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AMERICAN EXPRESS PLANS PUBLIC OFFERING OF INFORMATION PROCESSING SUBSIDIARY

 AMERICAN EXPRESS PLANS PUBLIC OFFERING OF
 INFORMATION PROCESSING SUBSIDIARY
 NEW YORK, Feb. 3 /PRNewswire/ -- American Express Company (NYSE: AXP) announced today that a registration statement will be filed with the Securities and Exchange Commission for an initial public offering of the common stock of its information processing subsidiary. The company will be renamed First Data Corporation (FDC). It had been known as American Express Information Services Corporation.
 Most of the offering will represent shares currently held by American Express. A small portion will represent new shares issued by First Data.
 After completion of the planned offering, American Express will own approximately 55 to 65 percent of the common shares of First Data. There are no current plans for American Express to sell additional shares.
 First Data is a leading provider of high quality, high volume, information processing and related services. Through its oldest and largest business unit, First Data Resources, the Company is the leading third-party processor of MasterCard and VISA card transactions in the United States and the United Kingdom. During 1991, it processed more than 1.7 billion credit card transactions for more than 700 financial institutions. In addition, FDC provides extensive information processing services to the consumer funds transfer, telemarketing, mutual fund, healthcare and cable television industries.
 The SEC filing is expected to be made later this month. The offering will be made only by means of a prospectus.
 "The planned offering will let us realize part of our investment in First Data, add to its capital base, and provide it with access to the capital markets," said James D. Robinson III, Chairman and Chief Executive Officer, American Express Company. "The public offering will raise substantial funds for American Express that will be available for general corporate purposes at a time when a strong capital base is especially important for financial services companies."
 American Express Company, a diversified travel and financial services company founded in 1850, is a world leader in charge cards, Travelers Cheques and travel related activities. It is also a leader in financial planning, securities brokerage, asset management, international banking, investment banking and information processing and communications services.
 -0- 2/3/92
 /CONTACT: Sarah Lane, American Express Company, 704-549-6908/
 (AXP) CO: American Express Company ST: New York IN: FIN SU: PDT


DF -- CH002 -- 6074 02/03/92 10:33 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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