American Express Retirement Services Launches Financial Ed. on the Web; Interactive Modules Provide Back-to-Basics Financial Education.

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Aug. 12, 2002

American Express Retirement Services' Financial Education and Planning Services group today announced new online education programs designed to help employees of client companies get "back to the basics" in addressing their finances. Financial Education Basics Online(SM) is a series of three- to five-minute presentation modules that provide education around basic financial topics on the Web.

The first three modules are Goal Setting, Cash Flow/Net Worth and Cash Reserves. Designed with Macromedia's Flash MX technology, which is bundled with approximately 95% of current web browsers, the presentations feature animated text, colorful photos and speaking. Users can stop or advance the presentation at their own pace, or let it run automatically. The programs are offered free of charge.

"Financial Education Basics Online is an excellent use of the web for self-driven, interactive education," said Rusty Field, vice president of American Express's Financial Education and Planning Services. "It's important that we constantly use the newest technology to offer education that is content rich and accessible to the largest audience. With the majority of web browsers now able to harness this technology, our educational presentations can be simply and easily viewed without requiring the broadband connection of streaming video."

Additional online education modules will be added over time, with one more series of modules planned for 2002. As new modules are added, the existing modules will remain available as part of the Financial Education Basics library that users can continue to access over time.

Financial Education Basics Online is available to Financial Education and Planning Services client employees through the Financial Education Center at www.americanexpress.com/financialed.

American Express Retirement Services' Financial Education & Planning Services (FEPS) unit delivers comprehensive financial education programs to organizations ranging from small businesses to Fortune 500 corporations. FEPS provides Web, phone, print and face-to-face education, guidance and advice to more than two million employees nationwide.

American Express Financial Advisors is one of the nation's leading financial planning companies. It is part of the American Express Financial Corporation, which currently owns or manages more than $238 billion in assets as of June 30, 2001. Through a network of more than 11,300 financial advisors and its online services, the company provides comprehensive, long-term financial planning and high quality financial products to more than 2.6 million clients throughout the United States.

American Express Retirement Services, a service group of American Express Financial Advisors, is a provider of services for defined contribution and 401(k) plans with total combined assets of more than $31 billion and a participant base of more than 1.2 million as of December 31, 2001. For more information on American Express Retirement Services, and FEPS, visit http://www.americanexpress.com/sponsors.

Registered investments and financial planning services are offered through American Express Financial Advisors Inc., Member NASD. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer. Retirement plan and trust related services are offered through American Express Trust Company.