Wal-Mart welcomes the American Express Card; World's largest retailer is the most requested merchant by American Express Cardmembers.

NEW YORK--(BUSINESS WIRE)--Oct. 31, 1995--Beginning Nov. 1, the 70 million consumers who shop at Wal-Mart stores each week will have yet another payment option.

Just in time for the busy holiday shopping season, North America's most popular and versatile retailer will welcome the American Express(R) Card and Optima(R) Card at its more than 2,300 locations throughout the United States, Canada and Puerto Rico.

Wal-Mart agreed to accept the American Express Card to further broaden its consumer appeal and improve service to its customers who prefer using the American Express Card.

At American Express, Cardmember demand to use both the American Express Card and Optima Card at Wal-Mart helped lead to the recent partnership between the two companies. In the past year, more than 14,000 Cardmembers have written and telephoned American Express to request that Wal-Mart accept the Card.

"Wal-Mart is always investigating new ways of improving service to our customers," said Steve Hunter, Wal-Mart's director of financial operations. "Accepting American Express will enable us to broaden our customer appeal and fulfill our promise of Everyday Low Prices more conveniently than ever before."

David House, president of Establishment Services Worldwide at American Express Travel Related Services Co., Inc. (TRS) said, "Using the American Express Card for retail purchases is very important to our Cardmembers. We are extremely pleased that Wal-Mart, the world's largest retailer, now welcomes the American Express Card. This alliance between two of the nation's strongest and most recognized brands instantly makes the American Express Card the card of choice for retail shopping, and it allows loyal American Express Cardmembers to purchase high-quality products at outstanding Wal-Mart value."

Rewards programs are one of the primary reasons Cardmembers are charging more in retail, and seeking more places to use the Card. For example, the Membership Rewards(SM) program from American Express allows Cardmembers to earn a program point for every dollar charged on an enrolled Card. Points can be used to redeem airline tickets, hotel stays, merchandise and gourmet items. With over two million U.S. Cardmembers enrolled, the Membership Rewards program has grown to become one of the largest programs of its kind. The company found that once Cardmembers enrolled in the program, their spending increased an average of 25 percent, as they put virtually all of their spending on the American Express Card.

The Wal-Mart signing coincides with the Nov. 1 launch of American Express' annual Charge Against Hunger campaign, and provides Cardmembers with more than 2,300 more places to use the Card for their holiday purchases. Each time an American Express Card or Optima Card is used from Nov. 1 to Dec. 31, American Express will donate three cents to Share Our Strength, one of the nation's largest anti-hunger organizations, with a maximum donation of $5 million.

Wal-Mart is the flagship division of Wal-Mart Stores, Inc., the world's largest retailer. The company operates 2,195 Wal-Mart stores and Supercenters in the United States and Puerto Rico, and 128 Wal-Mart stores in Canada. Wal-Mart Stores, Inc. also operates in Argentina, Brazil, Hong Kong and Mexico. Wal-Mart (WMT) is traded on the New York, Pacific and Toronto stock exchanges.

Today, with the signing of Wal-Mart, American Express research shows that based on the way Cardmembers use their American Express Cards, they can put 86 percent of their plastic spending on American Express. Presently, American Express is signing new merchants to welcome the American Express Card at the rate of one every two minutes.

American Express Travel Related Services Company, Inc., is a wholly-owned subsidiary of the American Express Company-- 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.

CONTACT: American Express

Marcos Rada, 212/640-2566

or

Wal-Mart Stores, Inc.

Jane Bockholt, 501/273-4314

or

M. Silver Associates

Rosalie Huerta, 212/754-6500