American Express Financial Advisors Selects Saatchi & Saatchi as Advertising Agency of Record.

MINNEAPOLIS -- American Express Financial Advisors (AEFA), a unit of American Express Company (NYSE:AXP), today announced the selection of Saatchi & Saatchi Worldwide as its new advertising agency of record. The New York-based agency will develop new ideas, including an advertising campaign to help AEFA promote a new brand name. Earlier this year, American Express announced plans to pursue a spin-off to shareholders of AEFA. The transaction is expected to be completed in the third quarter of 2005, subject to certain conditions.

"We are excited to work with Saatchi & Saatchi on an unprecedented advertising campaign," said Kim Sharan, senior vice president and chief marketing officer - AEFA. "We have the unique opportunity to launch a new identity for our 111-year-old financial services company and we are confident that Saatchi & Saatchi will perform well in this new undertaking."

Saatchi & Saatchi New York is the largest agency in the Saatchi & Saatchi global network, part of Publicis Groupe.

"We are ecstatic to be working with American Express Financial Advisors as they launch a new world-class brand," said Mary Baglivo, chief executive officer - Saatchi & Saatchi New York. "We share many of the same company values and are particularly excited to build big ideas across the full range of consumer and business touchpoints."

Ogilvy & Mather Worldwide will continue to be the advertising agency of record for American Express Company.

American Express Financial Advisors is one of the nation's leading financial planning, asset management and insurance companies. Through its nationwide network of more than 12,000 financial advisors, AEFA helps clients achieve their financial goals by building long term relationships based on trusted, knowledgeable advice. The company specializes in meeting the retirement-related financial needs of the mass affluent. AEFA provides retail and institutional asset management products and services in the U.S. through American Express Financial Corporation, and in Europe through Threadneedle Asset Management, Limited. Insurance and annuity products are issued by IDS Life Insurance Company, IDS Property Casualty Company and their subsidiaries. American Express Retirement Services provides investment management and recordkeeping services to large and mid-size company 401(k) plans, as well as workplace financial education programs. For more information, visit www.americanexpress.com .

On Feb. 1, 2005, American Express Company announced plans to pursue a spin-off to shareholders of the American Express Financial Advisors unit. The transaction is expected to be completed in the third quarter of 2005, subject to certain conditions.

American Express Financial Advisors Inc. Member NASD. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer.