American Express Will Give Away Five Million Points In Membership Rewards Sweepstakes.

NEW YORK--(BUSINESS WIRE)--August 12, 1996--American Express is holding a Five Million Point Giveaway to mark the fifth anniversary of its Membership Rewards(SM) Program.

Membership Rewards enrollees will automatically receive an entry in the sweepstakes every time they make a purchase with their American Express(R) Card at any of the 43 travel, shopping and gourmet rewards program partners from September 1 to December 31, 1996. Over 200 winners are possible; the grand prize is one million points.

"We wanted to thank Cardmembers for making Membership Rewards so successful, so we decided to celebrate with the ultimate giveaway," said Peggy Maher, vice president, Membership Rewards, noting that Membership Rewards has about three million enrollees in the United States. "Winners can choose to redeem points for any combination of rewards to design their dream prize. For example, you could get 10 different designer wardrobes from Saks, fly to Europe 20 times, live on a cruise ship for a month or have a lobster clambake for 400 people."

Randy Peterson of Inside Flyer Magazine, which has voted Membership Rewards the Best Travel Affinity program for the past four years, was also supportive of the promotion. "This is a kind of world-class promotion that produces two results, Membership Rewards customers will love the program even more, and cardholders in other rewards programs will wish they were with American Express. Five million points is a most impressive way of saying thanks to Membership Rewards customers."

The sweepstakes has four prize categories:

Grand Prize: 1 winner 1,000,000 Membership Rewards Points First Prize: 2 winners 500,000 Membership Rewards Points Second Prize: 10 winners 100,000 Membership Rewards Points Third Prize: 200 winners 10,000 Membership Rewards Points

The Membership Rewards Partners are:

Airlines: Delta Air Lines, USAir, Continental, Southwest Airlines, Hawaiian Airlines, Swissair, Austrian Airlines, Sabena, EL AL Israel Airlines, Korean Air, Aeromexico and Mexicana

Lodging: Marriott, ITT Sheraton, Hilton, Westin, Renaissance

Car Rental: Hertz, Budget Rent a Car, National Car Rental

Retail: Saks Fifth Avenue, Tower Records, Caswell-Massey, Nobody Beats The Wiz, One Step Ahead, Tourneau, NordicTrack, Waldenbooks, Beverly Clark Collection, FTD Direct, Fortunoff, Sports Illustrated Insider Authentics, Filene's Basement, CompUSA

Gourmet: Pfaelzer Brothers, K-Paul's Louisiana Mail Order, H&H Bagels, Hale Indian River Groves, Executive Wine Seminars, Clambake Celebrations, California Sunshine Fine Foods, Taste of Vail Food & Wine Festival, Windsor Vineyards.

American Express waives the $25 annual fee for The Membership Rewards Program for the first year -- and there is no fee for Rewards Plus Gold Card and Platinum Card(R) members. Cardmembers can combine spending by enrolling all their eligible cards in Membership Rewards, plus up to two Additional Cards on each personal account, at no extra charge(a). To become an American Express cardmember or to enroll in Membership Rewards, call 1-800-AXP-EARN (297-3276).

American Express Company is a diversified travel and financial services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, Travel, financial planning, investment products, insurance and international banking.

(a) The annual Membership Rewards fee for some Corporate Cards is $50. Some Optima Cards and some Corporate Cards are not eligible for enrollment.

CONTACT: American Express Travel Related Services

Emily Porter 212/640-4761

Monica Beaupre 212/640-2653