Ameriprise Financial Chosen as New Name for American Express Financial Advisors.

MINNEAPOLIS -- Insurance and Asset Management Businesses to be Rebranded RiverSource

The American Express Financial Advisors (AEFA) unit of American Express Company (NYSE:AXP) today announced that as part of its spin-off from American Express it will adopt the new name Ameriprise Financial. The company's insurance, annuity, asset management and outside distribution businesses will operate under the new brand name RiverSource.

As previously announced, American Express is pursuing a spin-off to shareholders of the AEFA unit to form an independent, publicly traded financial planning and financial services business that offers asset accumulation, income management, insurance and retirement products and services to individuals, businesses and institutions. The transaction is expected to be completed in the third quarter of 2005, subject to certain conditions. The company will begin operating under the Ameriprise Financial brand on Aug. 1, 2005.

"The name Ameriprise reflects both our history and our strengths as one of the leading financial services firms in the United States," said Jim Cracchiolo, chairman and CEO of AEFA. "The name represents our American roots and the vastness of our nationwide network of over 10,500 financial advisors. It also embodies the enterprising culture our people bring to bear in helping provide our clients the peace of mind that comes with planning for a secure financial future. We help people achieve the "prize" of the American dream."

The new Ameriprise Financial logo is based on a compass, symbolizing how the company provides direction and helps its clients navigate their financial futures.

"We conducted extensive research - with our financial advisors, our employees and consumers - to create a name that resonates with our heritage, our brand image and our values," said Kim Sharan, AEFA chief marketing officer.

Ameriprise Financial will be comparable to approximately number 300 within the Fortune 500. As of March 31, 2005, the company had over $400 billion in assets owned, managed and administered. With over 2.5 million clients, more CERTIFIED FINANCIAL PLANNER(TM) practitioners than any other firm, strong asset management capabilities, including international capabilities through Threadneedle Investments in the U.K., and a robust insurance and annuities business, Ameriprise Financial will be a leader in the industry.

Beginning Aug. 1, 2005, the Ameriprise Financial brand will be used for the holding company, as well as for selected businesses, such as Ameriprise Retirement Services, Ameriprise Certificate Company, Ameriprise Auto & Home, and Ameriprise Trust Company. At the same time, the company's financial advisors will begin doing business as "The Personal Advisors of Ameriprise Financial." This fall, the company will launch a major national advertising campaign in support of the Ameriprise Financial brand.

Within the overall Ameriprise Financial brand, the company's insurance, annuity, asset management and outside distribution businesses will operate under the brand name RiverSource.

"As we become independent, we chose to use the RiverSource name for our insurance, annuity and asset management product lines and their distribution in order to distinguish these capabilities from the financial planning and services offered through our financial advisors," said Cracchiolo. "This will enable our product companies to convey their own unique identity when marketing to other financial services providers, which will be especially helpful as we grow in outside distribution."

The name RiverSource reflects the depth, power and longevity of the company's asset management, annuity and insurance businesses. Throughout its 111-year history, the company has supported the growth and prosperity of its clients as rivers support the growth and prosperity of communities that build on them.

The RiverSource name will be used for:

--RiverSource Investments, including retail and institutional asset management.

--RiverSource Insurance, which in 2004 was ranked second in sales of variable universal life insurance(1) and seventh in sales of disability income insurance.(2)

--RiverSource Annuities, which in 2004 ranked 11th in new sales of variable annuities.(3)

--RiverSource Distributors, the company's distribution arm.

Together, these businesses play a vital role in the Ameriprise Financial organization.

The company launched a new website today, www.ameriprise.com, which contains an overview of Ameriprise Financial's products and services, capabilities and other information.

The American Express Financial Advisors (AEFA) unit of American Express Company is one of the nation's leading financial planning, asset management and insurance companies. Through its nationwide network of more than 10,500 financial advisors, AEFA delivers financial solutions to clients through a comprehensive and personalized financial planning approach built on a long term relationship with a knowledgeable advisor. The company specializes in meeting the retirement-related financial needs of the mass affluent. American Express Financial Corporation provides retail and institutional asset management products and services in the U.S. In Europe such products and services are provided through Threadneedle Asset Management Limited. Insurance 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 through American Express Financial Advisors and American Express Trust Company. American Express Financial Corporation will be the new parent company and will begin operating as Ameriprise Financial, Inc. on August 1. For more information, visit www.ameriprise.com .

Brokerage, investment and advisory services provided by American Express Financial Advisors Inc. Member NASD and SIPC, which will become Ameriprise Financial Services, Inc. on August 1. American Express Company is not a broker-dealer.

1. Tillinghast Towers-Perrin Value (TM) survey.

2. LIMRA International 2004 data

3. VARDS(R) 2004 data