EXHIBIT 99.1


News Release          News Release          News Release           News Release

[LOGO] American Express

                                                 Contact:  Molly Faust
                                                           212/640-0624
                                                           molly.faust@aexp.com

FOR IMMEDIATE RELEASE

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              AMERICAN EXPRESS TO RAISE $1.8 BILLION FROM SALE OF
                          CONVERTIBLE DEBT SECURITIES

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         NEW YORK, November 17, 2003 - American Express Company (NYSE: AXP)
announced today that it intends to raise $1.8 billion through an offering of
convertible debt securities due 2033. American Express may raise up to an
additional $200 million upon exercise of an option granted to the initial
purchasers in connection with the offering.

         The convertible debt securities will be issued in a private placement
and are expected to be resold by the initial purchasers to qualified
institutional buyers under Rule 144A of the Securities Act of 1933, as
amended. Neither the convertible debt securities nor the shares of common
stock issuable upon conversion have been registered under the Securities Act
of 1933 or any state securities laws, and until so registered, may not be
offered or sold in the United States or any state absent registration or an
applicable exemption from registration requirements.

         American Express expects to use the proceeds of the offering for
general corporate purposes.

         This announcement is neither an offer to sell nor the solicitation of
an offer to buy the convertible debt securities or any other securities and
shall not constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.

         American Express Company (www.americanexpress.com) is a diversified
worldwide travel, financial and network services company founded in 1850. It
is a world leader in charge and credit cards, Travelers Cheques, travel,
financial planning, business services, insurance, on-line brokerage and
international banking.

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         This release contains forward-looking statements about American
Express Company's intention to raise funds from the sale of convertible debt
securities and its expectations about the use of those funds, which statements
are indicated by the words "will," "plan," "expect" and similar expressions.
Such forward-looking statements are subject to risks and uncertainties.
Readers are cautioned not to place undue reliance on such statements, which
speak only as of the date on which they are made. The company undertakes no
obligation to update or revise such forward-looking statements.