American Express and MovieFone Announce Long-Term Marketing Alliance to Promote Movie Ticket Sales Via Telephone and Internet.

NEW YORK--(BUSINESS WIRE)--July 22, 1998--American Express Company (NYSE:AXP) and MovieFone Inc. (NASDAQ NM:MOFN), the nation's largest movie listing guide and ticketing service, today announced a new long-term marketing partnership to promote telephone and Internet ticketing for movies.

Under the new agreement, American Express will become a national sponsor of MovieFone and its online sister service MovieLink.com, and the companies will work together on and jointly fund new marketing programs designed to reward moviegoers when they use the American Express Card to buy tickets through these services. The new program is expected to accelerate the already rapid increase in electronic ticket sales for movies and other events, via the telephone and the Internet.

MovieFone will promote American Express to its over 110 million annual users, both on the MovieFone (777-FILM) telephone service, available in 32 cities (i.e. "Hello and welcome to MovieFone, brought to you by American Express...") and on MovieLink.com. MovieFone will also include American Express prominently in its national advertising campaign. American Express will promote the use of MovieFone services through dedicated advertising and promotion to its Cardmembers and the general public. The companies are expected in the coming weeks to announce the specifics of the initiatives designed to reward moviegoers nationwide for using the Card.

"American Express is the perfect partner for MovieFone, since they share our commitment to the movies, and to building a powerful brand through innovation," said Andrew Jarecki, MovieFone CEO. "We look forward to expanding our longstanding partnership and initiating new programs that make moviegoing more appealing for consumers."

"American Express has always been the credit card of choice for the entertainment-oriented consumer, and we believe that there is great potential in increasing usage by moviegoers," said Lloyd M. Wirshba, vice president and general manager, Restaurant and Entertainment Industries, American Express Company.

He continued, "As recently as seven years ago, moviegoers didn't have the convenience of charging tickets by phone or at most box offices. At that time we began working hand-in-hand with MovieFone to launch this important service, and today millions of moviegoers use the American Express Card for a night at the movies. With the advent of MovieLink.com on the Internet, consumers have benefited from a whole new way to get movie information and buy tickets. MovieFone has consistently been the market-leader in using technology to make the moviegoing experience easier and more pleasurable, and we are proud to expand our relationship with this innovative company."

Jim Erlick, president of J.M. Erlick Inc., was MovieFone's consultant on the partnership. Erlick has fourteen years of corporate marketing experience.

American Express Company is a diversified worldwide 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.

MovieFone Inc. is a media company focusing on the moviegoing audience. The company's primary products, the MovieFone interactive telephone service (777-FILM) and MovieLink.com on the web, comprise the largest movie listing guide and ticketing service in the country, providing millions of moviegoers each week with a complete, free directory of movies, showtimes, theater locations, and the ability to purchase tickets in advance. The company, which is celebrating its 10th anniversary this year, has received over 300 million calls and logged over 30 million online users. The company's services cover more than 14,000 movie screens in 32 cities around the nation, which account for 60 percent of the nation's movie attendance. MovieFone, Inc. (NASDAQ NM:MOFN) is a public company with offices in New York and Los Angeles.

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              MovieFone Inc., New York
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