- -------- -------- -------- Revenues net of interest expense 6,945 6,265 11 20,367 18,479 10 -------- -------- -------- -------- Expenses Marketing, promotion, rewards and cardmember services 1,810 1,586 14 5,098 4,772 7 Human resources 1,366 1,227 11 4,001 3,679 9 Professional services 539 562 (4) 1,637 1,621 1 Occupancy and equipment 374 346 8 1,054 1,012 4 Communications 118 104 13 342 322 6 Other 339 342 (1) 980 993 (1) -------- -------- -------- -------- Total 4,546 4,167 9 13,112 12,399 6 -------- -------- -------- -------- Provisions for losses and benefits Charge card 279 257 9 721 658 10 Cardmember lending 579 412 41 1,791 1,139 57 Other (including investment certificates) 124 118 5 306 331 (8) -------- -------- -------- -------- Total 982 787 25 2,818 2,128 32 -------- -------- -------- -------- Pretax income from continuing operations 1,417 1,311 8 4,437 3,952 12 Income tax provision 343 377 (9) 1,228 1,236 (1) -------- -------- -------- -------- Income from continuing operations 1,074 934 15 3,209 2,716 18 (Loss) Income from discontinued operations, net of tax (7) 33 # (28) 69 # -------- -------- -------- -------- Net income $ 1,067 $ 967 10 $ 3,181 $ 2,785 14 ======== ======== ======== ======== </Table> # - Denotes a variance of more than 100%. -8- <Page> (Preliminary) AMERICAN EXPRESS COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (Billions) <Table> <Caption> September 30, December 31, 2007 2006 --------------- --------------- <S> <C> <C> Assets Cash and cash equivalents $ 8 $ 5 Accounts receivable 40 39 Investments 16 18 Loans 50 43 Other assets 10 9 Assets of discontinued operations 17 14 --------------- --------------- Total assets $ 141 $ 128 =============== =============== Liabilities and Shareholders' Equity Short-term debt $ 15 $ 15 Long-term debt 54 43 Other liabilities 45 45 Liabilities of discontinued operations 16 14 --------------- --------------- Total liabilities 130 117 --------------- --------------- Shareholders' equity 11 11 --------------- --------------- Total liabilities and shareholders' equity $ 141 $ 128 =============== =============== </Table> -9- <Page> (Preliminary) AMERICAN EXPRESS COMPANY FINANCIAL SUMMARY (Millions) <Table> <Caption> Quarters Ended Nine Months Ended September 30, September 30, -------------------- Percentage -------------------- Percentage 2007 2006 Inc/(Dec) 2007 2006 Inc/(Dec) -------- -------- ----------- -------- -------- ---------- <S> <C> <C> <C> <C> <C> <C> REVENUES NET OF INTEREST EXPENSE U.S. Card Services $ 3,589 $ 3,203 12% $ 10,513 $ 9,271 13% International Card Services 1,114 952 17 3,142 2,939 7 Global Commercial Services 1,064 949 12 3,141 2,918 8 Global Network & Merchant Services 980 841 17 2,823 2,428 16 -------- -------- -------- -------- 6,747 5,945 13 19,619 17,556 12 Corporate & Other, including adjustments and eliminations 198 320 (38) 748 923 (19) -------- -------- -------- -------- CONSOLIDATED REVENUES NET OF INTEREST EXPENSE $ 6,945 $ 6,265 11 $ 20,367 $ 18,479 10 ======== ======== ======== ======== PRETAX INCOME (LOSS) FROM CONTINUING OPERATIONS U.S. Card Services $ 912 $ 839 9 $ 2,770 $ 2,600 7 International Card Services 110 121 (9) 298 236 26 Global Commercial Services 187 157 19 600 549 9 Global Network & Merchant Services 389 314 24 1,181 891 33 -------- -------- -------- -------- 1,598 1,431 12 4,849 4,276 13 Corporate & Other (181) (120) 51 (412) (324) 27 -------- -------- -------- -------- PRETAX INCOME FROM CONTINUING OPERATIONS $ 1,417 $ 1,311 8 $ 4,437 $ 3,952 12 ======== ======== ======== ======== NET INCOME (LOSS) U.S. Card Services $ 592 $ 558 6 $ 1,816 $ 1,679 8 International Card Services 140 106 32 359 244 47 Global Commercial Services 135 105 29 426 360 18 Global Network & Merchant Services 266 212 25 768 578 33 -------- -------- -------- -------- 1,133 981 15 3,369 2,861 18 Corporate & Other (59) (47) 26 (160) (145) 10 -------- -------- -------- -------- Income from continuing operations 1,074 934 15 3,209 2,716 18 (Loss) Income from discontinued operations, net of tax (7) 33 # (28) 69 # -------- -------- -------- -------- NET INCOME $ 1,067 $ 967 10 $ 3,181 $ 2,785 14 ======== ======== ======== ======== </Table> # - Denotes a variance of more than 100%. -10- <Page> (Preliminary) AMERICAN EXPRESS COMPANY FINANCIAL SUMMARY (CONTINUED) <Table> <Caption> Quarters Ended Nine Months Ended September 30, September 30, -------------------- Percentage -------------------- Percentage 2007 2006 Inc/(Dec) 2007 2006 Inc/(Dec) -------- -------- ---------- -------- -------- ---------- <S> <C> <C> <C> <C> <C> <C> EARNINGS PER COMMON SHARE BASIC Income from continuing operations $ 0.92 $ 0.78 18% $ 2.72 $ 2.23 22% (Loss) Income from discontinued operations (0.01) 0.02 # $ (0.02) 0.06 # -------- -------- -------- -------- Net income $ 0.91 $ 0.80 14% $ 2.70 $ 2.29 18% ======== ======== ======== ======== Average common shares outstanding (millions) 1,170 1,202 (3)% 1,179 1,217 (3)% ======== ======== ======== ======== DILUTED Income from continuing operations $ 0.90 $ 0.76 18% $ 2.67 $ 2.19 22% (Loss) Income from discontinued operations - 0.03 # (0.02) 0.05 # -------- -------- -------- -------- Net income $ 0.90 $ 0.79 14% $ 2.65 $ 2.24 18% ======== ======== ======== ======== Average common shares outstanding (millions) 1,192 1,227 (3)% 1,202 1,242 (3)% ======== ======== ======== ======== Cash dividends declared per common share $ 0.15 $ 0.15 -% $ 0.45 $ 0.42 7% ======== ======== ======== ======== </Table> SELECTED STATISTICAL INFORMATION <Table> <Caption> Quarters Ended Nine Months Ended September 30, September 30, -------------------- Percentage -------------------- Percentage 2007 2006 Inc/(Dec) 2007 2006 Inc/(Dec) -------- -------- ---------- -------- -------- ---------- <S> <C> <C> <C> <C> <C> <C> Return on average equity (A) 38.2% 33.6% 38.2% 33.6% Common shares outstanding (millions) 1,169 1,204 (3)% 1,169 1,204 (3)% Book value per common share $ 9.32 $ 8.93 4% $ 9.32 $ 8.93 4% Shareholders' equity (billions) $ 10.9 $ 10.8 1% $ 10.9 $ 10.8 1% </Table> # - Denotes a variance of more than 100%. (A) Computed on a trailing 12-month basis using net income over average total shareholders' equity (including discontinued operations) as included in the Consolidated Financial Statements prepared in accordance with GAAP. -11-

                                                                    EXHIBIT 99.2

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. Amounts herein reflect certain adjustments as noted in
the Company's Form 8-K dated March 30, 2007 filed with the U.S. Securities and
Exchange Commission (SEC). Amounts have also been revised to reflect American
Express Bank Ltd. (AEB) activities as discontinued operations. In addition,
amounts herein reflect certain modifications made to the Company's reportable
operating segment disclosures as noted in the Company's Form 8-K dated April
19, 2007 filed with the SEC. Segment disclosures have also been revised to
reflect the Company's organizational changes that became effective July 1,
2007 and to remove AEB from the Corporate & Other segment. See also pages 2-3
of the 2007 Third Quarter Earnings Supplement for a description of such
adjustments.

(Preliminary)

                             AMERICAN EXPRESS COMPANY
                         CONSOLIDATED STATEMENTS OF INCOME

(Millions)

<Table>
<Caption>
                                                            Quarters Ended                      Nine Months Ended
                                                             September 30,                        September 30,
                                                         --------------------   Percentage     --------------------   Percentage
                                                           2007        2006      Inc/(Dec)       2007        2006      Inc/(Dec)
                                                         --------    --------   ----------     --------    --------   ----------
<S>                                                      <C>         <C>               <C>     <C>         <C>                <C>
Revenues
  Discount revenue                                       $  3,659    $  3,259           12%    $ 10,684    $  9,520           12%
  Net card fees                                               522         462           13        1,506       1,515           (1)
  Travel commissions and fees                                 484         427           13        1,412       1,328            6
  Other commissions and fees                                  644         539           19        1,767       1,660            6
  Securitization income, net                                  392         384            2        1,181       1,142            3
  Other                                                       362         417          (13)       1,175       1,161            1
                                                         --------    --------                  --------    --------
    Total                                                   6,063       5,488           10       17,725      16,326            9
                                                         --------    --------                  --------    --------
  Interest income
    Cardmember lending finance revenue                      1,581       1,213           30        4,463       3,260           37
    Other (including investment certificates)                 309         291            6          969         860           13
                                                         --------    --------                  --------    --------
      Total                                                 1,890       1,504           26        5,432       4,120           32
                                                         --------    --------                  --------    --------
        Total revenues                                      7,953       6,992           14       23,157      20,446           13
                                                         --------    --------                  --------    --------
  Interest expense
    Cardmember lending                                        444         318           40        1,260         841           50
    Charge card and other                                     564         409           38        1,530       1,126           36
                                                         --------    --------                  --------    --------
      Total                                                 1,008         727           39        2,790       1,967           42
                                                         --------    --------                  --------    --------
Revenues net of interest expense                            6,945       6,265           11       20,367      18,479           10
                                                         --------    --------                  --------    --------

Expenses
  Marketing, promotion, rewards and cardmember services     1,810       1,586           14        5,098       4,772            7
  Human resources                                           1,366       1,227           11        4,001       3,679            9
  Professional services                                       539         562           (4)       1,637       1,621            1
  Occupancy and equipment                                     374         346            8        1,054       1,012            4
  Communications                                              118         104           13          342         322            6
  Other                                                       339         342           (1)         980         993           (1)
                                                         --------    --------                  --------    --------
    Total                                                   4,546       4,167            9       13,112      12,399            6
                                                         --------    --------                  --------    --------
Provisions for losses and benefits
    Charge card                                               279         257            9          721         658           10
    Cardmember lending                                        579         412           41        1,791       1,139           57
    Other (including investment certificates)                 124         118            5          306         331           (8)
                                                         --------    --------                  --------    --------
        Total                                                 982         787           25        2,818       2,128           32
                                                         --------    --------                  --------    --------
Pretax income from continuing operations                    1,417       1,311            8        4,437       3,952           12
Income tax provision                                          343         377           (9)       1,228       1,236           (1)
                                                         --------    --------                  --------    --------
Income from continuing operations                           1,074         934           15        3,209       2,716           18
(Loss) Income from discontinued operations, net of tax         (7)         33            #          (28)         69            #
                                                         --------    --------                  --------    --------
Net income                                               $  1,067    $    967           10     $  3,181    $  2,785           14
                                                         ========    ========                  ========    ========
</Table>

# - Denotes a variance of more than 100%.

                                      -1-
<Page>

(Preliminary)

                             AMERICAN EXPRESS COMPANY
                      CONDENSED CONSOLIDATED BALANCE SHEETS

(Billions)

<Table>
<Caption>
                                                  September 30,    December 31,
                                                      2007             2006
                                                 ---------------   ---------------
<S>                                              <C>               <C>
Assets
  Cash and cash equivalents                      $             8   $             5
  Accounts receivable                                         40                39
  Investments                                                 16                18
  Loans                                                       50                43
  Other assets                                                10                 9
  Assets of discontinued operations                           17                14
                                                 ---------------   ---------------
    Total assets                                 $           141   $           128
                                                 ===============   ===============

Liabilities and Shareholders' Equity
  Short-term debt                                $            15   $            15
  Long-term debt                                              54                43
  Other liabilities                                           45                45
  Liabilities of discontinued operations                      16                14
                                                 ---------------   ---------------
    Total liabilities                                        130               117
                                                 ---------------   ---------------

  Shareholders' equity                                        11                11
                                                 ---------------   ---------------
    Total liabilities and shareholders' equity   $           141   $           128
                                                 ===============   ===============
</Table>

                                      -2-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                               FINANCIAL SUMMARY

(Millions)

<Table>
<Caption>
                                                            Quarters Ended                      Nine Months Ended
                                                             September 30,                        September 30,
                                                         --------------------   Percentage     --------------------    Percentage
                                                           2007        2006      Inc/(Dec)       2007        2006      Inc/(Dec)
                                                         --------    --------   -----------    --------    --------    ----------
<S>                                                      <C>         <C>                <C>    <C>         <C>                <C>
REVENUES NET OF INTEREST EXPENSE
  U.S. Card Services                                     $  3,589    $  3,203            12%   $ 10,513    $  9,271            13%
  International Card Services                               1,114         952            17       3,142       2,939             7
  Global Commercial Services                                1,064         949            12       3,141       2,918             8
  Global Network & Merchant Services                          980         841            17       2,823       2,428            16
                                                         --------    --------                  --------    --------
                                                            6,747       5,945            13      19,619      17,556            12
  Corporate & Other, including adjustments and
    eliminations                                              198         320           (38)        748         923           (19)
                                                         --------    --------                  --------    --------

CONSOLIDATED REVENUES NET OF INTEREST EXPENSE            $  6,945    $  6,265            11    $ 20,367    $ 18,479            10
                                                         ========    ========                  ========    ========

PRETAX INCOME (LOSS) FROM CONTINUING OPERATIONS
  U.S. Card Services                                     $    912    $    839             9    $  2,770    $  2,600             7
  International Card Services                                 110         121            (9)        298         236            26
  Global Commercial Services                                  187         157            19         600         549             9
  Global Network & Merchant Services                          389         314            24       1,181         891            33
                                                         --------    --------                  --------    --------
                                                            1,598       1,431            12       4,849       4,276            13
  Corporate & Other                                          (181)       (120)           51        (412)       (324)           27
                                                         --------    --------                  --------    --------

PRETAX INCOME FROM CONTINUING OPERATIONS                 $  1,417    $  1,311             8    $  4,437    $  3,952            12
                                                         ========    ========                  ========    ========

NET INCOME (LOSS)
  U.S. Card Services                                     $    592    $    558             6    $  1,816    $  1,679             8
  International Card Services                                 140         106            32         359         244            47
  Global Commercial Services                                  135         105            29         426         360            18
  Global Network & Merchant Services                          266         212            25         768         578            33
                                                         --------    --------                  --------    --------
                                                            1,133         981            15       3,369       2,861            18
  Corporate & Other                                           (59)        (47)           26        (160)       (145)           10
                                                         --------    --------                  --------    --------
  Income from continuing operations                         1,074         934            15       3,209       2,716            18
  (Loss) Income from discontinued operations, net
    of tax                                                     (7)         33             #         (28)         69             #
                                                         --------    --------                  --------    --------

NET INCOME                                               $  1,067    $    967            10    $  3,181    $  2,785            14
                                                         ========    ========                  ========    ========
</Table>

# - Denotes a variance of more than 100%.

                                      -3-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                         FINANCIAL SUMMARY (CONTINUED)

<Table>
<Caption>
                                                            Quarters Ended                      Nine Months Ended
                                                             September 30,                        September 30,
                                                         --------------------   Percentage     --------------------   Percentage
                                                           2007        2006      Inc/(Dec)       2007        2006     Inc/(Dec)
                                                         --------    --------   ----------     --------    --------   ----------
<S>                                                      <C>         <C>                <C>    <C>         <C>                <C>
EARNINGS PER COMMON SHARE
BASIC
  Income from continuing operations                      $   0.92    $   0.78           18%    $   2.72    $   2.23           22%
  (Loss) Income from discontinued operations                (0.01)       0.02            #     $  (0.02)       0.06            #
                                                         --------    --------                  --------    --------
  Net income                                             $   0.91    $   0.80           14%    $   2.70    $   2.29           18%
                                                         ========    ========                  ========    ========

  Average common shares outstanding (millions)              1,170       1,202           (3)%      1,179       1,217           (3)%
                                                         ========    ========                  ========    ========
DILUTED
  Income from continuing operations                      $   0.90    $   0.76           18%    $   2.67    $   2.19           22%
  (Loss) Income from discontinued operations                    -        0.03            #        (0.02)       0.05            #
                                                         --------    --------                  --------    --------
  Net income                                             $   0.90    $   0.79           14%    $   2.65    $   2.24           18%
                                                         ========    ========                  ========    ========

  Average common shares outstanding (millions)              1,192       1,227           (3)%      1,202       1,242           (3)%
                                                         ========    ========                  ========    ========

Cash dividends declared per common share                 $   0.15    $   0.15            -%    $   0.45    $   0.42            7%
                                                         ========    ========                  ========    ========
</Table>

                       SELECTED STATISTICAL INFORMATION

<Table>
<Caption>
                                                            Quarters Ended                      Nine Months Ended
                                                             September 30,                        September 30,
                                                         --------------------   Percentage     --------------------   Percentage
                                                           2007        2006      Inc/(Dec)       2007        2006     Inc/(Dec)
                                                         --------    --------   ----------     --------    --------   ----------
<S>                                                      <C>         <C>                <C>    <C>         <C>                <C>
Return on average equity (A)                                 38.2%       33.6%                     38.2%       33.6%
Common shares outstanding (millions)                        1,169       1,204           (3)%      1,169       1,204           (3)%
Book value per common share                              $   9.32    $   8.93            4%    $   9.32    $   8.93            4%
Shareholders' equity (billions)                          $   10.9    $   10.8            1%    $   10.9    $   10.8            1%
</Table>

# - Denotes a variance of more than 100%.

(A) Computed on a trailing 12-month basis using net income over average total
shareholders' equity (including discontinued operations) as included in the
Consolidated Financial Statements prepared in accordance with GAAP.

                                      -4-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                      Quarters Ended
                                                       September 30,
                                                  ----------------------    Percentage
                                                    2007         2006       Inc/(Dec)
                                                  ---------    ---------    ----------
<S>                                               <C>          <C>                  <C>
Card billed business (A):
  United States                                   $   115.2    $   101.7            13%
  Outside the United States                            47.3         38.6            23
                                                  ---------    ---------
    Total                                         $   162.5    $   140.3            16
                                                  =========    =========
Total cards-in-force (millions) (B):
  United States                                        51.7         46.8            10%
  Outside the United States                            33.0         29.7            11
                                                  ---------    ---------
    Total                                              84.7         76.5            11
                                                  =========    =========
Basic cards-in-force (millions) (B):
  United States                                        40.1         36.0            11%
  Outside the United States                            28.3         25.2            12
                                                  ---------    ---------
    Total                                              68.4         61.2            12
                                                  =========    =========
Average discount rate (C)                              2.57%        2.57%
Average basic cardmember spending (dollars) (D)   $   3,006    $   2,782             8%
Average fee per card (dollars) (D)                $      36    $      34             6%
</Table>

(A) Card billed business includes activities (including cash advances) related
to proprietary cards, cards issued under network partnership agreements, and
certain insurance fees charged on proprietary cards.

(B) Total cards-in-force represents the number of cards that are issued and
outstanding. Proprietary basic consumer cards-in-force includes basic cards
issued to the primary account owner and does not include additional
supplemental cards issued on that account. Proprietary basic small business
and corporate cards-in-force include basic and supplemental cards issued to
employee cardmembers. Non-proprietary basic cards-in-force includes all cards
that are issued and outstanding under network partnership agreements.

(C) Computed as follows: Discount revenue from all card spending (proprietary
and Global Network Services) at merchants divided by all billed business
(proprietary and Global Network Services) generating discount revenue at such
merchants. Only merchants acquired by the Company are included in the
computation.

(D) Average basic cardmember spending and average fee per card are computed
from proprietary card activities only. Average fee per card is computed based
on net card fees excluding the amortization of deferred direct acquisition
costs.

                                      -5-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                 SELECTED STATISTICAL INFORMATION (CONTINUED)

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                      Quarters Ended
                                                       September 30,
                                                  ----------------------    Percentage
                                                    2007         2006       Inc/(Dec)
                                                  ---------    ---------    ----------
<S>                                               <C>          <C>                 <C>
Worldwide cardmember receivables:
  Total receivables                               $    38.5    $    35.0            10%
  90 days past due as a % of total                      2.8%         2.8%
  Loss reserves (millions):                       $     998    $     947             5%
    % of receivables                                    2.6%         2.7%
    % of 90 days past due                                91%          97%
  Net loss ratio as a % of charge volume               0.26%        0.26%

Worldwide cardmember lending - owned basis (A):
  Total loans                                     $    50.5    $    38.3            32%
  30 days past due loans as a % of total                3.0%         2.8%
  Loss reserves (millions):
    Beginning balance                             $   1,417    $   1,086            30%
      Provision                                         543          381            43
      Net write offs                                   (499)        (353)           41
      Other                                               8           12           (33)
                                                  ---------    ---------
    Ending balance                                $   1,469    $   1,126            30
                                                  =========    =========
    % of loans                                          2.9%         2.9%
    % of past due                                        97%         106%
  Average loans                                   $    48.8    $    37.5            30%
  Net write-off rate                                    4.1%         3.8%
  Net finance revenue(B)/average loans                  9.3%         9.5%

Worldwide cardmember lending - managed basis (C):
  Total loans                                     $    72.0    $    58.5            23%
  30 days past due loans as a % of total                2.8%         2.7%
  Loss reserves (millions):
    Beginning balance                             $   1,917    $   1,546            24%
      Provision                                         762          512            49
      Net write offs                                   (696)        (498)           40
      Other                                               8           11           (27)
                                                  ---------    ---------
    Ending balance                                $   1,991    $   1,571            27
                                                  =========    =========
    % of loans                                          2.8%         2.7%
    % of past due                                        97%         101%
  Average loans                                   $    70.1    $    57.6            22%
  Net write-off rate                                    4.0%         3.5%
  Net finance revenue(B)/average loans                  9.4%         9.4%
</Table>

# - Denotes a variance of more than 100%.

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

(B) Computed on an annualized basis.

(C) 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. Refer to the information set forth under U.S. Card
Services Selected Financial Information on page 20 for further discussion of
the managed basis presentation.

                                      -6-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                       CONSOLIDATED STATEMENTS OF INCOME

(Millions)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                         -------------------------------------------------------------------------
                                                         September 30,     June 30,     March 31,     December 31,    September 30,
                                                              2007           2007         2007           2006            2006
                                                         -------------    ----------   ----------    -------------   -------------
<S>                                                      <C>              <C>          <C>           <C>             <C>
Revenues
  Discount revenue                                       $       3,659    $    3,670   $    3,355    $       3,458   $       3,259
  Net card fees                                                    522           500          484              479             462
  Travel commissions and fees                                      484           491          437              450             427
  Other commissions and fees                                       644           587          536              573             539
  Securitization income, net                                       392           332          457              347             384
  Other                                                            362           426          387              528             417
                                                         -------------    ----------   ----------    -------------   -------------
    Total                                                        6,063         6,006        5,656            5,835           5,488
                                                         -------------    ----------   ----------    -------------   -------------
  Interest income
    Cardmember lending finance revenue                           1,581         1,514        1,368            1,326           1,213
    Other (including investment certificates)                      309           357          303              287             291
                                                         -------------    ----------   ----------    -------------   -------------
      Total                                                      1,890         1,871        1,671            1,613           1,504
                                                         -------------    ----------   ----------    -------------   -------------
        Total revenues                                           7,953         7,877        7,327            7,448           6,992
                                                         -------------    ----------   ----------    -------------   -------------
  Interest expense
    Cardmember lending                                             444           431          385              351             318
    Charge card and other                                          564           508          458              422             409
                                                         -------------    ----------   ----------    -------------   -------------
      Total                                                      1,008           939          843              773             727
                                                         -------------    ----------   ----------    -------------   -------------
Revenues net of interest expense                                 6,945         6,938        6,484            6,675           6,265
                                                         -------------    ----------   ----------    -------------   -------------
Expenses
  Marketing, promotion, rewards and cardmember
    services                                                     1,810         1,826        1,462            1,732           1,586
  Human resources                                                1,366         1,334        1,301            1,361           1,227
  Professional services                                            539           580          518              648             562
  Occupancy and equipment                                          374           352          328              372             346
  Communications                                                   118           112          112              112             104
  Other                                                            339           348          293              365             342
                                                         -------------    ----------   ----------    -------------   -------------
    Total                                                        4,546         4,552        4,014            4,590           4,167
                                                         -------------    ----------   ----------    -------------   -------------
Provisions for losses and benefits
    Charge card                                                    279           233          209              277             257
    Cardmember lending                                             579           638          574              484             412
    Other (including investment certificates)                      124           106           76              137             118
                                                         -------------    ----------   ----------    -------------   -------------
      Total                                                        982           977          859              898             787
                                                         -------------    ----------   ----------    -------------   -------------
Pretax income from continuing operations                         1,417         1,409        1,611            1,187           1,311
Income tax provision                                               343           369          516              292             377
                                                         -------------    ----------   ----------    -------------   -------------
Income from continuing operations                                1,074         1,040        1,095              895             934
(Loss) Income from discontinued operations, net of tax              (7)           17          (38)              27              33
                                                         -------------    ----------   ----------    -------------   -------------
Net income                                               $       1,067    $    1,057   $    1,057    $         922   $         967
                                                         =============    ==========   ==========    =============   =============
</Table>

                                      -7-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                               FINANCIAL SUMMARY

(Millions)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                         -------------------------------------------------------------------------
                                                         September 30,     June 30,     March 31,     December 31,    September 30,
                                                              2007           2007         2007           2006            2006
                                                         -------------    ----------   ----------    -------------   -------------
<S>                                                      <C>              <C>          <C>           <C>             <C>
REVENUES NET OF INTEREST EXPENSE
  U.S. Card Services                                     $       3,589    $    3,560   $    3,364    $       3,349   $       3,203
  International Card Services                                    1,114         1,049          979            1,026             952
  Global Commercial Services                                     1,064         1,083          994              982             949
  Global Network & Merchant Services                               980           966          877              916             841
                                                         -------------    ----------   ----------    -------------   -------------
                                                                 6,747         6,658        6,214            6,273           5,945
  Corporate & Other, including adjustments and
    eliminations                                                   198           280          270              402             320
                                                         -------------    ----------   ----------    -------------   -------------

CONSOLIDATED REVENUES NET OF INTEREST EXPENSE            $       6,945    $    6,938   $    6,484    $       6,675   $       6,265
                                                         =============    ==========   ==========    =============   =============
PRETAX INCOME (LOSS) FROM CONTINUING OPERATIONS
  U.S. Card Services                                     $         912    $      827   $    1,031    $         723   $         839
  International Card Services                                      110            92           96               76             121
  Global Commercial Services                                       187           218          195              167             157
  Global Network & Merchant Services                               389           418          374              297             314
                                                         -------------    ----------   ----------    -------------   -------------
                                                                 1,598         1,555        1,696            1,263           1,431

  Corporate & Other                                               (181)         (146)         (85)             (76)           (120)
                                                         -------------    ----------   ----------    -------------   -------------

PRETAX INCOME FROM CONTINUING OPERATIONS                 $       1,417    $    1,409   $    1,611    $       1,187   $       1,311
                                                         =============    ==========   ==========    =============   =============
NET INCOME (LOSS)
  U.S. Card Services                                     $         592    $      580   $      644    $         473   $         558
  International Card Services                                      140           117          102               99             106
  Global Commercial Services                                       135           162          129              117             105
  Global Network & Merchant Services                               266           266          236              201             212
                                                         -------------    ----------   ----------    -------------   -------------
                                                                 1,133         1,125        1,111              890             981

  Corporate & Other                                                (59)          (85)         (16)               5             (47)
                                                         -------------    ----------   ----------    -------------   -------------
  Income from continuing operations                              1,074         1,040        1,095              895             934
  (Loss) Income from discontinued operations, net
    of tax                                                          (7)           17          (38)              27              33
                                                         -------------    ----------   ----------    -------------   -------------

NET INCOME                                               $       1,067    $    1,057   $    1,057    $         922   $         967
                                                         =============    ==========   ==========    =============   =============
</Table>

                                      -8-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                         FINANCIAL SUMMARY (CONTINUED)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                         -------------------------------------------------------------------------
                                                         September 30,     June 30,     March 31,     December 31,    September 30,
                                                              2007           2007         2007           2006            2006
                                                         -------------    ----------   ----------    -------------   -------------
<S>                                                      <C>              <C>          <C>           <C>             <C>
EARNINGS PER COMMON SHARE
BASIC
  Income from continuing operations                      $        0.92    $     0.88   $     0.92    $        0.75   $        0.78
  (Loss) Income from discontinued operations                     (0.01)         0.02        (0.03)            0.02            0.02
                                                         -------------    ----------   ----------    -------------   -------------
  Net income                                             $        0.91    $     0.90   $     0.89    $        0.77   $        0.80
                                                         =============    ==========   ==========    =============   =============

  Average common shares outstanding (millions)                   1,170         1,179        1,187            1,196           1,202
                                                         =============    ==========   ==========    =============   =============
DILUTED
  Income from continuing operations                      $        0.90    $     0.86   $     0.90    $        0.73   $        0.76
  (Loss) Income from discontinued operations                         -          0.02        (0.03)            0.02            0.03
                                                         -------------    ----------   ----------    -------------   -------------
  Net income                                             $        0.90    $     0.88   $     0.87    $        0.75   $        0.79
                                                         =============    ==========   ==========    =============   =============

  Average common shares outstanding (millions)                   1,192         1,203        1,210            1,224           1,227
                                                         =============    ==========   ==========    =============   =============

Cash dividends declared per common share                 $        0.15    $     0.15   $     0.15    $        0.15   $        0.15
                                                         =============    ==========   ==========    =============   =============
</Table>

                       SELECTED STATISTICAL INFORMATION

<Table>
<Caption>
                                                                                      Quarters Ended
                                                         -------------------------------------------------------------------------
                                                         September 30,     June 30,     March 31,     December 31,    September 30,
                                                              2007           2007         2007           2006            2006
                                                         -------------    ----------   ----------    -------------   -------------
<S>                                                      <C>              <C>          <C>           <C>             <C>
Return on average equity (A)                                      38.2%         37.5%        36.6%            34.7%           33.6%
Common shares outstanding (millions)                             1,169         1,182        1,188            1,199           1,204
Book value per common share                              $        9.32    $     9.00   $     8.83    $        8.76   $        8.93
Shareholders' equity (billions)                          $        10.9    $     10.6   $     10.5    $        10.5   $        10.8
</Table>

(A) Computed on a trailing 12-month basis using net income over average total
shareholders' equity (including discontinued operations) as included in the
Consolidated Financial Statements prepared in accordance with GAAP.

                                      -9-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                         -------------------------------------------------------------------------
                                                         September 30,     June 30,     March 31,     December 31,    September 30,
                                                              2007           2007         2007           2006            2006
                                                         -------------    ----------   ----------    -------------   -------------
<S>                                                      <C>              <C>          <C>           <C>             <C>
Card billed business (A):
  United States                                          $       115.2    $    115.7   $    105.4    $       109.7   $       101.7
  Outside the United States                                       47.3          45.4         40.8             43.8            38.6
                                                         -------------    ----------   ----------    -------------   -------------
    Total                                                $       162.5    $    161.1   $    146.2    $       153.5   $       140.3
                                                         =============    ==========   ==========    =============   =============
Total cards-in-force (millions) (B):
  United States                                                   51.7          50.5         49.3             48.1            46.8
  Outside the United States                                       33.0          31.7         30.6             29.9            29.7
                                                         -------------    ----------   ----------    -------------   -------------
    Total                                                         84.7          82.2         79.9             78.0            76.5
                                                         =============    ==========   ==========    =============   =============
Basic cards-in-force (millions) (B):
  United States                                                   40.1          39.2         38.1             37.1            36.0
  Outside the United States                                       28.3          27.0         26.0             25.4            25.2
                                                         -------------    ----------   ----------    -------------   -------------
    Total                                                         68.4          66.2         64.1             62.5            61.2
                                                         =============    ==========   ==========    =============   =============

Average discount rate (C)                                         2.57%         2.57%        2.58%            2.55%           2.57%
Average basic cardmember spending (dollars) (D)          $       3,006    $    3,049   $    2,817    $       2,985   $       2,782
Average fee per card (dollars) (D)                       $          36    $       36   $       35    $          35   $          34
</Table>

(A) Card billed business includes activities (including cash advances) related
to proprietary cards, cards issued under network partnership agreements, and
certain insurance fees charged on proprietary cards.

(B) Total cards-in-force represents the number of cards that are issued and
outstanding. Proprietary basic consumer cards-in-force includes basic cards
issued to the primary account owner and does not include additional
supplemental cards issued on that account. Proprietary basic small business
and corporate cards-in-force include basic and supplemental cards issued to
employee cardmembers. Non-proprietary basic cards-in-force includes all cards
that are issued and outstanding under network partnership agreements.

(C) Computed as follows: Discount revenue from all card spending (proprietary
and Global Network Services) at merchants divided by all billed business
(proprietary and Global Network Services) generating discount revenue at such
merchants. Only merchants acquired by the Company are included in the
computation.

(D) Average basic cardmember spending and average fee per card are computed
from proprietary card activities only. Average fee per card is computed based
on net card fees excluding the amortization of deferred direct acquisition
costs.

                                     -10-
<Page>

(Preliminary)

                           AMERICAN EXPRESS COMPANY
                 SELECTED STATISTICAL INFORMATION (CONTINUED)

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                     Quarters Ended
                                                        ------------------------------------------------------------------------
                                                        September 30,    June 30,     March 31,    December 31,    September 30,
                                                            2007           2007         2007           2006            2006
                                                        -------------    ---------    ---------    ------------    -------------
<S>                                                     <C>              <C>          <C>          <C>             <C>
Worldwide cardmember receivables:
  Total receivables                                     $        38.5    $    38.4    $    36.5    $       37.4    $        35.0
  90 days past due as a % of total                                2.8%         2.7%         2.9%            2.8%             2.8%
  Loss reserves (millions):                             $         998    $     981    $     979    $        981    $         947
    % of receivables                                              2.6%         2.6%         2.7%            2.6%             2.7%
    % of 90 days past due                                          91%          95%          93%             95%              97%
  Net loss ratio as a % of charge volume                         0.26%        0.24%        0.23%           0.26%            0.26%

Worldwide cardmember lending - owned basis (A):
  Total loans                                           $        50.5    $    48.3    $    42.3    $       43.3    $        38.3
  30 days past due loans as a % of total                          3.0%         2.8%         3.0%            2.7%             2.8%
  Loss reserves (millions):
    Beginning balance                                   $       1,417    $   1,271    $   1,171    $      1,126    $       1,086
      Provision                                                   543          606          542             451              381
      Net write offs                                             (499)        (473)        (439)           (405)            (353)
      Other                                                         8           13           (3)             (1)              12
                                                        -------------    ---------    ---------    ------------    -------------
    Ending balance                                      $       1,469    $   1,417    $   1,271    $      1,171    $       1,126
                                                        =============    =========    =========    ============    =============
    % of loans                                                    2.9%         2.9%         3.0%            2.7%             2.9%
    % of past due                                                  97%         106%         100%             98%             106%
  Average loans                                         $        48.8    $    45.6    $    42.4    $       40.2    $        37.5
  Net write-off rate                                              4.1%         4.1%         4.1%            4.0%             3.8%
  Net finance revenue(B)/average loans                            9.3%         9.5%         9.4%            9.6%             9.5%

Worldwide cardmember lending - managed basis (C):
  Total loans                                           $        72.0    $    68.6    $    63.2    $       63.5    $        58.5
  30 days past due loans as a % of total                          2.8%         2.6%         2.8%            2.6%             2.7%
  Loss reserves (millions):
    Beginning balance                                   $       1,917    $   1,787    $   1,622    $      1,571    $       1,546
      Provision                                                   762          780          797             608              512
      Net write offs                                             (696)        (662)        (628)           (557)            (498)
      Other                                                         8           12           (4)              -               11
                                                        -------------    ---------    ---------    ------------    -------------
    Ending balance                                      $       1,991    $   1,917    $   1,787    $      1,622    $       1,571
                                                        =============    =========    =========    ============    =============
    % of loans                                                    2.8%         2.8%         2.8%            2.6%             2.7%
    % of past due                                                  97%         106%         100%             97%             101%
  Average loans                                         $        70.1    $    65.9    $    62.8    $       60.4    $        57.6
  Net write-off rate                                              4.0%         4.0%         4.0%            3.7%             3.5%
  Net finance revenue(B)/average loans                            9.4%         9.3%         9.5%            9.4%             9.4%
</Table>

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

(B) Computed on an annualized basis.

(C) 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. Refer to the information set forth under U.S. Card
Services Selected Financial Information on page 20 for further discussion of
the managed basis presentation.

                                     -11-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                                Quarters Ended
                                                                 September 30,
                                                              ------------------  Percentage
                                                                2007      2006     Inc/(Dec)
                                                              --------  --------  ----------
<S>                                                           <C>       <C>               <C>
Revenues
  Discount revenue, net card fees and other                   $  2,632  $  2,358          12%
  Cardmember lending finance revenue                             1,224       928          32
  Securitization income, net                                       392       384           2
                                                              --------  --------
      Total revenues                                             4,248     3,670          16
                                                              --------  --------
  Interest expense
    Cardmember lending                                             402       260          55
    Charge card and other                                          257       207          24
                                                              --------  --------
Revenues net of interest expense                                 3,589     3,203          12
                                                              --------  --------
Expenses
  Marketing, promotion, rewards and cardmember services          1,191     1,117           7
  Human resources and other operating expenses                     848       805           5
                                                              --------  --------
      Total                                                      2,039     1,922           6
                                                              --------  --------
Provisions for losses                                              638       442          44
                                                              --------  --------
Pretax segment income                                              912       839           9
Income tax provision                                               320       281          14
                                                              --------  --------
Segment income                                                $    592  $    558           6
                                                              ========  ========
</Table>

                                     -12-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                        SELECTED FINANCIAL INFORMATION
                          MANAGED BASIS PRESENTATION

(Millions)

<Table>
<Caption>
                                                                Quarters Ended
                                                                 September 30,
                                                              -------------------   Percentage
                                                                2007       2006      Inc/(Dec)
                                                              --------   --------   ----------
<S>                                                           <C>        <C>                <C>
INCOME STATEMENT DATA
  Discount revenue, net card fees and other:
    Reported for the period (GAAP)                            $  2,632   $  2,358           12%
    Securitization adjustments                                      67         51           31
                                                              --------   --------
    Managed discount revenue, net card fees and other         $  2,699   $  2,409           12
                                                              --------   --------

  Cardmember lending finance revenue:
    Reported for the period (GAAP)                            $  1,224   $    928           32
    Securitization adjustments                                     821        749           10
                                                              --------   --------
    Managed finance revenue                                   $  2,045   $  1,677           22
                                                              --------   --------

  Securitization income, net:
    Reported for the period (GAAP)                            $    392   $    384            2
    Securitization adjustments                                    (392)      (384)           2
                                                              --------   --------
    Managed securitization income, net                        $      -    $     -            -
                                                              --------   --------

  Cardmember lending interest expense:
    Reported for the period (GAAP)                            $    402   $    260           55
    Securitization adjustments                                     302        274           10
                                                              --------   --------
    Managed cardmember lending interest expense               $    704   $    534           32
                                                              --------   --------

  Provisions for losses:
    Reported for the period (GAAP)                            $    638   $    442           44
    Securitization adjustments                                     226        144           57
                                                              --------   --------
    Managed provisions for losses                             $    864   $    586           47
                                                              --------   --------
</Table>

For U.S. Card Services, 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. For the
managed basis presentation, revenue and expenses related to securitized
cardmember loans are reflected in other commissions and fees (included above
in discount revenue, net card fees and other), cardmember lending finance
revenue, cardmember lending interest expense, and provisions for losses. On a
managed basis, there is no securitization income, net, as the managed basis
presentation assumes no securitization transactions have occurred.


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 accurate picture 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.

                                     -13-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                 Quarters Ended
                                                  September 30,
                                               ---------------------   Percentage
                                                 2007        2006       Inc/(Dec)
                                               ---------   ---------   ----------
<S>                                            <C>         <C>                 <C>
Card billed business                           $    94.2   $    83.4           13%
Total cards-in-force (millions)                     42.9        39.9            8%
Basic cards-in-force (millions)                     31.8        29.5            8%
Average basic cardmember spending (dollars)    $   2,986   $   2,852            5%

U.S. Consumer Travel:
    Travel sales (millions)                    $     743   $     577           29%
    Travel commissions and fees/sales                8.5%        8.5%

Total segment assets                           $    79.0   $    66.6           19%
Segment capital                                $     4.5   $     4.5            -%
Return on segment capital (A)                       50.5%       46.6%

Cardmember receivables:
  Total receivables                            $    19.4   $    18.2            7%
  90 days past due as a % of total                   3.9%        3.5%
  Net loss ratio as a % of charge volume            0.34%       0.33%

Cardmember lending - owned basis (B):
  Total loans                                  $    40.0   $    29.3           37%
  30 days past due loans as a % of total             3.1%        2.7%
  Average loans                                $    38.6   $    28.6           35%
  Net write-off rate                                 3.7%        3.1%
  Net finance revenue(C)/average loans               8.5%        9.2%

Cardmember lending - managed basis (D):
  Total loans                                  $    61.5   $    49.5           24%
  30 days past due loans as a % of total             2.9%        2.6%
  Average loans                                $    60.0   $    48.7           23%
  Net write-off rate                                 3.7%        3.0%
  Net finance revenue(C)/average loans               8.9%        9.3%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

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

(C) Computed on an annualized basis.

(D) 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. Refer to the information set forth under U.S. Card
Services Selected Financial Information on page 20 for further discussion of
the managed basis presentation.

                                     -14-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                                                    Quarters Ended
                                                           ----------------------------------------------------------------
                                                           September 30,  June 30,   March 31,  December 31,  September 30,
                                                                2007        2007       2007         2006          2006
                                                           -------------  ---------  ---------  ------------  -------------
<S>                                                        <C>            <C>        <C>        <C>           <C>
Revenues
  Discount revenue, net card fees and other                $       2,632  $   2,642  $   2,414  $      2,481  $       2,358
  Cardmember lending finance revenue                               1,224      1,179      1,055         1,018            928
  Securitization income, net                                         392        332        457           347            384
                                                           -------------  ---------  ---------  ------------  -------------
      Total revenues                                               4,248      4,153      3,926         3,846          3,670
                                                           -------------  ---------  ---------  ------------  -------------
  Interest expense
    Cardmember lending                                               402        363        313           288            260
    Charge card and other                                            257        230        249           209            207
                                                           -------------  ---------  ---------  ------------  -------------
Revenues net of interest expense                                   3,589      3,560      3,364         3,349          3,203
                                                           -------------  ---------  ---------  ------------  -------------
Expenses
  Marketing, promotion, rewards and cardmember services            1,191      1,266        944         1,220          1,117
  Human resources and other operating expenses                       848        827        808           876            805
                                                           -------------  ---------  ---------  ------------  -------------
      Total                                                        2,039      2,093      1,752         2,096          1,922
                                                           -------------  ---------  ---------  ------------  -------------
Provisions for losses                                                638        640        581           530            442
                                                           -------------  ---------  ---------  ------------  -------------
Pretax segment income                                                912        827      1,031           723            839
Income tax provision                                                 320        247        387           250            281
                                                           -------------  ---------  ---------  ------------  -------------
Segment income                                             $         592  $     580  $     644  $        473  $         558
                                                           =============  =========  =========  ============  =============
</Table>

                                     -15-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                        SELECTED FINANCIAL INFORMATION
                          MANAGED BASIS PRESENTATION

(Millions)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                                2007         2007        2007          2006            2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
INCOME STATEMENT DATA
  Discount revenue, net card fees and other:
    Reported for the period (GAAP)                         $       2,632   $   2,642   $   2,414   $      2,481   $       2,358
    Securitization adjustments                                        67          80          87             56              51
                                                           -------------   ---------   ---------   ------------   -------------
    Managed discount revenue, net card fees and other      $       2,699   $   2,722   $   2,501   $      2,537   $       2,409
                                                           -------------   ---------   ---------   ------------   -------------

  Cardmember lending finance revenue:
    Reported for the period (GAAP)                         $       1,224   $   1,179   $   1,055   $      1,018   $         928
    Securitization adjustments                                       821         724         757            729             749
                                                           -------------   ---------   ---------   ------------   -------------
    Managed finance revenue                                $       2,045   $   1,903   $   1,812   $      1,747   $       1,677
                                                           -------------   ---------   ---------   ------------   -------------

  Securitization income, net:
    Reported for the period (GAAP)                         $         392   $     332   $     457   $        347   $         384
    Securitization adjustments                                      (392)       (332)       (457)          (347)           (384)
                                                           -------------   ---------   ---------   ------------   -------------
    Managed securitization income, net                     $           -   $       -   $       -   $          -   $           -
                                                           -------------   ---------   ---------   ------------   -------------

  Cardmember lending interest expense:
    Reported for the period (GAAP)                         $         402   $     363   $     313   $        288   $         260
    Securitization adjustments                                       302         274         273            279             274
                                                           -------------   ---------   ---------   ------------   -------------
    Managed cardmember lending interest expense            $         704   $     637   $     586   $        567   $         534
                                                           -------------   ---------   ---------   ------------   -------------

  Provisions for losses:
    Reported for the period (GAAP)                         $         638   $     640   $     581   $        530   $         442
    Securitization adjustments                                       226         177         205            153             144
                                                           -------------   ---------   ---------   ------------   -------------
    Managed provisions for losses                          $         864   $     817   $     786   $        683   $         586
                                                           -------------   ---------   ---------   ------------   -------------
</Table>

See page 20 for discussion of managed basis presentation.

                                     -16-
<Page>

(Preliminary)

                              U.S. CARD SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                                2007         2007        2007          2006            2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Card billed business                                       $        94.2   $    94.6   $    85.2   $       90.8   $        83.4
Total cards-in-force (millions)                                     42.9        42.1        41.5           40.7            39.9
Basic cards-in-force (millions)                                     31.8        31.2        30.7           30.1            29.5
Average basic cardmember spending (dollars)                $       2,986   $   3,054   $   2,801   $      3,044   $       2,852

U.S. Consumer Travel:
    Travel sales                                           $         0.7   $     0.8   $     0.7   $        0.6   $         0.6
    Travel commissions and fees/sales                                8.5%        8.0%        7.5%           8.2%            8.5%

Total segment assets                                       $        79.0   $    76.1   $    68.4   $       71.0   $        66.6
Segment capital                                            $         4.5   $     4.5   $     4.5   $        4.7   $         4.5
Return on segment capital (A)                                       50.5%       49.9%       50.2%          47.4%           46.6%

Cardmember receivables:
  Total receivables                                        $        19.4   $    19.8   $    19.0   $       20.6   $        18.2
  90 days past due as a % of total                                   3.9%        3.6%        3.8%           3.3%            3.5%
  Net loss ratio as a % of charge volume                            0.34%       0.30%       0.25%          0.32%           0.33%

Cardmember lending - owned basis (B):
  Total loans                                              $        40.0   $    38.3   $    33.0   $       33.6   $        29.3
  30 days past due loans as a % of total                             3.1%        2.7%        2.9%           2.7%            2.7%
  Average loans                                            $        38.6   $    35.9   $    33.1   $       30.9   $        28.6
  Net write-off rate                                                 3.7%        3.7%        3.7%           3.5%            3.1%
  Net finance revenue(C)/average loans                               8.5%        9.1%        9.1%           9.4%            9.2%

Cardmember lending - managed basis (D):
  Total loans                                              $        61.5   $    58.6   $    53.9   $       53.8   $        49.5
  30 days past due loans as a % of total                             2.9%        2.6%        2.8%           2.6%            2.6%
  Average loans                                            $        60.0   $    56.3   $    53.4   $       51.1   $        48.7
  Net write-off rate                                                 3.7%        3.7%        3.7%           3.3%            3.0%
  Net finance revenue(C)/average loans                               8.9%        9.0%        9.3%           9.2%            9.3%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

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

(C) Computed on an annualized basis.

(D) 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. Refer to the information set forth under U.S. Card
Services Selected Financial Information on page 20 for further discussion of
the managed basis presentation.

                                     -17-
<Page>

(Preliminary)

                          INTERNATIONAL CARD SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                              Quarters Ended
                                                               September 30,
                                                           ---------------------  Percentage
                                                             2007        2006      Inc/(Dec)
                                                           ---------   ---------  ----------
<S>                                                        <C>         <C>                <C>
Revenues
  Discount revenue, net card fees and other                $     953   $     819          16%
  Cardmember lending finance revenue                             353         286          23
                                                           ---------   ---------
      Total revenues                                           1,306       1,105          18
                                                           ---------   ---------
  Interest expense
    Cardmember lending                                           126          99          27
    Charge card and other                                         66          54          22
                                                           ---------   ---------
Revenues net of interest expense                               1,114         952          17
                                                           ---------   ---------
Expenses
  Marketing, promotion, rewards and cardmember services          354         247          43
  Human resources and other operating expenses                   453         387          17
                                                           ---------   ---------
      Total                                                      807         634          27
                                                           ---------   ---------
Provisions for losses                                            197         197           -
                                                           ---------   ---------
Pretax segment income                                            110         121          (9)
Income tax (benefit) provision                                   (30)         15           #
                                                           ---------   ---------
Segment income                                             $     140   $     106          32
                                                           =========   =========
</Table>

# - Denotes variance of more than 100%.

                                     -18-
<Page>

(Preliminary)

                          INTERNATIONAL CARD SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                              Quarters Ended
                                                               September 30,
                                                           ---------------------   Percentage
                                                             2007        2006       Inc/(Dec)
                                                           ---------   ---------   ----------
<S>                                                        <C>         <C>                 <C>
Card billed business                                       $    24.7   $    21.4           15%
Total cards-in-force (millions)                                 15.8        15.5            2%
Basic cards-in-force (millions)                                 11.2        11.1            1%
Average basic cardmember spending (dollars)                $   2,209   $   1,908           16%

International Consumer Travel:
  Travel sales (millions)                                  $     283   $     247           15%
  Travel commissions and fees/sales                              8.8%        8.3%

Total segment assets                                       $    20.8   $    18.6           12%
Segment capital (millions)                                 $   1,983   $   1,936            2%
Return on segment capital (A)                                   24.4%       16.8%

Cardmember receivables:
  Total receivables                                        $     6.1   $     5.5           11%
  90 days past due as a % of total                               1.8%        2.6%
  Net loss ratio as a % of charge volume                        0.26%       0.27%

Cardmember lending:
  Total loans                                              $    10.5   $     9.0           17%
  30 days past due loans as a % of total                         2.7%        3.1%
  Average loans                                            $    10.2   $     8.9           15%
  Net write-off rate                                             5.5%        5.9%
  Net finance revenue(B)/average loans                           8.9%        8.3%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

(B) Computed on an annualized basis.

                                     -19-
<Page>

(Preliminary)

                          INTERNATIONAL CARD SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                               2007          2007        2007          2006           2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Revenues
  Discount revenue, net card fees and other                $         953   $     900   $     828   $        884   $         819
  Cardmember lending finance revenue                                 353         333         310            304             286
                                                           -------------   ---------   ---------   ------------   -------------
      Total revenues                                               1,306       1,233       1,138          1,188           1,105
                                                           -------------   ---------   ---------   ------------   -------------
  Interest expense
    Cardmember lending                                               126         120         109            105              99
    Charge card and other                                             66          64          50             57              54
                                                           -------------   ---------   ---------   ------------   -------------
Revenues net of interest expense                                   1,114       1,049         979          1,026             952
                                                           -------------   ---------   ---------   ------------   -------------
Expenses
  Marketing, promotion, rewards and cardmember services              354         293         281            280             247
  Human resources and other operating expenses                       453         453         418            460             387
                                                           -------------   ---------   ---------   ------------   -------------
      Total                                                          807         746         699            740             634
                                                           -------------   ---------   ---------   ------------   -------------
Provisions for losses                                                197         211         184            210             197
                                                           -------------   ---------   ---------   ------------   -------------
Pretax segment income                                                110          92          96             76             121
Income tax (benefit) provision                                       (30)        (25)         (6)           (23)             15
                                                           -------------   ---------   ---------   ------------   -------------
Segment income                                             $         140   $     117   $     102   $         99   $         106
                                                           =============   =========   =========   ============   =============
</Table>

                                     -20-
<Page>

(Preliminary)

                          INTERNATIONAL CARD SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                               2007          2007         2007         2006           2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Card billed business                                       $        24.7   $    23.6   $    21.5   $       23.6   $        21.4
Total cards-in-force (millions)                                     15.8        15.7        15.7           15.6            15.5
Basic cards-in-force (millions)                                     11.2        11.2        11.2           11.2            11.1
Average basic cardmember spending (dollars)                $       2,209   $   2,123   $   1,926   $      2,106   $       1,908

International Consumer Travel:
  Travel sales                                             $         0.3   $     0.3   $     0.2   $        0.3   $         0.2
  Travel commissions and fees/sales                                  8.8%        8.6%        8.4%           8.6%            8.3%

Total segment assets                                       $        20.8   $    19.7   $    18.5   $       18.9   $        18.6
Segment capital                                            $         2.0   $     1.9   $     1.8   $        1.7   $         1.9
Return on segment capital (A)                                       24.4%       22.8%       20.9%          17.9%           16.8%

Cardmember receivables:
  Total receivables                                        $         6.1   $     5.9   $     5.4   $        6.0   $         5.5
  90 days past due as a % of total                                   1.8%        2.0%        2.4%           2.3%            2.6%
  Net loss ratio as a % of charge volume                            0.26%       0.28%       0.29%          0.30%           0.27%

Cardmember lending:
  Total loans                                              $        10.5   $    10.0   $     9.3   $        9.7   $         9.0
  30 days past due loans as a % of total                             2.7%        2.9%        3.1%           2.9%            3.1%
  Average loans                                            $        10.2   $     9.7   $     9.4   $        9.3   $         8.9
  Net write-off rate                                                 5.5%        6.0%        5.7%           5.7%            5.9%
  Net finance revenue(B)/average loans                               8.9%        8.9%        8.7%           8.5%            8.3%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

(B) Computed on an annualized basis.

                                     -21-
<Page>

(Preliminary)

                          GLOBAL COMMERCIAL SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                             Quarters Ended
                                                              September 30,
                                                           --------------------  Percentage
                                                             2007       2006      Inc/(Dec)
                                                           ---------  ---------  ----------
<S>                                                        <C>        <C>                <C>
Revenues
  Discount revenue, net card fees and other                $   1,180  $   1,045          13%
                                                           ---------  ---------
  Interest expense
    Charge card and other                                        116         96          21
                                                           ---------  ---------
Revenues net of interest expense                               1,064        949          12
                                                           ---------  ---------
Expenses
  Marketing, promotion, rewards and cardmember services           86         80           8
  Human resources and other operating expenses                   749        678          10
                                                           ---------  ---------
      Total                                                      835        758          10
                                                           ---------  ---------
Provisions for losses                                             42         34          24
                                                           ---------  ---------
Pretax segment income                                            187        157          19
Income tax provision                                              52         52           -
                                                           ---------  ---------
Segment income                                             $     135  $     105          29
                                                           =========  =========
</Table>

                                     -22-
<Page>

(Preliminary)

                          GLOBAL COMMERCIAL SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                              Quarters Ended
                                                               September 30,
                                                           ---------------------   Percentage
                                                             2007        2006      Inc/(Dec)
                                                           ---------   ---------   ----------
<S>                                                        <C>         <C>                 <C>
Card billed business                                       $    29.9   $    26.2           14%
Total cards-in-force (millions)                                  6.8         6.6            3%
Basic cards-in-force (millions)                                  6.8         6.6            3%
Average basic cardmember spending (dollars)                $   4,389   $   3,974           10%

Global Corporate Travel:
  Travel sales                                             $     4.9   $     4.3           14%
  Travel commissions and fees/sales                              8.0%        8.3%

Total segment assets                                       $    21.8   $    18.6           17%
Segment capital (millions)                                 $   2,230   $   1,997           12%
Return on segment capital (A)                                   26.2%       27.6%

Cardmember receivables:
  Total receivables                                        $    12.5   $    10.9           15%
  90 days past due as a % of total                               1.6%        1.7%
  Net loss ratio as a % of charge volume                        0.11%       0.09%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

                                     -23-
<Page>

(Preliminary)

                          GLOBAL COMMERCIAL SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                                                    Quarters Ended
                                                           ----------------------------------------------------------------
                                                           September 30,  June 30,   March 31,  December 31,  September 30,
                                                               2007         2007        2007        2006          2006
                                                           -------------  ---------  ---------  ------------  -------------
<S>                                                        <C>            <C>        <C>        <C>           <C>
Revenues
  Discount revenue, net card fees and other                $       1,180  $   1,210  $   1,098  $      1,089  $       1,045
                                                           -------------  ---------  ---------  ------------  -------------
  Interest expense
    Charge card and other                                            116        127        104           107             96
                                                           -------------  ---------  ---------  ------------  -------------
Revenues net of interest expense                                   1,064      1,083        994           982            949
                                                           -------------  ---------  ---------  ------------  -------------
Expenses
  Marketing, promotion, rewards and cardmember services               86         83         83            63             80
  Human resources and other operating expenses                       749        746        686           721            678
                                                           -------------  ---------  ---------  ------------  -------------
      Total                                                          835        829        769           784            758
                                                           -------------  ---------  ---------  ------------  -------------
Provisions for losses                                                 42         36         30            31             34
                                                           -------------  ---------  ---------  ------------  -------------
Pretax segment income                                                187        218        195           167            157
Income tax provision                                                  52         56         66            50             52
                                                           -------------  ---------  ---------  ------------  -------------
Segment income                                             $         135  $     162  $     129  $        117  $         105
                                                           =============  =========  =========  ============  =============
</Table>

                                     -24-
<Page>

(Preliminary)

                          GLOBAL COMMERCIAL SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                               2007          2007         2007         2006            2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Card billed business                                       $        29.9   $    31.0   $    29.0   $       27.6   $        26.2
Total cards-in-force (millions)                                      6.8         6.8         6.7            6.7             6.6
Basic cards-in-force (millions)                                      6.8         6.8         6.7            6.7             6.6
Average basic cardmember spending (dollars)                $       4,389   $   4,583   $   4,343   $      4,170   $       3,974

Global Corporate Travel:
  Travel sales                                             $         4.9   $     5.3   $     4.8   $        4.6   $         4.3
  Travel commissions and fees/sales                                  8.0%        7.5%        7.6%           8.1%            8.3%

Total segment assets                                       $        21.8   $    21.7   $    20.5   $       18.9   $        18.6
Segment capital                                            $         2.2   $     2.1   $     2.1   $        1.9   $         2.0
Return on segment capital (A)                                       26.2%       25.3%       25.7%          25.7%           27.6%

Cardmember receivables:
  Total receivables                                        $        12.5   $    12.2   $    11.7   $       10.3   $        10.9
  90 days past due as a % of total                                   1.6%        1.6%        1.6%           1.9%            1.7%
  Net loss ratio as a % of charge volume                            0.11%       0.10%       0.10%          0.09%           0.09%
</Table>

(A) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

                                     -25-
<Page>

(Preliminary)

                      GLOBAL NETWORK & MERCHANT SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                              Quarters Ended
                                                               September 30,
                                                           ---------------------   Percentage
                                                             2007        2006      Inc/(Dec)
                                                           ---------   ---------   ----------
<S>                                                        <C>         <C>                 <C>
Revenues
  Discount revenue, fees and other                         $     902   $     773           17%
                                                           ---------   ---------
  Interest expense
    Cardmember lending                                           (33)        (25)          32
    Other                                                        (45)        (43)           5
                                                           ---------   ---------
Revenues net of interest expense                                 980         841           17
                                                           ---------   ---------
Expenses
  Marketing and promotion                                        151         118           28
  Human resources and other operating expenses                   417         390            7
                                                           ---------   ---------
      Total                                                      568         508           12
                                                           ---------   ---------
Provisions for losses                                             23          19           21
                                                           ---------   ---------
Pretax segment income                                            389         314           24
Income tax provision                                             123         102           21
                                                           ---------   ---------
Segment income                                             $     266   $     212           25
                                                           =========   =========
</Table>

                                     -26-
<Page>

(Preliminary)

                      GLOBAL NETWORK & MERCHANT SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                              Quarters Ended
                                                               September 30,
                                                           ---------------------   Percentage
                                                             2007        2006      Inc/(Dec)
                                                           ---------   ---------   ----------
<S>                                                        <C>         <C>                <C>
Global Card billed business (A)                            $   162.5   $   140.3           16%

Global Network & Merchant Services:
  Total segment assets                                     $     4.6   $     5.1          (10)%
  Segment capital (millions)                               $   1,125   $   1,262          (11)%
  Return on segment capital (B)                                 84.7%       57.9%

Global Network Services:
  Card billed business                                     $    14.1   $     9.7           45%
  Total cards-in-force (millions)                               19.2        14.5           32%
</Table>

(A) Global Card billed business includes activities (including cash advances)
related to proprietary cards, cards issued under network partnership
agreements, and certain insurance fees charged on proprietary cards.

(B) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

                                     -27-
<Page>

(Preliminary)

                      GLOBAL NETWORK & MERCHANT SERVICES
                        SELECTED INCOME STATEMENT DATA

(Millions)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                               2007          2007         2007         2006            2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Revenues
  Discount revenue, fees and other                         $         902   $     887   $     800   $        840   $         773
                                                           -------------   ---------   ---------   ------------   -------------
  Interest expense
    Cardmember lending                                               (33)        (31)        (28)           (29)            (25)
    Other                                                            (45)        (48)        (49)           (47)            (43)
                                                           -------------   ---------   ---------   ------------   -------------
Revenues net of interest expense                                     980         966         877            916             841
                                                           -------------   ---------   ---------   ------------   -------------
Expenses
  Marketing and promotion                                            151         150         129            125             118
  Human resources and other operating expenses                       417         389         393            448             390
                                                           -------------   ---------   ---------   ------------   -------------
      Total                                                          568         539         522            573             508
                                                           -------------   ---------   ---------   ------------   -------------
Provisions for losses                                                 23           9         (19)            46              19
                                                           -------------   ---------   ---------   ------------   -------------
Pretax segment income                                                389         418         374            297             314
Income tax provision                                                 123         152         138             96             102
                                                           -------------   ---------   ---------   ------------   -------------
Segment income                                             $         266   $     266   $     236   $        201   $         212
                                                           =============   =========   =========   ============   =============
</Table>

                                     -28-
<Page>

(Preliminary)

                      GLOBAL NETWORK & MERCHANT SERVICES
                       SELECTED STATISTICAL INFORMATION

(Billions, except percentages and where indicated)

<Table>
<Caption>
                                                                                      Quarters Ended
                                                           --------------------------------------------------------------------
                                                           September 30,   June 30,    March 31,   December 31,   September 30,
                                                               2007          2007         2007         2006            2006
                                                           -------------   ---------   ---------   ------------   -------------
<S>                                                        <C>             <C>         <C>         <C>            <C>
Global Card billed business (A)                            $       162.5   $   161.1   $   146.2   $      153.5   $       140.3

Global Network & Merchant Services:
  Total segment assets                                     $         4.6   $     4.3   $     4.5   $        4.4   $         5.1
  Segment capital                                          $         1.1   $     1.1   $     1.0   $        1.3   $         1.3
  Return on segment capital (B)                                     84.7%       78.0%       69.2%          60.3%           57.9%

Global Network Services:
  Card billed business                                     $        14.1   $    12.3   $    10.5   $       11.5   $         9.7
  Total cards-in-force (millions)                                   19.2        17.6        16.0           15.0            14.5
</Table>

(A) Global Card billed business includes activities (including cash advances)
related to proprietary cards, cards issued under network partnership
agreements, and certain insurance fees charged on proprietary cards.

(B) Computed on a trailing 12-month basis using segment income and equity
capital allocated to segments based upon specific business operational needs,
risk measures, and regulatory capital requirements.

                                     -29-

                                                                    EXHIBIT 99.3

                      [LOGO OF AMERICAN EXPRESS COMPANY]


                                     2007
                                 THIRD QUARTER
                              EARNINGS SUPPLEMENT










        THE ENCLOSED SUMMARY SHOULD BE READ IN CONJUNCTION WITH THE TEXT AND
        STATISTICAL TABLES INCLUDED IN AMERICAN EXPRESS COMPANY'S (THE
        "COMPANY" OR "AXP") THIRD QUARTER EARNINGS RELEASE.

       -------------------------------------------------------------------------
       THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS THAT ARE
       SUBJECT TO RISKS AND UNCERTAINTIES AND SPEAK ONLY AS OF THE DATE ON
       WHICH THEY ARE MADE. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS
       TO DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS, INCLUDING
       THE COMPANY'S FINANCIAL AND OTHER GOALS, ARE SET FORTH ON PAGES 62-63
       IN THE COMPANY'S 2006 ANNUAL REPORT TO SHAREHOLDERS AND IN ITS 2006
       ANNUAL REPORT ON FORM 10-K, AND OTHER REPORTS, ON FILE WITH THE
       SECURITIES AND EXCHANGE COMMISSION.
       -------------------------------------------------------------------------



AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW HIGHLIGHTS FINANCIAL RESULTS o Third quarter diluted EPS from continuing operations of $0.90 increased 18% versus $0.76 last year. Revenues net of interest expense rose 11%. For the trailing 12 months, return on equity (ROE) was 38%. - 3Q '07 Income from continuing operations included: -- An $81MM ($41MM after-tax) charge related to mark-to-market adjustments and sales within the American Express International Deposit Company ("AEIDC") investment portfolio resulting from the announced sale during the quarter of American Express Bank, Ltd. ("AEB") to Standard Chartered PLC ("Standard Chartered"), as referenced further on page 2; and -- A $75MM tax benefit, primarily related to the resolution of prior years' tax items. - 3Q '06 Income from continuing operations included a $33MM ($24MM after-tax) gain on the sales of card-related operations in Malaysia and Indonesia. - 3Q '07 and 3Q '06 Income from continuing operations included $10MM ($7MM after-tax) and $11MM ($7MM after-tax), respectively, of reengineering costs related to restructuring efforts primarily within our corporate travel business. - The DISCONTINUED OPERATIONS line in the Consolidated Financial Statements contains the results, assets and liabilities related to various business sales. In addition to AEB, referenced above, discontinued operations also reflects the results from the international banking operations in Brazil, sold in 2Q'06, Tax and Business Services ("TBS"), sold in 3Q '05, and Ameriprise Financial, Inc. (formerly American Express Financial Advisors), for which the distribution of all outstanding shares was made on September 30, 2005. -- 3Q '07 results reflected $7MM of losses from discontinued operations, related to AEB's results which include substantial compliance-related remediation costs, as well as the TBS business, versus $33MM of income last year. -- Including discontinued operations, diluted EPS on a net income basis of $0.90 increased 14% versus last year. BUSINESS METRICS o Compared with the third quarter of 2006: - Worldwide billed business of $162.5B increased 16% on continued strong growth within both the proprietary and network businesses. A comparatively weaker U.S. dollar resulted in a 2% benefit within the reported worldwide growth rate. - Worldwide total cards in force of 84.7MM increased 11%, up 8.2MM from last year and 2.5MM during 3Q '07, as proprietary and network card growth remained strong. - Worldwide average spending per proprietary basic card in force increased 8% versus last year despite the suppressing effect of substantial card additions over the past few years. - Worldwide lending balances of $50.5B on an owned basis increased 32%; on a managed basis, worldwide lending balances of $72.0B were up 23%. - Underlying card credit quality continued to be well controlled and reserve coverage ratios remained strong. CAPITAL RETURNED TO SHAREHOLDERS o Including share repurchases and dividends, during 3Q '07 and the nine months to-date we returned 84% and 85%, respectively, of capital generated to shareholders. On a cumulative basis, since 1994, we have returned 70% of capital generated. - SHARE REPURCHASES: During both 3Q '07 and 2Q '07, 15MM shares were repurchased versus 16MM shares in 3Q '06. Since the inception of repurchase programs in December 1994, 652MM shares have been acquired under cumulative Board authorizations to repurchase up to 770MM shares, including purchases made under agreements with third parties. <TABLE> <CAPTION> Millions of Shares ----------------------------------------------- <S> <C> <C> <C> - ACTUAL SHARE ACTIVITY: 3Q '07 2Q '07 3Q '06 ------ ------ ------ Shares outstanding - beginning of period 1,182 1,188 1,216 Repurchase of common shares (15) (15) (16) Employee benefit plans, compensation and other 2 9 4 ------ ------ ------ Shares outstanding - end of period 1,169 1,182 1,204 ===== ===== ===== </TABLE> -1-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW HIGHLIGHTS ADDITIONAL ITEMS OF NOTE o Marketing, promotion, rewards and cardmember services expenses increased 14% versus 3Q '06, reflecting higher rewards costs in 3Q '07 and increased marketing and promotion expenses. The higher rewards costs continued to reflect volume growth, a higher redemption rate, and strong cardmember program participation. Marketing expenses continued to reflect card acquisition, brand and loyalty oriented programs, with an increased emphasis on our non-U.S. activities. o Total interest expense increased 39%, reflecting increased debt funding levels in support of growth in cardmember receivable and lending balances and a higher effective cost of funds. o Total provisions for losses and benefits increased 25% versus 3Q '06, reflecting growth in business volumes and the loan portfolio, as well as increased write-off and delinquency rates within the U.S. versus last year, which have risen from the unusually low levels during 2006 following the enactment of the October 2005 bankruptcy legislation. o The 11% increase in human resources expense in 3Q '07 reflects the impact of a higher level of employees, merit increases and larger benefit costs. - Compared with last year, the total employee count of 65,100 increased by 3,800 employees or 6%; compared with last quarter, the employee count increased by 1,200 employees or 2%. The increases primarily reflect employee additions related to customer service volumes and initiatives and the acquisition of Harbor Payments, Inc. in 4Q '06 and Farrington American Express Travel Services Ltd. ("FAE Travel") in 3Q '07. o During 3Q '07, the Company announced that it entered into an agreement to sell its international banking subsidiary, AEB, to Standard Chartered, reflecting the Company's strategic focus on the high-growth, high-return payments businesses that have driven its recent performance. The approximate value of the transaction is $1.1B. The sale is subject to certain regulatory approvals and is expected to be completed in 1Q '08. Standard Chartered will pay the Company an amount equal to the net asset value of the AEB businesses that are being sold at the closing date plus $300MM. At September 30, 2007, this would have amounted to approximately $825MM. The Company also expects to realize an additional amount representing the net asset value of AEIDC, a subsidiary which issues investment certificates to AEB customers. The contracted sale of AEIDC will occur through a put/call agreement. As of September 30, 2007, the net asset value of that business was $262MM. This value is expected to be realized through dividends from the subsidiary to American Express and by a subsequent payment from Standard Chartered when the business is transferred to them eighteen months after the completion of the sale of AEB. In aggregate, the transaction is expected to have an approximate break-even impact on the Company's earnings, although separate components will be recognized in different periods, such as the AEIDC charge referenced above. As a result of the agreement, beginning with 3Q '07, and for all prior periods, AEB results, assets and liabilities have been removed from the Corporate & Other segment and reported within Discontinued Operations on the Company's Consolidated Financial Statements. AEIDC will continue to be reflected in continuing operations within the Corporate & Other segment until one year before the anticipated close of this portion of the transaction. Assuming completion of the AEB sale in 1Q '08, AEIDC will be reported in discontinued operations beginning in 3Q '08. The previously mentioned $81MM ($41MM) after-tax charge related to AEIDC is included in the 3Q '07 results from continuing operations within the "Other revenues" line. The charge relates to the AEIDC investment portfolio and results from the AEB sale agreement's impact on the holding period for the investments. It principally reflects the reduction in value within the AEIDC investment portfolio attributable to market interest rate movements since the date that the investment securities were purchased. The reclassification of the portfolio from its previous available-for-sale status to its current trading status requires the Company to report changes in the market value of AEIDC's investment portfolio within the income statement until AEIDC is sold. The Company expects to report a net gain in subsequent quarters from the disposition of AEB and other related activities. o Within the Consolidated Statements of Income, the Company has reclassified certain prior period amounts from professional services and occupancy and equipment expense to human resources and other expense, in order to conform to its current presentation. This reclassification has no impact on total expenses, pre-tax income, or net income. Additionally, the historical trends of these financial statement line items remain consistent after the reclassification. REVISED SEGMENT AND STATEMENTS OF INCOME PRESENTATION o The Company instituted organizational changes effective July 1, 2007 which reflect a reorganization of the Company into two distinct customer-focused groups: the Global Consumer Group and the Global Business-to-Business Group. The impact of these changes on the Company's reportable operating segment disclosures is as follows: - The Company continues to report the U.S. Card Services ("USCS") segment and the Global Network & Merchant Services ("GNMS") segment consistent with previous reporting. - The previously reported International Card & Global Commercial Services segment is now reported as two separate segments: the International Card Services ("ICS") segment and the Global Commercial Services ("GCS") segment. - The U.S. Card Services and International Card Services segments are aligned with the Global Consumer Group, and the Global Network & Merchant Services and Global Commercial Services segments are aligned with the Global Business-to-Business Group. o In addition, as described in the Form 8-K filed with the SEC on March 30, 2007, beginning with 1Q '07, the Company revised the presentation of its Consolidated Statements of Income. The revised Consolidated Statements of Income include the separate presentation of certain interest income and interest expense amounts which previously had been reported on a net basis, and the separate presentation of the provisions for losses and benefits from expenses. While these revisions impact the presentation of revenues and expenses in the Company's Consolidated Statements of Income, -2-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW HIGHLIGHTS they have no impact on the Company's previously reported consolidated pretax income, income taxes, net income, total assets, total liabilities, or total shareholders' equity. o In addition, in 1Q '07 the Travelers Cheque and Prepaid Services ("TCPS") business, previously included in the USCS segment, was moved to the Corporate & Other segment. o In conjunction with the previously discussed AEB sale, the Company further revised its presentation of its Consolidated Statements of Income. Prior to the sale, the Consolidated Statements of Income reflected interest income and expense from AEB's international banking activities on the "International banking interest income" and "International banking interest expense" lines. The revised presentation contained herein no longer includes these lines, as the majority of the revenues and expenses from international banking have been moved to Discontinued Operations. o "Total revenues" and "Revenues net of interest expense" are presented separately within the revised Consolidated Statements of Income presentation. "Revenues net of interest expense" is now the measure for the Company's long-term revenue growth rate target. This target (of at least 8 percent growth on average and over time) has not been changed as a result of the revisions to the presentation of the Consolidated Statements of Income. o The revised consolidated presentation now includes the following: - Gross cardmember lending finance charge revenue is presented in the line entitled "Cardmember lending finance revenue" within the new "Interest income" section of the Consolidated Statements of Income, and the related gross interest expense is presented in the line entitled "Cardmember lending" within the new "Interest expense" section of the Consolidated Statements of Income. These amounts were previously presented on a net basis as "Cardmember lending finance charge revenue, net of interest" within the "Net revenues" section. - Gross investment and other interest income are presented in the line entitled "Other (including investment certificates)" within the new "Interest income" section. These amounts were previously presented on a net basis as "Other investment and interest income, net of interest" within the "Net revenues" section. - Other interest expense is presented in the line entitled "Charge card and other" within the new "Interest expense" section, and certain other interest income is presented in the line entitled "Other (including investment certificates)" within the new "Interest income" section. These amounts were previously reported on a net basis in "Interest" within the "Expenses" section. - "Provisions for losses and benefits" is presented in a new separate section. These amounts were previously reported in the "Provisions for losses and benefits" lines within the "Expenses" section. The line under Provisions for Losses and Benefits that used to be called "International banking and other (including investment certificates)" is now called "Other (including investment certificates)." - Certain other amounts were revised to conform to the method of presentation or calculation that is being used in 2007. o Corresponding revisions to the Selected Income Statement Data presentation regarding the Company's reportable operating segments were also made. o Separately, in 1Q '07 the Company revised the method of reporting certain credit statistics related to the charge card business to better align these metrics with the way the Company manages credit risk as well as to align such credit statistics with the method used for reporting the Company's lending activities. Historically, the credit statistics for the charge card business have been presented using the portion of the account balance that was 90 days past due or more. However, the Company's practices for managing credit risk and establishing reserves for uncollectible amounts consider the entire amounts of customer accounts for those accounts which have any portion that is past due by 90 days or more, and thus certain statistics have been revised to reflect this. Finally, the calculation of net finance revenue divided by average loans for both consolidated reporting and the ICS segment has been corrected for a computational error. This correction has a minimal impact on the historic trends for this statistical information. EXPANDED PRODUCTS AND SERVICES o During the quarter, American Express continued to invest in growth opportunities through expanded products and services. In our proprietary issuing and network business we: - Announced two new agent bank agreements with Harris and BankAtlantic, allowing the distribution of our OPEN from American Express(R) small business charge and credit products in Chicago and Florida, respectively. In both cases, American Express will serve as the card issuer and will partner with each institution to develop joint marketing efforts for each region. - Introduced The Plum Card(SM) from OPEN from American Express(R), a new trade terms product which responds to small business owners' need to better manage cash flow and free working capital by providing them with the option to defer payment or receive early pay discounts for purchases made on the Card. - Added two new luxury fashion brands, Gucci and Salvatore Ferragamo, to First Collection(SM), a private portfolio of premium partners and rewards available exclusively to Platinum Card(R) and Centurion(R) Card members enrolled in the Membership Rewards First program. - Expanded merchant acceptance of the ExpressPay from American Express(R) contactless payment product to include Office Depot's 1,100 nationwide locations, and Braum's Ice Cream and Dairy Stores's 276 retail stores in Oklahoma, Kansas, Texas, Missouri and Arkansas. - Announced the acquisition by American Express Business Travel of the remaining 63% share in the joint venture, Farrington American Express Travel Services Ltd., a leading Hong Kong travel services provider. Fully integrated, the acquisition will result in business travel volume from the customer base across Greater China, including Beijing, Shanghai, Guangzhou, Hong Kong and Taiwan of nearly $1B this year. -3-

- Unveiled a new Web-based management information data reporting solution, American Express AXIS @ Work, from American Express Business Travel, presenting corporate travel purchasers and managers with centralized, online access to data resulting from their firms' business expenditures. Additionally, American Express also introduced a new specialty area dedicated to management information within its Advisory Services group. - Launched Gold Card Destinations, a collection of travel benefits available on all consumer American Express(R) Gold Charge Cards, enabling Cardmembers to enhance their vacation experiences with special amenities on any trip from American Express Gold Card Destinations travel partners, as well as provide Cardmembers access to exclusive travel and entertainment packages on a dedicated Gold Card Destinations web site. - Signed three additional travel agencies in New York, Ohio and Utah to the American Express Travel U.S. Representative Network. - Expanded the American Express Airport Club Access Program for all consumer and small business Platinum and Centurion Cards to include access to American Airlines' 44 Admirals Club(R) lounges worldwide. - Became an Official Patron of The Professional Golfers' Association (PGA) of America, allowing the Company to provide a unique set of golf benefits to Cardmembers year-round, including access to premier championship experiences and exclusive golf opportunities. - Added various new celebrity participants, such as Beyonce Knowles and Tina Fey, to the Company's "Are You a Cardmember?(SM)" brand campaign, designed to showcase the value of membership and its array of special benefits and services. - Awarded $2MM to the winner of The Members Project online initiative, U.S. Fund for UNICEF. The funds will be used to provide millions of children in the developing world with safe drinking water. This initiative was part of American Express' "Are You a Cardmember" campaign which also highlights the value of being part of the American Express community. In our Global Network Services ("GNS") business we: - Announced a new card issuing partnership and launched our first product with China CITIC Bank. The CITIC American Express Card will be available in both Classic and Gold versions, will be denominated in both Reminbi and US dollar currencies, and offers a strong value proposition especially in the areas of travel rewards and benefits. - Announced the first card issuing partnership with GE Consumer Finance (a Japanese subsidiary of GE Money, a unit of General Electric Company) to issue American Express-branded credit cards in Japan. This is the world's first issuance of a card carrying the brands of these two credit card companies. - Announced our agreement with Mitsubishi UFJ NICOS Co., Ltd. to offer American Express-branded Gold and Platinum credit cards in Japan, targeting affluent customers and young executives. - As part of our partnership with JSC "Kazkommertsbank", we launched in Kazakhstan the American Express(R) Gold Card and The Platinum Card(R) from American Express, both available in Kazakhstani tenge or US dollar denominations. Kazkommertsbank is the exclusive issuer of American Express Cards in the market and is also the merchant acquirer in this region. Also, on October 9th, JD Power and Associates released the findings of a new nationwide study of 7,812 credit card users, ranking American Express highest in overall satisfaction among the 10 largest card issuers in the U.S. -4-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED <TABLE> <CAPTION> (Preliminary) STATEMENTS OF INCOME (GAAP BASIS) (Millions, except per share amounts) Quarters Ended Percentage September 30, Inc/(Dec) ------------------------ ---------- 2007 2006 ---- ---- <S> <C> <C> <C> Revenues Discount revenue $3,659 $3,259 12% Net card fees 522 462 13 Travel commissions and fees 484 427 13 Other commissions and fees 644 539 19 Securitization income, net 392 384 2 Other 362 417 (13) ------ ------ Total 6,063 5,488 10 ------ ------ Interest income: Cardmember lending finance revenue 1,581 1,213 30 Other (including investment certificates) 309 291 6 ------ ------ Total 1,890 1,504 26 ------ ------ Total Revenues 7,953 6,992 14 ------ ------ Interest expense: Cardmember lending 444 318 40 Charge card and other 564 409 38 ------ ------ Total 1,008 727 39 ------ ------ Revenues net of interest expense 6,945 6,265 11 Expenses Marketing, promotion, rewards and cardmember services 1,810 1,586 14 Human resources 1,366 1,227 11 Professional services 539 562 (4) Occupancy and equipment 374 346 8 Communications 118 104 13 Other 339 342 (1) ------ ------ Total 4,546 4,167 9 Provisions for losses and benefits: Charge card 279 257 9 Cardmember lending 579 412 41 Other (including investment certificates) 124 118 5 ------ ------ Total 982 787 25 ------ ------ Pretax income from continuing operations 1,417 1,311 8 Income tax provision 343 377 (9) ------ ------ Income from continuing operations 1,074 934 15 (Loss) Income from discontinued operations, net of tax (7) 33 # ------ ------ Net income $1,067 $967 10 ====== ====== EPS-Basic Income from continuing operations $0.92 $0.78 18 ====== ====== (Loss) Income from discontinued operations $(0.01) $0.02 # ====== ====== Net Income $(0.91) $0.80 14 ====== ====== EPS-Diluted Income from continuing operations $0.90 $0.76 18 ====== ====== (Loss) Income from discontinued operations $(0.00) $0.03 # ====== ====== Net Income $0.90 $0.79 14 ====== ====== Average Shares Outstanding Basic 1,170 1,202 (3) ====== ====== Diluted 1,192 1,227 (3) ====== ====== </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. # Denotes variance of more than 100%. -5-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED o CONSOLIDATED REVENUES NET OF INTEREST EXPENSE: Consolidated revenues net of interest expense increased 11%, reflecting increases versus last year of 12% within USCS, 17% within ICS, 12% within GCS and 17% within GNMS. Revenues net of interest expense increased due to greater discount revenues, larger interest income, higher other commission and fees, increased net card fees, greater travel commissions and fees, and higher securitization income net, partially offset by increased interest expense and lower other revenues. Translation of foreign currency benefited the revenues net of interest expense growth rate by approximately 2%. o CONSOLIDATED EXPENSES: Consolidated expenses increased 9%, reflecting an increase of 6% within USCS, 27% within ICS, 10% within GCS and 12% within GNMS. Expense growth reflected higher marketing, promotion, rewards and cardmember services expense, greater human resources expense, increased occupancy and equipment costs, higher communication expenses, and larger other expenses, partially offset by lower professional services expenses. Translation of foreign currency contributed approximately 2% to the expense growth rate. o CONSOLIDATED PROVISIONS FOR LOSSES AND BENEFITS: Consolidated provisions for losses and benefits increased 25% versus last year, reflecting a 44% increase in USCS, a 24% increase in GCS, a 21% increase in GNMS, and a flat provision level in ICS. Provisions rose primarily due to increases in the cardmember lending and charge card provisions. Translation of foreign currency contributed approximately 2% to the provision growth rate. o PRE-TAX MARGIN: Was 20.4% in 3Q '07 compared with 20.3% in 2Q '07 and 20.9% in 3Q '06. o EFFECTIVE TAX RATE: Was 24% in 3Q '07 versus 26% in 2Q '07 and 29% in 3Q '06. The 3Q '07 rate reflects $75MM in tax benefits principally related to the resolution of prior years' tax items. The 2Q '07 rate primarily reflects a $65MM IRS benefit related to the treatment of prior years' card fee income. The 3Q '06 rate reflects the favorable impacts of a net interest receivable from the IRS, finalization of the 2005 U.S. Federal tax return and an adjustment of 2006 estimated state taxes. o DISCOUNT REVENUE: Rose 12% on a 16% increase in billed business. The slower revenue versus billed business growth reflects the relatively faster growth in billed business related to GNS, where we share discount revenue with our card issuing partners, and higher cash-back rewards costs and corporate incentive payments. - The average discount rate* was 2.57% in 3Q '07, 2Q '07 and 3Q '06. As indicated in prior quarters, selective repricing initiatives, continued changes in the mix of business and volume-related pricing discounts will likely result in some erosion of the average discount rate over time. <TABLE> <CAPTION> Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------------- ------------- 2007 2006 ---- ---- <S> <C> <C> <C> Card billed business* (billions): United States $115.2 $101.7 13% Outside the United States 47.3 38.6 23 -------- -------- Total $162.5 $140.3 ======== ======== 16 Total cards in force (millions): United States 51.7 46.8 10 Outside the United States 33.0 29.7 11 -------- -------- Total 84.7 76.5 11 ======== ======== Basic cards in force (millions): United States 40.1 36.0 11 Outside the United States 28.3 25.2 12 -------- -------- Total 68.4 61.2 12 ======== ======== Average basic cardmember spending** United States $3,192 $3,040 5 Outside the United States $2,542 $2,175 17 Total $3,006 $2,782 8 </TABLE> * For additional information about billed business and discount rate calculations, please refer to the Third Quarter 2007 Earnings Release, American Express Company Selected Statistical Information pages. ** Proprietary card activity only. -6-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED - WORLDWIDE BILLED BUSINESS: The 16% increase in worldwide billed business reflected a 13% increase in USCS, a 15% increase in ICS, a 14% increase in GCS and a 45% increase in GNS partner volume. The table below summarizes selected billed business related statistics for 3Q '07: <TABLE> <CAPTION> Percentage Increase Assuming No Changes in Percentage Foreign Increase Exchange Rates ------------- ------------------ <S> <C> <C> WORLDWIDE* Billed Business 16% 14% Average spending per proprietary basic card 8 6 Basic cards-in-force 12 U.S.* Billed Business 13 Average spending per proprietary basic card 5 Basic cards-in-force 11 Proprietary consumer card billed business** 12 Proprietary small business billed business** 15 Proprietary Corporate Services billed business*** 9 OUTSIDE THE U.S.* Billed Business 23 14 Average spending per proprietary basic card 17 9 Basic cards-in-force 12 Proprietary consumer and small business billed business**** 15 7 Proprietary Corporate Services billed business*** 24 15 </TABLE> * Captions not designated as "proprietary" include both proprietary and GNS data. ** Included in USCS. *** Included in GCS. **** Included in ICS. -- U.S. non-T&E-related volume categories (which represented approximately 68% of 3Q '07 U.S. billed business) grew 15%, while T&E volumes rose 10%. -- U.S. airline-related volume, which represented approximately 9% of total U.S. volumes during the quarter, increased 5% due to a 5% increase in transactions and a slightly higher average airline charge. -- Worldwide airline volumes, which represented approximately 11% of total volumes during the quarter, increased 13% on 8% growth in transactions and a 5% increase in the average airline charge. -- Assuming no changes in foreign exchange rates: Total billed business outside the U.S. reflected proprietary growth in Europe and Latin America in the low double-digits and growth in Canada and Asia Pacific in the high single-digits. - TOTAL CARDS IN FORCE: Rose 11% worldwide due to an increase of 8% in USCS, a 2% increase in ICS, a 3% increase in GCS and a 32% increase in GNS. Continued strong card acquisitions within both proprietary and GNS activities, as well as continued solid average customer retention levels, drove these results. -- 1.2MM and 1.3MM net cards were added during the quarter in the U.S. and the non-U.S. businesses, respectively. o NET CARD FEES: Increased 13% due to the benefit of card growth and a higher average card fee. The average annual fee per proprietary card in force was $36 in 3Q '07 and 2Q '07 versus $34 in 3Q '06. o TRAVEL COMMISSIONS AND FEES: Increased 13% reflecting a 16% increase in worldwide travel sales. o OTHER COMMISSIONS AND FEES: Rose 19% on higher card-related conversion revenues and greater assessment and service fees. o SECURITIZATION INCOME, NET: Increased 2% as higher gains from issuances and a greater average balance of securitized loans was partially offset by an increase in write offs and greater interest expense, due to a higher coupon rate paid to certificate holders. Securitization income, net represents the non-credit provision components of the gains from securitization activities within the USCS segment, fair value changes of the related interest-only (I/O) strip, excess spread related to securitized loans, net finance revenue on retained interests in securitized loans, and servicing income, net of related discounts or fees. -7-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED <TABLE> <CAPTION> - Components of Securitization Income, Net: Quarters Ended Percentage September 30, Inc/(Dec) ----------------------------------- ------------ 2007 2006 ---- ---- <S> <C> <C> <C> (millions) Excess spread* $264 $279 (5)% Servicing fees 108 100 8 Gains on sales from securitizations** 20 5 # ---- ---- Total securitization income $392 $384 2 ==== ==== </TABLE> # Denotes variance of more than 100%. * Excess spread is the net positive cash flow from interest and fee collections allocated to the investor's interests after deducting the interest paid on investor certificates, credit losses, contractual servicing fees, other expenses, and the changes in the fair value of the I/O strip in 2007. ** Excludes $47MM and $(18)MM in 2007 and $13MM and $(15)MM in 2006 of impact from cardmember loan sales and maturities, respectively, reflected in the credit provision. - The average balance of Cardmember lending securitizations was $21.4B in 3Q '07, compared with $20.0B in 3Q '06. o OTHER REVENUES: Decreased 13% as the $81MM pre-tax AEIDC charge previously mentioned was partially offset by higher network, merchant, publishing and insurance-related revenues. o CARDMEMBER LENDING FINANCE REVENUE: Increased 30% due to 30% growth in average worldwide lending balances on an owned basis. o OTHER (INCLUDING INVESTMENT CERTIFICATES) INTEREST INCOME: Increased 6%. o CARDMEMBER LENDING INTEREST EXPENSE: Increased 40% reflecting the increased loan balances and a higher cost of funds. o CHARGE CARD AND OTHER INTEREST EXPENSE: Increased 38% reflecting a higher cost of funds and an increased receivable balance. o MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES EXPENSES: Increased 14%, reflecting higher volume-related rewards costs and greater marketing and promotion expenses. o HUMAN RESOURCES EXPENSE: Increased 11% due to a higher level of employees, merit increases and larger benefit costs. o PROFESSIONAL SERVICES EXPENSE: Declined 4%. o OCCUPANCY AND EQUIPMENT EXPENSE: Rose 8%. o COMMUNICATIONS EXPENSE: Increased 13% due to higher cardmember-related communications activities. o OTHER EXPENSE: Decreased 1% as a decrease in underlying expenses was partially offset by the $33MM pre-tax gain related to the sales of our operations in Malaysia and Indonesia in 3Q '06. -8-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED CHARGE CARD PROVISION FOR LOSSES: Increased 9%, primarily reflecting higher business volumes. - WORLDWIDE CHARGE CARD:* -- The loss ratio and past due rate increased versus last quarter, but remained flat compared to last year. <TABLE> <CAPTION> 9/07 6/07 9/06 -------------- ------------- ------------- <S> <C> <C> <C> Net loss ratio as a % of charge volume 0.26% 0.24% 0.26% 90 days past due as a % of receivables 2.8% 2.7% 2.8% 9/07 6/07 9/06 ------------- ------------- ------------- Total Receivables (billions) $38.5 $38.4 $35.0 Reserves (millions) $998 $981 $947 % of receivables 2.6% 2.6% 2.7% % of 90 day past due accounts 91% 95% 97% </TABLE> *There are no off-balance sheet Charge Card securitizations. Therefore, all credit quality statistics for the Charge Card portfolio are on an "Owned Basis." Note: Amounts herein reflect certain revisions, as noted on pages 2-3. o CARDMEMBER LENDING PROVISION FOR LOSSES: Increased 41% due to increased loan volumes and higher write-off and delinquency rates within the U.S., which have risen after the unusually low rates in 2006 that followed the October 2005 change in the bankruptcy legislation. - WORLDWIDE LENDING:* -- The write-off rate was unchanged versus last quarter, but increased versus last year. The past due rate increased versus last year and last quarter. <TABLE> <CAPTION> 9/07 6/07 9/06 -------------- ------------- ------------- <S> <C> <C> <C> Net write-off rate 4.1% 4.1% 3.8% 30 days past due as a % of loans 3.0% 2.8% 2.8% 9/07 6/07 9/06 ------------- -------------- ------------- Total Loans (billions) $50.5 $48.3 $38.3 Reserves (millions) $1,469 $1,417 $1,126 % of total loans 2.9% 2.9% 2.9% % of 30 days past due accounts 97% 106% 106% </TABLE> * All lending statistics are presented here on a GAAP or "Owned Basis". "Managed Basis" credit quality statistics are available in the Third Quarter 2007 Earnings Release on the American Express Company Consolidated Selected Statistical Information pages. Credit trends are generally consistent under both reporting methods. o OTHER (INCLUDING INVESTMENT CERTIFICATES) PROVISION FOR LOSSES AND BENEFITS: Increased 5%. -9-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW CONSOLIDATED SUPPLEMENTAL INFORMATION - TANGIBLE COMMON EQUITY AND TOTAL ADJUSTED ASSETS During the third quarter of 2006, the Company issued $750MM of 6.80% Subordinated Debentures due 2036 ("Subordinated Debentures"), which are automatically extendable until 2066 unless certain events occur prior to that date. In connection with the Subordinated Debentures, the Company has undertaken to disclose on a quarterly basis the amount of its "tangible common equity" and "total adjusted assets". The Company's consolidated tangible common equity amount as of the end of any fiscal quarter means the total shareholders' equity, excluding preferred stock, of the Company as reflected on its consolidated balance sheet prepared in accordance with GAAP as of such fiscal quarter end minus (i) intangible assets and goodwill and (ii) deferred acquisition costs, as determined in accordance with GAAP and reflected in such consolidated balance sheet. The Company calculates total adjusted assets as of the end of any fiscal quarter as the sum of (i) total consolidated assets as reflected on the Company's balance sheet minus (ii) non-securitized Cardmember lending receivables (without deduction for reserves), which are set forth on the Company's balance sheet, plus (iii) managed (i.e., securitized and non-securitized) worldwide Cardmember lending receivables as reported by the Company for such fiscal quarter. As of September 30, 2007, the Company's tangible common equity was $9B and its total adjusted assets were $162B. As of September 30, 2007, the consolidated assets, as reflected on the Company's balance sheet, were $141B. CORPORATE & OTHER Net expense was $59MM in 3Q '07 compared with net expense of $85MM in 2Q '07 and $47MM in 3Q '06. The 3Q '07 expense includes the previously mentioned $41MM after-tax AEIDC charge. The 2Q '07 expense includes costs related to regulatory and legal exposures and $2MM ($1MM after-tax) of reengineering costs. -10-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW U.S. CARD SERVICES <TABLE> <CAPTION> CONDENSED STATEMENTS OF INCOME (GAAP BASIS) (Preliminary) Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------------- ----------------- (millions) 2007 2006 ---- ---- Revenues <S> <C> <C> <C> Discount revenue, net card fees and other $2,632 $2,358 12% Cardmember lending finance revenue 1,224 928 32 Securitization income, net 392 384 2 ---- ---- Total revenues 4,248 3,670 16 Interest expense: Cardmember lending 402 260 55 Charge card and other 257 207 24 ---- ---- Revenues net of interest expense 3,589 3,203 12 ---- ---- Expenses Marketing, promotion, rewards and cardmember services 1,191 1,117 7 Human resources and other operating expenses 848 805 5 ---- ---- Total 2,039 1,922 6 ---- ---- Provisions for losses 638 442 44 ---- ---- Pretax segment income 912 839 9 Income tax provision 320 281 14 ---- ---- Segment income $592 $558 6 ---- ---- </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. <TABLE> <CAPTION> STATISTICAL INFORMATION Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------------- ----------------- 2007 2006 ---- ---- <S> <C> <C> <C> Card billed business (billions) $94.2 $83.4 13% Total cards in force (millions) 42.9 39.9 8 Basic cards in force (millions) 31.8 29.5 8 Average basic cardmember spending* (dollars) $2,986 $2,852 5 Segment capital (billions) $4.5 $4.5 - Return on segment capital** 50.5% 46.6% </TABLE> * Proprietary cards only. ** Computed on a trailing 12-month basis using segment income and equity capital allocated to segments based upon specific business operational needs, risk measures and regulatory capital requirements. - BILLED BUSINESS: The 13% increase in USCS billed business reflects a 5% increase in average spending per proprietary basic card and 8% growth in basic cards in force. -- Within the U.S. consumer business, billed business grew 12%; small business volumes rose 15%. - TOTAL CARDS IN FORCE: Increased by 3.0MM, or 8%, versus last year on continued strong card acquisition activity and retention levels. P&L DISCUSSION: o NET INCOME: Increased 6% as revenues net of interest expense rose 12%, expenses increased 6% and provisions for losses increased 44%. - PRE-TAX MARGIN: Was 25.4% in 3Q '07 versus 23.2% in 2Q '07 and 26.2% in 3Q '06. - EFFECTIVE TAX RATE: Was 35% in 3Q '07 compared to 30% in 2Q '07 and 33% in 3Q '06. The 3Q '07 rate includes $18MM of the previously mentioned tax benefits versus $56MM of benefits in 2Q '07. o DISCOUNT REVENUE, NET CARD FEES AND OTHER REVENUES: Increased 12%, largely due to greater billed business volumes, increased other commissions and fees, higher net card fees, and greater travel revenues. o CARDMEMBER LENDING FINANCE REVENUE: Increased 32% on 35% growth in average owned lending balances and a slightly lower portfolio yield. -11-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW U.S. CARD SERVICES o SECURITIZATION INCOME, NET: Increased 2% as higher gains from issuances and a greater average balance of securitized loans were partially offset by an increase in write offs and greater interest expense, due to a higher coupon rate paid to certificate holders. o CARDMEMBER LENDING INTEREST EXPENSE: Increased 55% on greater loan balances and a higher cost of funds. o CHARGE CARD AND OTHER INTEREST EXPENSE: Increased 24% due to a higher cost of funds and a larger receivable balance. o MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES EXPENSES: Increased 7%, due to higher volume-driven rewards costs which were partially offset by lower marketing and promotion expenses. o HUMAN RESOURCES AND OTHER OPERATING EXPENSES: Increased 5% primarily due to higher technology and volume-related operating expenses. o PROVISIONS FOR LOSSES: Increased 44% reflecting the impact of strong loan and volume growth and higher write-off and delinquency rates, which have risen after the unusually low rates following the enactment of the October 2005 U.S. bankruptcy legislation. - CHARGE CARD: * -- The loss ratio and past due rates increased versus last year and last quarter. <TABLE> <CAPTION> 9/07 6/07 9/06 ------------- ------------ ------------ <S> <C> <C> <C> Total Receivables (billions) $19.4 $19.8 $18.2 Net loss ratio as a % of charge volume 0.34% 0.30% 0.33% 90 days past due as a % of total 3.9% 3.6% 3.5% </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. - CARDMEMBER LENDING: ** -- The write-off rate increased versus last year, but remained flat versus last quarter. The past due rate increased versus last year and last quarter, but remained well within historical ranges. <TABLE> <CAPTION> 9/07 6/07 9/06 ----------- ------------- ----------- <S> <C> <C> <C> Total Loans (billions) $40.0 $38.3 $29.3 Net write-off rate 3.7% 3.7% 3.1% 30 days past due as a % of loans 3.1% 2.7% 2.7% </TABLE> * There are no off-balance sheet Charge Card securitizations. Therefore, all credit quality statistics for the Charge Card portfolio are on an "Owned Basis." ** Owned basis. See page 13-14 for "Managed Basis" Cardmember lending information. -12-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW U.S. CARD SERVICES MANAGED BASIS For USCS, 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. For the managed basis presentation, revenue and expenses related to securitized cardmember loans are reflected in net card fees and other, cardmember lending finance revenue, cardmember lending interest expense and credit provision. On a managed basis, there is no securitization income, net, as the managed basis presentation assumes no securitization transactions have occurred. The Company presents USCS 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 accurate picture 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. On a GAAP basis, revenue and expenses from securitized cardmember loans are reflected in the Company's income statements in securitization income, net, fees and commissions, and credit provision for cardmember lending. At the time of a securitization transaction, the securitized cardmember loans are removed from the Company's balance sheet, and the resulting gain on sale is reflected in securitization income, net, as well as an impact to credit provision (credit reserves are no longer recorded for the cardmember loans once sold). Over the life of a securitization transaction, the Company recognizes servicing fees and other net revenues (referred to as "excess spread") related to the interests sold to investors (i.e. the investors' interests). These amounts are reflected in securitization income, net, and fees and commissions. The Company also recognizes cardmember lending finance revenue over the life of the securitization transaction related to the interest it retains (i.e. the seller's interest). At the maturity of a securitization transaction, cardmember loans on the balance sheet increase, and the impact of the incremental required loss reserves is recorded in credit provision. As presented, in aggregate over the life of a securitization transaction, the pretax income impact to the Company is the same whether or not the Company had securitized cardmember loans or funded these loans through other financing activities (assuming the same financing costs). The income statement classifications, however, of specific items will differ. The following information reconciles the GAAP basis presentation for certain USCS income statement line items to the managed basis presentation, where different: <TABLE> <CAPTION> Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- o DISCOUNT REVENUE, NET CARD FEES AND OTHER: <S> <C> <C> <C> Reported for the period (GAAP) $2,632 $2,358 12% Securitization adjustments 67 51 31 ---- ---- Managed discount revenue, net card fees and other $2,699 $2,409 12 ====== ====== o CARDMEMBER LENDING FINANCE REVENUE: Reported for the period (GAAP) $1,224 $928 32 Securitization adjustments 821 749 10 ---- ---- Managed finance revenue $2,045 $1,677 22 ====== ======= o SECURITIZATION INCOME, NET: Reported for the period (GAAP) $392 $384 2 Securitization adjustments (392) (384) 2 ---- ---- Managed securitization income, net $ - $ - - ====== ======= o CARDMEMBER LENDING INTEREST EXPENSE: Reported for the period (GAAP) $402 $260 55 Securitization adjustments 302 274 10 ---- ---- Managed cardmember lending interest expense $704 $534 32 ---- ---- o PROVISIONS FOR LOSSES: Reported for the period (GAAP) $638 $442 44 Securitization adjustments 226 144 57 ---- ---- Managed provisions for losses $864 $586 47 ---- ---- </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. -13-

MANAGED P&L DISCUSSION o DISCOUNT REVENUE, NET CARD FEES AND OTHER REVENUES: Increased 12%, largely due to higher billed business volumes, greater other commissions and fees, increased net card fees, and higher travel revenues. o CARDMEMBER LENDING FINANCE REVENUE: Increased 22% due to 23% growth in average managed lending balances and a slightly lower portfolio yield. o CARDMEMBER LENDING INTEREST EXPENSE: Increased 32% on growth in lending balances and a higher cost of funds. o PROVISIONS FOR LOSSES: Increased 47% reflecting the impact of strong loan and volume growth and higher write-off and delinquency rates, which have risen after the unusually low rates following the enactment of the October 2005 U.S. bankruptcy legislation. - CARDMEMBER LENDING: * -- The write-off rate increased versus last year, but remained flat versus last quarter. The past due rate increased versus last year and last quarter, but remained well within historical ranges. <TABLE> <CAPTION> 9/07 6/07 9/06 ----------- ------------- ------------ <S> <C> <C> <C> Total Loans (billions) $61.5 $58.6 $49.5 Net write-off rate 3.7% 3.7% 3.0% 30 days past due as a % of loans 2.9% 2.6% 2.6% </TABLE> * Managed basis. There are no off-balance sheet Charge Card securitizations. Therefore, all credit quality statistics for the Charge Card portfolio are on an "Owned Basis," as presented on page 12. -14-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW INTERNATIONAL CARD SERVICES CONDENSED STATEMENTS OF INCOME (GAAP BASIS) (Preliminary) <TABLE> <CAPTION> Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- <S> <C> <C> <C> Revenues Discount revenue, net card fees and other $953 $819 16% Cardmember lending finance revenue 353 286 23 ------ ------ Total revenues 1,306 1,105 18 Interest expense: Cardmember lending 126 99 27 Charge card and other 66 54 22 ------ ------ Revenues net of interest expense 1,114 952 17 ------ ------ Expenses Marketing, promotion, rewards and cardmember services 354 247 43 Human resources and other operating expenses 453 387 17 ------ ------ Total 807 634 27 ------ ------ Provisions for losses 197 197 - ------ ------ Pretax segment income 110 121 (9) Income tax (benefit) provision (30) 15 # ------ ------ Segment income $140 $106 32 ------ ------ </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. # Denotes variance of more than 100%. STATISTICAL INFORMATION <TABLE> <CAPTION> Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- <S> <C> <C> <C> Card billed business (billions) $24.7 $21.4 15 Total cards in force (millions) 15.8 15.5 2 Basic cards in force (millions) 11.2 11.1 1 Average basic cardmember spending* (dollars) $2,209 $1,908 16 Segment capital (millions)** $1,983 $1,936 2 Return on segment capital** 24.4% 16.8% </TABLE> * Proprietary cards only. ** Segment capital includes an allocation attributable to goodwill of $520MM and $517MM in 3Q '07 and 3Q '06, respectively. Return on segment capital is computed on a trailing 12-month basis using segment income and equity capital allocated to segments based upon specific business operational needs, risk measures and regulatory capital requirements. - BILLED BUSINESS: The 15% increase in billed business reflects a 16% increase in average spending per proprietary basic card and a 1% increase in basic cards in force. -- Adjusting for the impacts of foreign exchange translation, billed business and spending per proprietary basic card in force increased 7% and 8%, respectively, and volume growth within the major geographic regions ranged from growth in the mid single-digits to the low double-digits. - TOTAL CARDS IN FORCE: Increased by 300K, or 2%, versus last year. P&L DISCUSSION o NET INCOME: Increased 32% versus last year as revenues net of interest expense increased 17%, expenses rose by 27% and provisions for losses was unchanged. Both revenue and expense growth rates were inflated by the translation of foreign currency. - 3Q '06 expenses included a $23MM ($17MM after-tax) gain related to the completion of the sale of the Company's card operations in Malaysia and Indonesia. - PRE-TAX MARGIN: Was 9.9% in 3Q '07 versus 8.8% in 2Q '07 and 12.7% in 3Q '06. - EFFECTIVE TAX RATE: Was (27%) in both 3Q '07 and 2Q '07, respectively, versus 12% in 3Q '06. Going forward, this segment will likely reflect an overall tax benefit since our internal tax allocation process provides ICS with the consolidated benefit related to its ongoing funding activities outside the U.S. In addition to that recurring benefit, the 3Q '07 tax rate includes $17MM of the previously mentioned tax benefits, while the 2Q '07 rate includes several small favorable items primarily related to the finalization of prior year's tax returns and settlements with tax authorities. The 3Q '06 rate reflects the relatively low tax benefit associated with credit losses in Taiwan and the overall impact of ICS' global mix of earnings. -15-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW INTERNATIONAL CARD SERVICES CONDENSED STATEMENTS OF INCOME (GAAP BASIS) o DISCOUNT REVENUE, NET CARD FEES AND OTHER REVENUES: The increase of 16% versus 3Q '06 was driven primarily by the higher level of card spending, increased net card fees, greater other revenues, higher other commissions and fees, and increased travel revenues. o CARDMEMBER LENDING FINANCE REVENUE: Increased 23% on 15% growth in average lending balances and a higher portfolio yield. o CARDMEMBER LENDING INTEREST EXPENSE: Increased 27% on higher loan balances and an increased cost of funds. o CHARGE CARD AND OTHER INTEREST EXPENSE: Increased 22% on a higher receivable balance and a greater cost of funds. o MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES EXPENSES: Increased 43%, reflecting volume-driven increases in rewards costs as well as higher marketing and promotion expenses. o HUMAN RESOURCES AND OTHER OPERATING EXPENSES: Increased 17%, primarily due to higher human resources and other operating expenses, which reflect last year's gain on the business sales in Malaysia and Indonesia. o PROVISIONS FOR LOSSES: Was unchanged from a year ago as lower write-off and past due rates were partially offset by higher volumes and lending balances. - CHARGE CARD: * -- The loss ratio and past due rate decreased versus last year and last quarter. <TABLE> <CAPTION> 9/07 6/07 9/06 ------------ ----------- ----------- <S> <C> <C> <C> Total Receivables (billions) $6.1 $5.9 $5.5 Net loss ratio as a % of charge volume 0.26% 0.28% 0.27% 90 days past due as a % of total 1.8% 2.0% 2.6% </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. - CARDMEMBER LENDING:* -- The write-off and past due rates decreased versus last year and last quarter. <TABLE> <CAPTION> 9/07 6/07 9/06 ------------ ----------- ----------- <S> <C> <C> <C> Cardmember Loans (billions) $10.5 $10.0 $9.0 Net write-off rate 5.5% 6.0% 5.9% 30 days past due as a % of loans 2.7% 2.9% 3.1% </TABLE> * There are no off-balance sheet Charge Card and currently no off-balance sheet international lending securitizations. Therefore, all credit quality statistics for the Charge Card and international lending portfolio are on an "Owned Basis". -16-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW GLOBAL COMMERCIAL SERVICES CONDENSED STATEMENTS OF INCOME (GAAP BASIS) <TABLE> <CAPTION> (Preliminary) Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- <S> <C> <C> <C> Revenues Discount revenue, net card fees and other $1,180 $1,045 13% ------ ------ Charge card and other interest expense 116 96 21 ------ ------ Revenues net of interest expense 1,064 949 12 ------ ------ Expenses Marketing, promotion, rewards and cardmember services 86 80 8 Human resources and other operating expenses 749 678 10 ------ ------ Total 835 758 10 Provisions for losses 42 34 24 ------ ------ Pretax segment income 187 157 19 Income tax provision 52 52 - ------ ------ Segment income $135 $105 29 ====== ====== </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. STATISTICAL INFORMATION <TABLE> <CAPTION> Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- <S> <C> <C> <C> Card billed business (billions) $29.9 $26.2 14% Total cards in force (millions) 6.8 6.6 3 Basic cards in force (millions) 6.8 6.6 3 Average basic cardmember spending* (dollars) $4,389 $3,974 10 Segment capital (millions)** $2,230 $1,997 12 Return on segment capital** 26.2% 27.6% </TABLE> * Proprietary cards only. ** Segment capital includes an allocation attributable to goodwill of $767MM and $630MM in 3Q '07 and 3Q '06, respectively. Return on segment capital is computed on a trailing 12-month basis using segment income and equity capital allocated to segments based upon specific business operational needs, risk measures and regulatory capital requirements. - BILLED BUSINESS: The 14% increase in billed business reflects a 10% increase in average spending per proprietary basic card and a 3% increase in basic cards in force. -- Adjusting for the impacts of foreign exchange translation, billed business and spending per proprietary basic card in force increased 11% and 7%, respectively, and volume growth within the U.S. of 9% compared to growth within the Company's other major geographic regions ranging from the mid-to-high teens. - TOTAL CARDS IN FORCE: Increased by 200K, or 3%, versus last year. P&L DISCUSSION o NET INCOME: Increased 29% versus last year as revenues net of interest expense increased 12%, expenses rose by 10% and provisions for losses grew 24%. Both revenue and expense growth rates were inflated by the translation of foreign currency. - 3Q '06 included $10MM ($7MM after-tax) of the gain on the sale of the Company's card-related operations in Malaysia and Indonesia. - 3Q '07 included $9MM ($6MM after-tax) of reengineering expenses versus $11MM ($7MM after-tax) in 3Q '06. - PRE-TAX MARGIN: Was 17.6% in 3Q '07 versus 20.1% in 2Q '07 and 16.5% in 3Q '06. - EFFECTIVE TAX RATE: Was 28% in 3Q '07 versus 26% in 2Q '07 and 33% in 3Q '06. The 3Q '07 and 2Q '07 rate reflects $9MM and $8MM, respectively, of the previously mentioned tax benefits in those periods. o DISCOUNT REVENUE, NET CARD FEES AND OTHER REVENUES: The increase of 13% versus 3Q '06 was driven primarily by the higher level of card spending, greater travel revenues, and higher other commissions and fees. o CHARGE CARD AND OTHER INTEREST EXPENSE: Increased 21% on a higher cost of funds and a larger receivable balance. -17-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW GLOBAL COMMERCIAL SERVICES o MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES EXPENSES: Increased 8%, primarily due to greater volume-related rewards costs. o HUMAN RESOURCES AND OTHER OPERATING EXPENSES: Increased 10%, primarily reflecting increased human resources costs and higher occupancy and equipment expense, in part due to the acquisitions of Harbor Payments and FAE Travel. o PROVISIONS FOR LOSSES: Increased 24% reflecting higher volumes and loss rates. - CHARGE CARD: * -- The loss ratio increased versus last year and last quarter. The past due rate decreased versus last year, but was unchanged versus last quarter. <TABLE> <CAPTION> 9/07 6/07 9/06 ------------ ----------- ----------- <S> <C> <C> <C> Total Receivables (billions) $12.5 $12.2 $10.9 Net loss ratio as a % of charge volume 0.11% 0.10% 0.09% 90 days past due as a % of total 1.6% 1.6% 1.7% </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. * There are no off-balance sheet Charge Card securitizations. Therefore, all credit quality statistics for the charge card portfolio are on an "Owned Basis." -18-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW GLOBAL NETWORK & MERCHANT SERVICES CONDENSED STATEMENTS OF INCOME (GAAP BASIS) <TABLE> <CAPTION> (Preliminary) Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- (millions) 2007 2006 ---- ---- <S> <C> <C> <C> Revenues Discount revenue, fees and other $902 $773 17% ------ ------ Interest expense: Cardmember lending (33) (25) 32 Other (45) (43) 5 ------ ------ Revenues net of interest expense 980 841 17 ------ ------ Expenses Marketing and promotion 151 118 28 Human resources and other operating expenses 417 390 7 ------ ------ Total 568 508 12 ------ ------ Provisions for losses 23 19 21 ------ ------ Pretax segment income 389 314 24 Income tax provision 123 102 21 ------ ------ Segment income $266 $212 25 ====== ====== </TABLE> Note: Amounts herein reflect certain revisions, as noted on pages 2-3. <TABLE> <CAPTION> STATISTICAL INFORMATION Quarters Ended Percentage September 30, Inc/(Dec) ---------------------------- ----------------- 2007 2006 ---- ---- <S> <C> <C> <C> Global card billed business*(billions) $162.5 $140.3 16% Segment capital (millions) $1,125 $1,262 (11) Return on segment capital** 84.7% 57.9% Global Network Services: Card billed business (billions) $14.1 $9.7 45% Total cards in force (millions) 19.2 14.5 32 </TABLE> * Includes activities related to proprietary cards (including cash advances), cards issued under network partnership agreements, and certain insurance fees charged on proprietary cards. ** Computed on a trailing 12-month basis using segment income and equity capital allocated to segments based upon specific business operational needs, risk measures and regulatory capital requirements. P&L DISCUSSION o NET INCOME: Increased 25% as revenues net of interest expense grew 17%, expenses rose 12%, and provisions for losses increased 21%. Both revenue and expense growth rates were inflated by translation of foreign currency. - PRE-TAX MARGIN: Was 39.7% in 3Q '07 versus 43.3% in 2Q '07 and 37.3% in 3Q '06. - EFFECTIVE TAX RATE: Was 32% in 3Q '07 versus 36% in 2Q '07 and 32% in 3Q '06. The 3Q '07 rate reflects $22MM of the previously mentioned tax benefits. o DISCOUNT REVENUE, FEES AND OTHER REVENUE: Increased 17%, reflecting growth in merchant-related revenues, primarily from the 16% increase in global card billed business, and higher GNS-related revenues. o CARDMEMBER LENDING INTEREST EXPENSE: The expense credit increased 32% due to a larger volume and rate-driven interest credit related to internal transfer pricing which recognizes the merchant services' accounts payable-related funding benefit. o OTHER INTEREST EXPENSE: The expense credit increased 5% as higher interest on capital allocations was more than offset by a larger volume and rate-driven interest credit related to internal transfer pricing which recognizes the merchant services' accounts payable-related funding benefit. o MARKETING AND PROMOTION EXPENSES: Increased 28%, reflecting an increase in brand and partner-related advertising costs versus last year. -19-

AMERICAN EXPRESS COMPANY THIRD QUARTER 2007 OVERVIEW GLOBAL NETWORK & MERCHANT SERVICES o HUMAN RESOURCES AND OTHER OPERATING EXPENSES: Increased 7% primarily due to greater human resources and volume-related expenses. o PROVISIONS FOR LOSSES: Increased 21% due to an increase in merchant-related reserves, primarily driven by higher volumes. -20-

INFORMATION RELATED TO FORWARD LOOKING STATEMENTS THIS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS, WHICH ARE SUBJECT TO RISKS AND UNCERTAINTIES. THE WORDS "BELIEVE," "EXPECT," "ANTICIPATE," "OPTIMISTIC," "INTEND," "PLAN," "AIM," "WILL," "MAY," "SHOULD," "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 FOLLOWING: THE COMPANY'S ABILITY TO MEET ITS ROE TARGET RANGE OF 33 TO 36 PERCENT ON AVERAGE AND OVER TIME, WHICH WILL DEPEND IN PART ON FACTORS SUCH AS THE COMPANY'S ABILITY TO GENERATE SUFFICIENT REVENUE GROWTH AND ACHIEVE SUFFICIENT MARGINS, FLUCTUATIONS IN THE CAPITAL REQUIRED TO SUPPORT ITS BUSINESSES, THE MIX OF THE COMPANY'S FINANCINGS, AND FLUCTUATIONS IN THE LEVEL OF THE COMPANY'S SHAREHOLDERS' EQUITY DUE TO SHARE REPURCHASES, DIVIDENDS, CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME AND ACCOUNTING CHANGES, AMONG OTHER THINGS; THE ACTUAL AMOUNT SPENT BY THE COMPANY IN THE FOURTH QUARTER OF 2007 ON MARKETING, PROMOTION, REWARDS AND CARDMEMBER SERVICES BASED ON MANAGEMENT'S ASSESSMENT OF COMPETITIVE OPPORTUNITIES AND OTHER FACTORS AFFECTING ITS JUDGMENT; THE COMPANY'S ABILITY TO GROW ITS BUSINESS AND MEET OR EXCEED ITS RETURN ON SHAREHOLDERS' EQUITY TARGET BY REINVESTING APPROXIMATELY 35 PERCENT OF ANNUALLY-GENERATED CAPITAL, AND RETURNING APPROXIMATELY 65 PERCENT OF SUCH CAPITAL TO SHAREHOLDERS, OVER TIME, WHICH WILL DEPEND ON THE COMPANY'S ABILITY TO MANAGE ITS CAPITAL NEEDS AND THE EFFECT OF BUSINESS MIX, ACQUISITIONS AND RATING AGENCY REQUIREMENTS; 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 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 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; FLUCTUATIONS IN INTEREST RATES (INCLUDING FLUCTUATIONS IN BENCHMARKS, SUCH AS LIBOR AND OTHER BENCHMARK RATES, USED TO PRICE LOANS AND OTHER INDEBTEDNESS, AS WELL AS CREDIT SPREADS IN THE PRICING OF LOANS AND OTHER INDEBTEDNESS), WHICH IMPACT THE COMPANY'S BORROWING COSTS, RETURN ON LENDING PRODUCTS AND THE VALUE OF THE COMPANY'S INVESTMENTS; THE CONTINUATION OF FAVORABLE TRENDS, INCLUDING INCREASED TRAVEL AND ENTERTAINMENT SPENDING, AND THE OVERALL LEVEL OF CONSUMER CONFIDENCE; THE COSTS AND INTEGRATION OF ACQUISITIONS; THE UNDERLYING ASSUMPTIONS AND EXPECTATIONS RELATED TO THE SALE OF THE AMERICAN EXPRESS BANK LTD. BUSINESSES PROVING TO BE INACCURATE OR UNREALIZED, INCLUDING, AMONG OTHER THINGS, THE LIKELIHOOD OF AND EXPECTED TIMING FOR COMPLETION OF THE TRANSACTION, THE PROCEEDS TO BE RECEIVED BY THE COMPANY IN THE TRANSACTION AND THE TRANSACTION'S IMPACT ON THE COMPANY'S EARNINGS; 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 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; 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; THE COMPANY'S ABILITY TO MANAGE CREDIT RISK RELATED TO CONSUMER DEBT, BUSINESS LOANS, MERCHANT BANKRUPTCIES AND OTHER CREDIT TRENDS AND THE RATE OF BANKRUPTCIES, WHICH CAN AFFECT SPENDING ON CARD PRODUCTS, DEBT PAYMENTS BY INDIVIDUAL AND CORPORATE CUSTOMERS AND BUSINESSES THAT ACCEPT THE COMPANY'S CARD PRODUCTS AND RETURNS ON THE COMPANY'S INVESTMENT PORTFOLIOS; BANKRUPTCIES, RESTRUCTURINGS, CONSOLIDATIONS OR SIMILAR EVENTS 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 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; FLUCTUATIONS IN FOREIGN CURRENCY EXCHANGE RATES; 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; 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 PAYMENTS INDUSTRY; 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; 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, 2006, AND ITS OTHER REPORTS FILED WITH THE SEC. -21-