EXHIBIT 99.2

All information in the following tables is presented on a basis prepared in accordance with U.S. generally accepted accounting principles (GAAP), unless otherwise indicated. Prior period amounts were revised in the first quarter of 2011 to reflect various changes associated with the Company's reclassification of certain contractual lump sum payments to partners, previously recognized in Other, net, expenses, as either contra Discount revenue or Marketing and promotion expense. Additionally, the tables reflect changes to the Company's segment allocation methodology due to reorganization of certain businesses, such as Enterprise Growth, across its reportable operating segments.

(Preliminary)
American Express Company
Consolidated Statements of Income
(Millions)
	Quarters Ended								Six Months Ended
	June 30,					Percentage			June 30,					Percentage
	2011		2010			Inc/(Dec)			2011		2010			Inc/(Dec)
Revenues
Non-interest revenues
Discount revenue	$	4,278	$	3,680			16	%	$	8,180	$	7,102			15	%
Net card fees		545		520			5			1,082		1,041			4
Travel commissions and fees		523		434			21			977		819			19
Other commissions and fees		584		497			18			1,113		997			12
Other		537		486			10			1,012		911			11
Total non-interest revenues		6,467		5,617			15			12,364		10,870			14
Interest income
Interest and fees on loans		1,611		1,657			(3	)		3,230		3,432			(6	)
Interest and dividends on investment securities		99		125			(21	)		187		242			(23	)
Deposits with banks and other		18		16			13			38		29			31
Total interest income		1,728		1,798			(4	)		3,455		3,703			(7	)
Interest expense
Deposits		131		137			(4	)		268		265			1
Short-term borrowings		1		1			-			1		2			(50	)
Long-term debt and other		445		472			(6	)		901		941			(4	)
Total interest expense		577		610			(5	)		1,170		1,208			(3	)
Net interest income		1,151		1,188			(3	)		2,285		2,495			(8	)
Total revenues net of interest expense		7,618		6,805			12			14,649		13,365			10
Provisions for losses
Charge card		161		96			68			359		323			11
Cardmember loans		176		540			(67	)		56		1,228			(95	)
Other		20		16			25			39		44			(11	)
Total provisions for losses		357		652			(45	)		454		1,595			(72	)
Total revenues net of interest expense after provisions for losses		7,261		6,153			18			14,195		11,770			21
Expenses
Marketing and promotion		795		824			(4	)		1,504		1,443			4
Cardmember rewards		1,613		1,192			35			3,190		2,403			33
Cardmember services		173		127			36			337		284			19
Salaries and employee benefits		1,595		1,315			21			3,117		2,642			18
Professional services		745		636			17			1,408		1,197			18
Occupancy and equipment		391		379			3			785		763			3
Communications		92		97			(5	)		187		192			(3	)
Other, net		92		(12	)		#			170		(1	)		#
Total		5,496		4,558			21			10,698		8,923			20
Pretax income from continuing operations		1,765		1,595			11			3,497		2,847			23
Income tax provision		470		578			(19	)		1,025		945			8
Income from continuing operations		1,295		1,017			27			2,472		1,902			30
Income from discontinued operations, net of tax		36		-			#			36		-			#
Net income	$	1,331	$	1,017			31		$	2,508	$	1,902			32
Income from continuing operations attributable to common shareholders (A)	$	1,280	$	1,004			27		$	2,442	$	1,877			30
Net income attributable to common shareholders (A)	$	1,316	$	1,004			31		$	2,478	$	1,877			32
# - Denotes a variance of more than 100%.

(A) Represents income from continuing operations or net income, as applicable, less earnings allocated to participating share awards and other items of $15 million and $13 million for the three months ended June 30, 2011 and 2010, and $30 million and $25 million for the six months ended June 30, 2011 and 2010, respectively.

1

(Preliminary)
American Express Company
Condensed Consolidated Balance Sheets
(Billions)
	June 30,		December 31,
	2011		2010
Assets
Cash	$	23	$	16
Accounts receivable		43		40
Investment securities		9		14
Loans		57		58
Other assets		16		19
Total assets	$	148	$	147
Liabilities and Shareholders' Equity
Customer deposits	$	32	$	30
Short-term borrowings		4		3
Long-term debt		61		66
Other liabilities		33		32
Total liabilities		130		131
Shareholders' Equity		18		16
Total liabilities and shareholders' equity	$	148	$	147

2

(Preliminary)
American Express Company
Financial Summary
(Millions)
	Quarters Ended									Six Months Ended
	June 30,						Percentage			June 30,						Percentage
	2011			2010			Inc/(Dec)			2011			2010			Inc/(Dec)
Total revenues net of interest expense
U.S. Card Services	$	3,759		$	3,607			4	%	$	7,336		$	7,109			3	%
International Card Services		1,351			1,107			22			2,559			2,242			14
Global Commercial Services		1,191			1,023			16			2,312			1,988			16
Global Network & Merchant Services		1,239			1,051			18			2,376			2,033			17
		7,540			6,788			11			14,583			13,372			9
Corporate & Other, including adjustments and eliminations		78			17			#			66			(7	)		#
CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	7,618		$	6,805			12		$	14,649		$	13,365			10
Pretax income (loss) from continuing operations
U.S. Card Services	$	900		$	821			10		$	1,810		$	1,474			23
International Card Services		196			191			3			436			356			22
Global Commercial Services		265			233			14			530			357			48
Global Network & Merchant Services		487			405			20			963			798			21
		1,848			1,650			12			3,739			2,985			25
Corporate & Other		(83	)		(55	)		51			(242	)		(138	)		75
PRETAX INCOME FROM CONTINUING OPERATIONS	$	1,765		$	1,595			11		$	3,497		$	2,847			23
Net income (loss)
U.S. Card Services	$	665		$	516			29		$	1,220		$	930			31
International Card Services		161			155			4			350			294			19
Global Commercial Services		177			112			58			361			197			83
Global Network & Merchant Services		324			261			24			637			514			24
		1,327			1,044			27			2,568			1,935			33
Corporate & Other		(32	)		(27	)		19			(96	)		(33	)		#
Income from continuing operations		1,295			1,017			27			2,472			1,902			30
Income from discontinued operations, net of tax		36			-			#			36			-			#
NET INCOME	$	1,331		$	1,017			31		$	2,508		$	1,902			32
# - Denotes a variance of more than 100%.

3

(Preliminary)
American Express Company
Financial Summary (continued)
	Quarters Ended									Six Months Ended
	June 30,						Percentage			June 30,						Percentage
	2011			2010			Inc/(Dec)			2011			2010			Inc/(Dec)
EARNINGS PER COMMON SHARE
BASIC
Income from continuing operations attributable to common shareholders	$	1.08		$	0.84			29	%	$	2.05		$	1.58			30	%
Income from discontinued operations		0.03			-			#			0.03			-			#
Net income attributable to common shareholders	$	1.11		$	0.84			32	%	$	2.08		$	1.58			32	%
Average common shares outstanding (millions)		1,190			1,190			-	%		1,190			1,188			-	%
DILUTED
Income from continuing operations attributable to common shareholders	$	1.07		$	0.84			27	%	$	2.04		$	1.57			30	%
Income from discontinued operations		0.03			-			#			0.03			-			#
Net income attributable to common shareholders	$	1.10		$	0.84			31	%	$	2.07		$	1.57			32	%
Average common shares outstanding (millions)		1,197			1,197			-	%		1,197			1,194			-	%
Cash dividends declared per common share	$	0.18		$	0.18			-	%	$	0.36		$	0.36			-	%
Selected Statistical Information
	Quarters Ended									Six Months Ended
	June 30,						Percentage			June 30,						Percentage
		2011			2010		Inc/(Dec)				2011			2010		Inc/(Dec)
Return on average equity (A)		28.2	%		23.5	%					28.2	%		23.5	%
Return on average common equity (A)		27.9	%		23.2	%					27.9	%		23.2	%
Return on average tangible common equity (A)		36.1	%		30.0	%					36.1	%		30.0	%
Common shares outstanding (millions)		1,193			1,202			(1	) %		1,193			1,202			(1	) %
Book value per common share	$	15.26		$	12.08			26	%	$	15.26		$	12.08			26	%
Shareholders' equity (billions)	$	18.2		$	14.5			26	%	$	18.2		$	14.5			26	%
# - Denotes a variance of more than 100%.

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity, a non-GAAP measure.

4

(Preliminary)
American Express Company
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Card billed business (A):
United States	$	136.8		$	119.7			14	%
Outside the United States		70.8			55.6			27
Total	$	207.6		$	175.3			18
Total cards-in-force (millions) (B):
United States		49.8			49.0			2	%
Outside the United States		44.2			39.9			11
Total		94.0			88.9			6
Basic cards-in-force (millions) (B) (C):
United States		38.7			37.9			2	%
Outside the United States		35.3			31.8			11
Total		74.0			69.7			6
Average discount rate (D)		2.54	%		2.56	%
Average basic cardmember spending (dollars) (E)	$	3,767		$	3,288			15	%
Average fee per card (dollars) (E)	$	39		$	37			5	%
Average fee per card adjusted (dollars) (E)	$	43		$	41			5	%

(A)  Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards.  In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.  Card billed business is reflected in the United States or outside the United States based on where the cardmember is domiciled.

(B) Total cards-in-force represents the number of cards that are issued and outstanding.  Proprietary basic consumer cards-in-force includes basic cards issued to the primary account owner and does not include additional supplemental cards issued on that account.  Proprietary basic small business and corporate cards-in-force include basic and supplemental cards issued to employee cardmembers.  Non-proprietary cards-in-force includes all cards that are issued and outstanding under network partnership agreements, except for retail co-brand cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

(C)  Prior to and including the fourth quarter of 2010, the Company did not have the data necessary to separately report Basic and Supplementary cards-in-force (CIF) for Global Network Services; therefore, all cards-in-force for Global Network Services was reported as Basic CIF. Starting in the first quarter of 2011, as the necessary data became available, the Company began to separately report Basic and Supplementary CIF for Global Network Services.  The Company has accordingly revised prior periods to conform with the current period presentation.

(D)  This calculation is designed to reflect pricing at merchants accepting general purpose American Express cards.  It represents the percentage of billed business (both proprietary and Global Network Services) retained by the Company from merchants it acquires, prior to payments to third parties unrelated to merchant acceptance.

(E)  Average basic cardmember spending and average fee per card are computed from proprietary card activities only.  Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs, plus card fees included in interest and fees on loans (including related amortization of deferred direct acquisition costs), divided by average worldwide proprietary cards-in-force.  The card fees related to cardmember loans included in interest and fees on loans were $68 million and $48 million for the quarters ended June 30, 2011 and 2010, respectively.  The adjusted average fee per card, which is a non-GAAP measure, is computed in the same manner, but excludes amortization of deferred direct acquisition costs (a portion of which is charge card related and included in net card fees and a portion of which is lending related and included in interest and fees on loans).  The amount of amortization excluded was $56 million and $56 million for the quarters ended June 30, 2011 and 2010, respectively.  The Company presents adjusted average fee per card because the Company believes this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.

5

(Preliminary)
American Express Company
Selected Statistical Information (continued)
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Worldwide cardmember receivables:
Total receivables	$	40.1		$	34.6			16	%
Loss reserves (millions):
Beginning balance	$	421		$	498			(15	) %
Provisions for losses on authorized transactions (A)		119			55			#
Net write-offs		(128	)		(121	)		6
Other		3			8			(63	)
Ending balance	$	415		$	440			(6	)
% of receivables		1.0	%		1.3	%
Net write-off rate (principal only) - USCS (B)		1.5	%		1.6	%
Net write-off rate (principal and fees) - USCS (B)		1.7	%		1.8	%
30 days past due as a % of total - USCS		1.7	%		1.5	%
Net loss ratio (as a % of charge volume) - ICS/GCS		0.09	%		0.10	%
90 days past billing as a % of total - ICS/GCS		0.8	%		1.0	%
Worldwide cardmember loans:
Total loans	$	58.7		$	57.3			2	%
30 days past due loans as a % of total		1.6	%		2.8	%
Loss reserves (millions):
Beginning balance	$	2,921		$	5,314			(45	) %
Provisions for losses on authorized transactions		146			520			(72	)
Net write-offs - principal		(457	)		(867	)		(47	)
Net write-offs - interest and fees		(54	)		(92	)		(41	)
Other		4			(9	)		#
Ending balance	$	2,560		$	4,866			(47	)
Ending Reserves - principal	$	2,488		$	4,743			(48	)
Ending Reserves - interest and fees	$	72		$	123			(41	)
% of loans		4.4	%		8.5	%
% of past due		273	%		307	%
Average loans	$	58.5		$	57.5			2	%
Net write-off rate (principal only) (B)		3.1	%		6.0	%
Net write-off rate (principal, interest and fees) (B)		3.5	%		6.7	%
Net interest income divided by average loans (C) (D)		7.9	%		8.3	%
Net interest yield on cardmember loans (C)		9.0	%		9.6	%
# - Denotes a variance of more than 100%.

(A)  Represents loss provisions for cardmember receivables consisting of principal (resulting from authorized transactions) and fee reserve components.

(B)  The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(C)  See Appendix III for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(D)  This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

6

(Preliminary)
American Express Company
Consolidated Statements of Income
(Millions)
	Quarters Ended
	June 30,		March 31,			December 31,		September 30,		June 30,
	2011		2011			2010		2010		2010
Revenues
Non-interest revenues
Discount revenue	$	4,278	$	3,902		$	4,017	$	3,761	$	3,680
Net card fees		545		537			534		527		520
Travel commissions and fees		523		454			471		483		434
Other commissions and fees		584		529			519		515		497
Other		537		475			513		503		486
Total non-interest revenues		6,467		5,897			6,054		5,789		5,617
Interest income
Interest and fees on loans		1,611		1,619			1,676		1,675		1,657
Interest and dividends on investment securities		99		88			98		103		125
Deposits with banks and other		18		20			21		16		16
Total interest income		1,728		1,727			1,795		1,794		1,798
Interest expense
Deposits		131		137			140		141		137
Short-term borrowings		1		-			1		-		1
Long-term debt and other		445		456			464		469		472
Total interest expense		577		593			605		610		610
Net interest income		1,151		1,134			1,190		1,184		1,188
Total revenues net of interest expense		7,618		7,031			7,244		6,973		6,805
Provisions for losses
Charge card		161		198			183		89		96
Cardmember loans		176		(120	)		37		262		540
Other		20		19			19		22		16
Total provisions for losses		357		97			239		373		652
Total revenues net of interest expense after provisions for losses		7,261		6,934			7,005		6,600		6,153
Expenses
Marketing and promotion		795		709			833		871		824
Cardmember rewards		1,613		1,577			1,334		1,263		1,192
Cardmember services		173		164			166		141		127
Salaries and employee benefits		1,595		1,522			1,570		1,354		1,315
Professional services		745		663			908		701		636
Occupancy and equipment		391		394			428		371		379
Communications		92		95			99		92		97
Other, net		92		78			190		167		(12	)
Total		5,496		5,202			5,528		4,960		4,558
Pretax income from continuing operations		1,765		1,732			1,477		1,640		1,595
Income tax provision		470		555			415		547		578
Income from continuing operations		1,295		1,177			1,062		1,093		1,017
Income from discontinued operations, net of tax		36		-			-		-		-
Net income	$	1,331	$	1,177		$	1,062	$	1,093	$	1,017
Income from continuing operations attributable to common shareholders (A)	$	1,280	$	1,163		$	1,050	$	1,080	$	1,004
Net income attributable to common shareholders (A)	$	1,316	$	1,163		$	1,050	$	1,080	$	1,004

(A) Represents income from continuing operations or net income, as applicable, less earnings allocated to participating share awards and other items of $15 million for the quarter ended June 30, 2011, $14 million for the quarter ended March 31, 2011, $12 million for the quarter ended December 31, 2010, $13 million for the quarter ended September 30, 2010, $13 million for the quarter ended June 30, 2010.

7

(Preliminary)
American Express Company
Financial Summary
(Millions)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Total revenues net of interest expense
U.S. Card Services	$	3,759		$	3,577		$	3,728		$	3,625		$	3,607
International Card Services		1,351			1,208			1,238			1,163			1,107
Global Commercial Services		1,191			1,121			1,067			1,072			1,023
Global Network & Merchant Services		1,239			1,137			1,172			1,100			1,051
		7,540			7,043			7,205			6,960			6,788
Corporate & Other, including adjustments and eliminations		78			(12	)		39			13			17
CONSOLIDATED TOTAL REVENUES NET OF INTEREST EXPENSE	$	7,618		$	7,031		$	7,244		$	6,973		$	6,805
Pretax income (loss) from continuing operations
U.S. Card Services	$	900		$	910		$	1,059		$	971		$	821
International Card Services		196			240			102			131			191
Global Commercial Services		265			265			140			226			233
Global Network & Merchant Services		487			476			381			410			405
		1,848			1,891			1,682			1,738			1,650
Corporate & Other		(83	)		(159	)		(205	)		(98	)		(55	)
PRETAX INCOME FROM CONTINUING OPERATIONS	$	1,765		$	1,732		$	1,477		$	1,640		$	1,595
Net income (loss)
U.S. Card Services	$	665		$	555		$	700		$	595		$	516
International Card Services		161			189			99			144			155
Global Commercial Services		177			184			103			150			112
Global Network & Merchant Services		324			313			259			252			261
		1,327			1,241			1,161			1,141			1,044
Corporate & Other		(32	)		(64	)		(99	)		(48	)		(27	)
Income from continuing operations		1,295			1,177			1,062			1,093			1,017
Income from discontinued operations, net of tax		36			-			-			-			-
NET INCOME	$	1,331		$	1,177		$	1,062		$	1,093		$	1,017

8

(Preliminary)
American Express Company
Financial Summary (continued)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
EARNINGS PER COMMON SHARE
BASIC
Income from continuing operations attributable to common shareholders	$	1.08		$	0.98		$	0.88		$	0.91		$	0.84
Income from discontinued operations		0.03			-			-			-			-
Net income attributable to common shareholders	$	1.11		$	0.98		$	0.88		$	0.91		$	0.84
Average common shares outstanding (millions)		1,190			1,192			1,188			1,193			1,190
DILUTED
Income from continuing operations attributable to common shareholders	$	1.07		$	0.97		$	0.88		$	0.90		$	0.84
Income from discontinued operations		0.03			-			-			-			-
Net income attributable to common shareholders	$	1.10		$	0.97		$	0.88		$	0.90		$	0.84
Average common shares outstanding (millions)		1,197			1,198			1,194			1,199			1,197
Cash dividends declared per common share	$	0.18		$	0.18		$	0.18		$	0.18		$	0.18
Selected Statistical Information
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
		2011			2011			2010			2010			2010
Return on average equity (A)		28.2	%		27.9	%		27.5	%		25.9	%		23.5	%
Return on average common equity (A)		27.9	%		27.6	%		27.2	%		25.6	%		23.2	%
Return on average tangible common equity (A)		36.1	%		35.6	%		35.1	%		33.1	%		30.0	%
Common shares outstanding (millions)		1,193			1,202			1,197			1,204			1,202
Book value per common share	$	15.26		$	14.54		$	13.56		$	13.22		$	12.08
Shareholders' equity (billions)	$	18.2		$	17.5		$	16.2		$	15.9		$	14.5

(A) Refer to Appendix I for components of return on average equity, return on average common equity and return on average tangible common equity, a non-GAAP measure.

9

(Preliminary)
American Express Company
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Card billed business (A):
United States	$	136.8		$	124.1		$	131.1		$	120.5		$	119.7
Outside the United States		70.8			63.8			66.6			58.8			55.6
Total	$	207.6		$	187.9		$	197.7		$	179.3		$	175.3
Total cards-in-force (millions) (B):
United States		49.8			49.4			48.9			48.1			49.0
Outside the United States		44.2			43.0			42.1			40.9			39.9
Total		94.0			92.4			91.0			89.0			88.9
Basic cards-in-force (millions) (B) (C):
United States		38.7			38.3			37.9			37.2			37.9
Outside the United States		35.3			34.4			33.7			32.6			31.8
Total		74.0			72.7			71.6			69.8			69.7
Average discount rate (D)		2.54	%		2.55	%		2.52	%		2.56	%		2.56	%
Average basic cardmember spending (dollars) (E)	$	3,767		$	3,438		$	3,629		$	3,330		$	3,288
Average fee per card (dollars) (E)	$	39		$	39		$	38		$	38		$	37
Average fee per card adjusted (dollars) (E)	$	43		$	42		$	42		$	41		$	41

(A) Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards.  In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.  Card billed business is reflected in the United States or outside the United States based on where the cardmember is domiciled.

(B) Total cards-in-force represents the number of cards that are issued and outstanding.  Proprietary basic consumer cards-in-force includes basic cards issued to the primary account owner and does not include additional supplemental cards issued on that account.  Proprietary basic small business and corporate cards-in-force include basic and supplemental cards issued to employee cardmembers.  Non-proprietary cards-in-force includes all cards that are issued and outstanding under network partnership agreements, except for retail co-brand cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

(C) Prior to and including the fourth quarter of 2010, the Company did not have the data necessary to separately report Basic and Supplementary cards-in-force (CIF) for Global Network Services; therefore, all cards-in-force for Global Network Services was reported as Basic CIF. Starting in the first quarter of 2011, as the necessary data became available, the Company began to separately report Basic and Supplementary CIF for Global Network Services.  The Company has accordingly revised prior periods to conform with the current period presentation.

(D) This calculation is designed to reflect pricing at merchants accepting general purpose American Express cards.  It represents the percentage of billed business (both proprietary and Global Network Services) retained by the Company from merchants it acquires, prior to payments to third parties unrelated to merchant acceptance.

(E) Average basic cardmember spending and average fee per card are computed from proprietary card activities only.  Average fee per card is computed based on net card fees, including the amortization of deferred direct acquisition costs, plus card fees included in interest and fees on loans (including related amortization of deferred direct acquisition costs), divided by average worldwide proprietary cards-in-force.  The card fees related to cardmember loans included in interest and fees on loans were $68 million for the quarter ended June 30, 2011, $64 million for the quarter ended March 31, 2011, $63 million for the quarter ended December 31, 2010, $58 million for the quarter ended September 30, 2010 and $48 million for the quarter ended June 30, 2010.  The adjusted average fee per card, a non-GAAP measure, is computed in the same manner, but excludes amortization of deferred direct acquisition costs (a portion of which is charge card related and included in net card fees and a portion of which is lending related and included in interest and fees on loans).  The amount of amortization excluded for these periods were $56 million for the quarter ended June 30, 2011, $54 million for the quarter ended March 31, 2011, $51 million for the quarter ended December 31, 2010, $49 million for the quarter ended September 30, 2010 and $56 million for the quarter ended June 30, 2010.  The Company presents adjusted average fee per card because the Company believes this metric presents a useful indicator of card fee pricing across a range of its proprietary card products.

10

(Preliminary)
American Express Company
Selected Statistical Information (continued)
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Worldwide cardmember receivables:
Total receivables	$	40.1		$	37.7		$	37.3		$	35.1		$	34.6
Loss reserves (millions):
Beginning balance	$	421		$	386		$	364		$	440		$	498
Provisions for losses on authorized transactions (A)		119			160			147			53			55
Net write-offs		(128	)		(132	)		(117	)		(116	)		(121	)
Other		3			7			(8	)		(13	)		8
Ending balance	$	415		$	421		$	386		$	364		$	440
% of receivables		1.0	%		1.1	%		1.0	%		1.0	%		1.3	%
Net write-off rate (principal only) - USCS (B)		1.5	%		1.7	%		1.4	%		1.6	%		1.6	%
Net write-off rate (principal and fees) - USCS (B)		1.7	%		1.8	%		1.6	%		1.8	%		1.8	%
30 days past due as a % of total - USCS		1.7	%		1.8	%		1.5	%		1.7	%		1.5	%
Net loss ratio (as a % of charge volume) - ICS/GCS		0.09	%		0.09	%		0.09	%		0.09	%		0.10	%
90 days past billing as a % of total - ICS/GCS		0.8	%		0.8	%		0.9	%		0.8	%		1.0	%
Worldwide cardmember loans:
Total loans	$	58.7		$	57.8		$	60.9		$	57.2		$	57.3
30 days past due loans as a % of total		1.6	%		1.9	%		2.1	%		2.5	%		2.8	%
Loss reserves (millions):
Beginning balance	$	2,921		$	3,646		$	4,318		$	4,866		$	5,314
Provisions for losses on authorized transactions		146			(139	)		16			239			520
Net write-offs - principal		(457	)		(535	)		(630	)		(728	)		(867	)
Net write-offs - interest and fees		(54	)		(61	)		(72	)		(81	)		(92	)
Other		4			10			14			22			(9	)
Ending balance	$	2,560		$	2,921		$	3,646		$	4,318		$	4,866
Ending Reserves - principal	$	2,488		$	2,839		$	3,551		$	4,210		$	4,743
Ending Reserves - interest and fees	$	72		$	82		$	95		$	108		$	123
% of loans		4.4	%		5.1	%		6.0	%		7.5	%		8.5	%
% of past due		273	%		263	%		287	%		302	%		307	%
Average loans	$	58.5		$	58.5		$	58.5		$	57.4		$	57.5
Net write-off rate (principal only) (B)		3.1	%		3.7	%		4.3	%		5.1	%		6.0	%
Net write-off rate (principal, interest and fees) (B)		3.5	%		4.1	%		4.8	%		5.6	%		6.7	%
Net interest income divided by average loans (C) (D)		7.9	%		7.9	%		8.1	%		8.2	%		8.3	%
Net interest yield on cardmember loans (C)		9.0	%		9.2	%		9.3	%		9.5	%		9.6	%

(A)  Represents loss provisions for cardmember receivables consisting of principal (resulting from authorized transactions) and fee reserve components.

(B)  The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(C)  See Appendix III for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(D)  This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

11

(Preliminary)
U.S. Card Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,				Percentage
	2011		2010		Inc/(Dec)
Revenues
Discount revenue, net card fees and other	$	2,696	$	2,496		8	%
Interest income		1,263		1,315		(4	)
Interest expense		200		204		(2	)
Net interest income		1,063		1,111		(4	)
Total revenues net of interest expense		3,759		3,607		4
Provisions for losses		228		519		(56	)
Total revenues net of interest expense after provisions for losses		3,531		3,088		14
Expenses
Marketing, promotion, rewards and cardmember services		1,689		1,410		20
Salaries and employee benefits and other operating expenses		942		857		10
Total		2,631		2,267		16
Pretax segment income		900		821		10
Income tax provision		235		305		(23	)
Segment income	$	665	$	516		29

12

(Preliminary)
U.S. Card Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Card billed business	$	106.8		$	94.6			13	%
Total cards-in-force (millions)		40.4			39.6			2	%
Basic cards-in-force (millions)		30.1			29.5			2	%
Average basic cardmember spending (dollars)	$	3,567		$	3,212			11	%
U.S. Consumer Travel:
Travel sales (millions)	$	1,000		$	840			19	%
Travel commissions and fees/sales		8.4	%		7.9	%
Total segment assets	$	85.8		$	80.8			6	%
Segment capital (millions) (A)	$	8,155		$	5,997			36	%
Return on average segment capital (B)		34.4	%		26.4	%
Return on average tangible segment capital (B)		36.6	%		28.7	%
Cardmember receivables:
Total receivables	$	19.2		$	17.3			11	%
30 days past due as a % of total		1.7	%		1.8	%
Average receivables	$	18.4		$	17.1			8	%
Net write-off rate (principal only) (C)		1.5	%		1.6	%
Net write-off rate (principal and fees) (C)		1.7	%		1.8	%
Cardmember loans:
Total loans	$	49.9		$	49.0			2	%
30 days past due loans as a % of total		1.5	%		2.7	%
Average loans	$	49.7		$	49.1			1	%
Net write-off rate (principal only) (C)		3.2	%		6.2	%
Net write-off rate (principal, interest and fees) (C)		3.5	%		6.8	%
Net interest income divided by average loans (D) (E)		8.6	%		9.1	%
Net interest yield on cardmember loans (D)		8.7	%		9.3	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(C) The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(D) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(E) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

13

(Preliminary)
U.S. Card Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
Revenues
Discount revenue, net card fees and other	$	2,696	$	2,486	$	2,606	$	2,501	$	2,496
Interest income		1,263		1,294		1,330		1,334		1,315
Interest expense		200		203		208		210		204
Net interest income		1,063		1,091		1,122		1,124		1,111
Total revenues net of interest expense		3,759		3,577		3,728		3,625		3,607
Provisions for losses		228		47		111		274		519
Total revenues net of interest expense after provisions for losses		3,531		3,530		3,617		3,351		3,088
Expenses
Marketing, promotion, rewards and cardmember services		1,689		1,718		1,533		1,477		1,410
Salaries and employee benefits and other operating expenses		942		902		1,025		903		857
Total		2,631		2,620		2,558		2,380		2,267
Pretax segment income		900		910		1,059		971		821
Income tax provision		235		355		359		376		305
Segment income	$	665	$	555	$	700	$	595	$	516

14

(Preliminary)
U.S. Card Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Card billed business	$	106.8		$	96.1		$	103.4		$	95.2		$	94.6
Total cards-in-force (millions)		40.4			40.1			39.9			39.9			39.6
Basic cards-in-force (millions)		30.1			29.8			29.7			29.7			29.5
Average basic cardmember spending (dollars)	$	3,567		$	3,231		$	3,480		$	3,219		$	3,212
U.S. Consumer Travel:
Travel sales	$	1.0		$	0.8		$	0.7		$	0.8		$	0.8
Travel commissions and fees/sales		8.4	%		7.9	%		8.8	%		8.6	%		7.9	%
Total segment assets	$	85.8		$	81.2		$	91.3		$	81.1		$	80.8
Segment capital (A)	$	8.2		$	8.0		$	7.4		$	7.0		$	6.0
Return on average segment capital (B)		34.4	%		35.1	%		35.0	%		32.5	%		26.4	%
Return on average tangible segment capital (B)		36.6	%		37.6	%		37.8	%		35.1	%		28.7	%
Cardmember receivables:
Total receivables	$	19.2		$	17.6		$	19.2		$	16.5		$	17.3
30 days past due as a % of total		1.7	%		1.8	%		1.5	%		1.7	%		1.5	%
Average receivables	$	18.4		$	17.9		$	17.5		$	16.9		$	17.1
Net write-off rate (principal only) (C)		1.5	%		1.7	%		1.4	%		1.6	%		1.6	%
Net write-off rate (principal and fees) (C)		1.7	%		1.8	%		1.6	%		1.8	%		1.8	%
Cardmember loans:
Total loans	$	49.9		$	49.2		$	51.6		$	48.7		$	49.0
30 days past due loans as a % of total		1.5	%		1.8	%		2.1	%		2.5	%		2.7	%
Average loans	$	49.7		$	49.6		$	49.8		$	49.1		$	49.1
Net write-off rate (principal only) (C)		3.2	%		3.7	%		4.4	%		5.2	%		6.2	%
Net write-off rate (principal, interest and fees) (C)		3.5	%		4.1	%		4.8	%		5.7	%		6.8	%
Net interest income divided by average loans (D) (E)		8.6	%		8.9	%		8.9	%		9.1	%		9.1	%
Net interest yield on cardmember loans (D)		8.7	%		9.1	%		9.1	%		9.3	%		9.3	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(C)  The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(D)  See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(E) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

15

(Preliminary)
International Card Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,				Percentage
	2011		2010		Inc/(Dec)
Revenues
Discount revenue, net card fees and other	$	1,112	$	864		29	%
Interest income		347		342		1
Interest expense		108		99		9
Net interest income		239		243		(2	)
Total revenues net of interest expense		1,351		1,107		22
Provisions for losses		78		90		(13	)
Total revenues net of interest expense after provisions for losses		1,273		1,017		25
Expenses
Marketing, promotion, rewards and cardmember services		493		376		31
Salaries and employee benefits and other operating expenses		584		450		30
Total		1,077		826		30
Pretax segment income		196		191		3
Income tax provision		35		36		(3	)
Segment income	$	161	$	155		4

16

(Preliminary)
International Card Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Card billed business	$	31.5		$	25.5			24	%
Total cards-in-force (millions)		15.1			15.0			1	%
Basic cards-in-force (millions)		10.4			10.4			-	%
Average basic cardmember spending (dollars)	$	3,032		$	2,449			24	%
International Consumer Travel:
Travel sales (millions)	$	328		$	262			25	%
Travel commissions and fees/sales		7.6	%		8.0	%
Total segment assets	$	28.2		$	20.6			37	%
Segment capital (millions) (A)	$	3,041		$	2,022			50	%
Return on average segment capital (B)		24.1	%		22.8	%
Return on average tangible segment capital (B)		40.1	%		30.7	%
Cardmember receivables:
Total receivables	$	6.9		$	5.6			23	%
90 days past billing as a % of total		1.0	%		1.0	%
Net loss ratio (as a % of charge volume)		0.15	%		0.15	%
Cardmember loans:
Total loans	$	8.8		$	8.3			6	%
30 days past due loans as a % of total		2.1	%		3.0	%
Average loans	$	8.8		$	8.3			6	%
Net write-off rate (principal only) (C)		2.9	%		4.9	%
Net write-off rate (principal, interest and fees) (C)		3.6	%		5.8	%
Net interest income divided by average loans (D) (E)		10.9	%		11.7	%
Net interest yield on cardmember loans (D)		10.7	%		11.4	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(C) The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(D) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(E) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

17

(Preliminary)
International Card Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,		March 31,		December 31,		September 30,			June 30,
	2011		2011		2010		2010			2010
Revenues
Discount revenue, net card fees and other	$	1,112	$	989	$	1,010	$	926		$	864
Interest income		347		325		346		342			342
Interest expense		108		106		118		105			99
Net interest income		239		219		228		237			243
Total revenues net of interest expense		1,351		1,208		1,238		1,163			1,107
Provisions for losses		78		5		80		64			90
Total revenues net of interest expense after provisions for losses		1,273		1,203		1,158		1,099			1,017
Expenses
Marketing, promotion, rewards and cardmember services		493		407		458		428			376
Salaries and employee benefits and other operating expenses		584		556		598		540			450
Total		1,077		963		1,056		968			826
Pretax segment income		196		240		102		131			191
Income tax provision (benefit)		35		51		3		(13	)		36
Segment income	$	161	$	189	$	99	$	144		$	155

18

(Preliminary)
International Card Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Card billed business	$	31.5		$	28.4		$	30.9		$	27.1		$	25.5
Total cards-in-force (millions)		15.1			15.0			15.0			15.0			15.0
Basic cards-in-force (millions)		10.4			10.4			10.4			10.4			10.4
Average basic cardmember spending (dollars)	$	3,032		$	2,735		$	2,971		$	2,609		$	2,449
International Consumer Travel:
Travel sales	$	0.3		$	0.3		$	0.3		$	0.3		$	0.3
Travel commissions and fees/sales		7.6	%		7.6	%		8.7	%		7.9	%		8.0	%
Total segment assets	$	28.2		$	26.7		$	25.3		$	21.9		$	20.6
Segment capital (A)	$	3.0		$	3.0		$	2.2		$	2.1		$	2.0
Return on average segment capital (B)		24.1	%		25.8	%		25.1	%		23.6	%		22.8	%
Return on average tangible segment capital (B)		40.1	%		39.4	%		34.8	%		32.1	%		30.7	%
Cardmember receivables:
Total receivables	$	6.9		$	6.5		$	6.7		$	6.2		$	5.6
90 days past billing as a % of total		1.0	%		1.0	%		1.0	%		1.0	%		1.0	%
Net loss ratio (as a % of charge volume)		0.15	%		0.15	%		0.15	%		0.14	%		0.15	%
Cardmember loans:
Total loans	$	8.8		$	8.5		$	9.3		$	8.5		$	8.3
30 days past due loans as a % of total		2.1	%		2.4	%		2.3	%		2.8	%		3.0	%
Average loans	$	8.8		$	8.8		$	8.7		$	8.3		$	8.3
Net write-off rate (principal only) (C)		2.9	%		3.2	%		4.0	%		4.3	%		4.9	%
Net write-off rate (principal, interest and fees) (C)		3.6	%		3.9	%		4.7	%		5.1	%		5.8	%
Net interest income divided by average loans (D) (E)		10.9	%		10.1	%		10.4	%		11.3	%		11.7	%
Net interest yield on cardmember loans (D)		10.7	%		10.0	%		10.6	%		11.1	%		11.4	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(C) The Company presents a net write-off rate based on principal losses only (i.e., excluding interest and/or fees) to be consistent with industry convention.  In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented.

(D) See Appendix IV for calculations of net interest yield on cardmember loans, a non-GAAP measure, and net interest income divided by average loans, a GAAP measure.  The Company believes net interest yield on cardmember loans is useful to investors because it provides a measure of profitability of the Company’s cardmember loan portfolio.

(E) This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

19

(Preliminary)
Global Commercial Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Revenues
Discount revenue, net card fees and other	$	1,259		$	1,076			17	%
Interest income		2			2			-
Interest expense		70			55			27
Net interest expense		(68	)		(53	)		28
Total revenues net of interest expense		1,191			1,023			16
Provisions for losses		35			28			25
Total revenues net of interest expense after provisions for losses		1,156			995			16
Expenses
Marketing, promotion, rewards and cardmember services		138			104			33
Salaries and employee benefits and other operating expenses		753			658			14
Total		891			762			17
Pretax segment income		265			233			14
Income tax provision		88			121			(27	)
Segment income	$	177		$	112			58

20

(Preliminary)
Global Commercial Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Card billed business	$	39.3		$	32.9			19	%
Total cards-in-force (millions)		7.1			7.0			1	%
Basic cards-in-force (millions)		7.1			7.0			1	%
Average basic cardmember spending (dollars)	$	5,533		$	4,712			17	%
Global Corporate Travel:
Travel sales	$	5.3		$	4.6			15	%
Travel commissions and fees/sales		7.8	%		7.6	%
Total segment assets	$	20.3		$	17.4			17	%
Segment capital (millions) (A)	$	3,794		$	3,509			8	%
Return on average segment capital (B)		16.9	%		10.9	%
Return on average tangible segment capital (B)		35.4	%		23.6	%
Cardmember receivables:
Total receivables	$	13.8		$	11.5			20	%
90 days past billing as a % of total		0.7	%		1.0	%
Net loss ratio (as a % of charge volume)		0.06	%		0.06	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

21

(Preliminary)
Global Commercial Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Revenues
Discount revenue, net card fees and other	$	1,259		$	1,177		$	1,130		$	1,128		$	1,076
Interest income		2			2			2			2			2
Interest expense		70			58			65			58			55
Net interest expense		(68	)		(56	)		(63	)		(56	)		(53	)
Total revenues net of interest expense		1,191			1,121			1,067			1,072			1,023
Provisions for losses		35			23			30			21			28
Total revenues net of interest expense after provisions for losses		1,156			1,098			1,037			1,051			995
Expenses
Marketing, promotion, rewards and cardmember services		138			125			112			109			104
Salaries and employee benefits and other operating expenses		753			708			785			716			658
Total		891			833			897			825			762
Pretax segment income		265			265			140			226			233
Income tax provision		88			81			37			76			121
Segment income	$	177		$	184		$	103		$	150		$	112

22

(Preliminary)
Global Commercial Services
Selected Statistical Information
(Billions, except percentages and where indicated)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Card billed business	$	39.3		$	36.6		$	35.9		$	33.2		$	32.9
Total cards-in-force (millions)		7.1			7.1			7.1			7.0			7.0
Basic cards-in-force (millions)		7.1			7.1			7.1			7.0			7.0
Average basic cardmember spending (dollars)	$	5,533		$	5,175		$	5,083		$	4,734		$	4,712
Global Corporate Travel:
Travel sales	$	5.3		$	4.9		$	4.6		$	4.2		$	4.6
Travel commissions and fees/sales		7.8	%		7.4	%		8.3	%		9.3	%		7.6	%
Total segment assets	$	20.3		$	20.5		$	18.1		$	18.4		$	17.4
Segment capital (A)	$	3.8		$	3.6		$	3.7		$	3.6		$	3.5
Return on average segment capital (B)		16.9	%		15.5	%		12.6	%		12.3	%		10.9	%
Return on average tangible segment capital (B)		35.4	%		33.5	%		27.1	%		26.6	%		23.6	%
Cardmember receivables:
Total receivables	$	13.8		$	13.3		$	11.3		$	12.2		$	11.5
90 days past billing as a % of total		0.7	%		0.7	%		0.8	%		0.8	%		1.0	%
Net loss ratio (as a % of charge volume)		0.06	%		0.06	%		0.06	%		0.06	%		0.06	%

(A) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(B) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

23

(Preliminary)
Global Network & Merchant Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Revenues
Discount revenue, fees and other	$	1,183		$	1,004			18	%
Interest income		1			1			-
Interest expense		(55	)		(46	)		20
Net interest income		56			47			19
Total revenues net of interest expense		1,239			1,051			18
Provisions for losses		13			12			8
Total revenues net of interest expense after provisions for losses		1,226			1,039			18
Expenses
Marketing, promotion, rewards and cardmember services		213			209			2
Salaries and employee benefits and other operating expenses		526			425			24
Total		739			634			17
Pretax segment income		487			405			20
Income tax provision		163			144			13
Segment income	$	324		$	261			24

24

(Preliminary)
Global Network & Merchant Services
Selected Statistical Information
(Billions, except percentages and where indicated)	Quarters Ended
	June 30,						Percentage
	2011			2010			Inc/(Dec)
Global Card billed business (A)	$	207.6		$	175.3			18	%
Global Network & Merchant Services:
Total segment assets	$	16.7		$	11.3			48	%
Segment capital (millions) (B)	$	1,955		$	1,762			11	%
Return on average segment capital (C)		61.5	%		63.8	%
Return on average tangible segment capital (C)		66.5	%		65.3	%
Global Network Services (D):
Card billed business	$	29.3		$	21.6			36	%
Total cards-in-force (millions)		31.4			27.3			15	%

(A) Global Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards.  In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(D) Since third quarter of 2010, for non-proprietary retail co-brand partners, Global Network Services metrics exclude cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

25

(Preliminary)
Global Network & Merchant Services
Selected Income Statement Data
(Millions)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Revenues
Discount revenue, fees and other	$	1,183		$	1,088		$	1,115		$	1,048		$	1,004
Interest income		1			1			1			1			1
Interest expense		(55	)		(48	)		(56	)		(51	)		(46	)
Net interest income		56			49			57			52			47
Total revenues net of interest expense		1,239			1,137			1,172			1,100			1,051
Provisions for losses		13			21			15			13			12
Total revenues net of interest expense after provisions for losses		1,226			1,116			1,157			1,087			1,039
Expenses
Marketing, promotion, rewards and cardmember services		213			166			172			208			209
Salaries and employee benefits and other operating expenses		526			474			604			469			425
Total		739			640			776			677			634
Pretax segment income		487			476			381			410			405
Income tax provision		163			163			122			158			144
Segment income	$	324		$	313		$	259		$	252		$	261

26

(Preliminary)
Global Network & Merchant Services
Selected Statistical Information
(Billions, except percentages and where indicated)	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Global Card billed business (A)	$	207.6		$	187.9		$	197.7		$	179.3		$	175.3
Global Network & Merchant Services:
Total segment assets	$	16.7		$	14.2		$	13.6		$	12.3		$	11.3
Segment capital (B)	$	2.0		$	1.9		$	1.9		$	1.8		$	1.8
Return on average segment capital (C)		61.5	%		62.1	%		61.6	%		61.2	%		63.8	%
Return on average tangible segment capital (C)		66.5	%		66.1	%		64.3	%		62.7	%		65.3	%
Global Network Services (D):
Card billed business	$	29.3		$	26.0		$	26.9		$	23.1		$	21.6
Total cards-in-force (millions)		31.4			30.2			29.0			27.1			27.3

(A) Global Card billed business includes activities (including cash advances) related to proprietary cards, cards issued under network partnership agreements (non-proprietary billed business), and certain insurance fees charged on proprietary cards.  In-store spend activity within retail co-brand portfolios in Global Network Services, from which the Company earns no revenue, is not included in non-proprietary billed business.

(B) Segment capital represents capital allocated to a segment based upon specific business operational needs, risk measures, and regulatory capital requirements.

(C) Refer to Appendix II for components of return on average segment capital and return on average tangible segment capital, a non-GAAP measure.

(D) Since third quarter of 2010, for non-proprietary retail co-brand partners, Global Network Services metrics exclude cardmember accounts which have no out-of-store spend activity during the prior 12 month period.

27

(Preliminary)
American Express Company
Components of Return on Average Equity (ROE), Return on Average Common Equity (ROCE),
and Return on Average Tangible Common Equity (ROTCE)
Appendix I
(Millions)
	For the Twelve Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
ROE
Net income	$	4,663		$	4,349		$	4,057		$	3,711		$	3,258
Average shareholders' equity	$	16,508		$	15,564		$	14,755		$	14,307		$	13,863
Return on average equity (A)		28.2	%		27.9	%		27.5	%		25.9	%		23.5	%
Reconciliation of ROCE and ROTCE
Net income	$	4,663		$	4,349		$	4,057		$	3,711		$	3,258
Preferred shares dividends and related accretion		-			-			-			-			-
Earnings allocated to participating share awards and other		55			52			51			47			42
Net income attributable to common shareholders	$	4,608		$	4,297		$	4,006		$	3,664		$	3,216
Average shareholders' equity	$	16,508		$	15,564		$	14,755		$	14,307		$	13,863
Average preferred shares		-			-			-			-			-
Average common shareholders' equity	$	16,508		$	15,564		$	14,755		$	14,307		$	13,863
Average goodwill and other intangibles		3,744			3,487			3,334			3,234			3,157
Average tangible common shareholders' equity	$	12,764		$	12,077		$	11,421		$	11,073		$	10,706
Return on average common equity (A)		27.9	%		27.6	%		27.2	%		25.6	%		23.2	%
Return on average tangible common equity (B)		36.1	%		35.6	%		35.1	%		33.1	%		30.0	%

(A)  Return on average equity and return on average common equity are calculated by dividing one year period net income/net income attributable to common shareholders by one year average total shareholders’ equity/average common shareholders' equity, respectively.

(B) Return on average tangible common equity is computed in the same manner as return on average common equity except the computation of average tangible common shareholders' equity, a non-GAAP measure, excludes from average total shareholders' equity, average goodwill and other intangibles of $3.7 billion for the quarter ended June 30, 2011, $3.5 billion for the quarter ended March 31, 2011, $3.3 billion for the quarter ended December 31, 2010, $3.2 billion for the quarter ended September 30, 2010 and $3.2 billion for the quarter ended June 30, 2010.  The Company believes that return on average tangible common equity is a useful measure of the profitability of its business.

28

(Preliminary)
American Express Company
Components of Return on Average Segment Capital (ROSC) and Return on Average Tangible Segment Capital (ROTSC)
Appendix II
(Millions)
	For the Twelve Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
U.S. Card Services
Segment income	$	2,515		$	2,366		$	2,225		$	1,936		$	1,498
Average segment capital	$	7,315		$	6,746		$	6,350		$	5,966		$	5,664
Average goodwill and other intangibles		446			457			459			454			447
Average tangible segment capital	$	6,869		$	6,289		$	5,891		$	5,512		$	5,217
Return on average segment capital (A)		34.4	%		35.1	%		35.0	%		32.5	%		26.4	%
Return on average tangible segment capital (A)		36.6	%		37.6	%		37.8	%		35.1	%		28.7	%
International Card Services
Segment income	$	593		$	587		$	537		$	507		$	495
Average segment capital	$	2,464		$	2,279		$	2,136		$	2,146		$	2,174
Average goodwill and other intangibles		987			788			592			567			561
Average tangible segment capital	$	1,477		$	1,491		$	1,544		$	1,579		$	1,613
Return on average segment capital (A)		24.1	%		25.8	%		25.1	%		23.6	%		22.8	%
Return on average tangible segment capital (A)		40.1	%		39.4	%		34.8	%		32.1	%		30.7	%
Global Commercial Services
Segment income	$	614		$	549		$	450		$	442		$	388
Average segment capital	$	3,628		$	3,548		$	3,581		$	3,587		$	3,571
Average goodwill and other intangibles		1,895			1,908			1,923			1,924			1,930
Average tangible segment capital	$	1,733		$	1,640		$	1,658		$	1,663		$	1,641
Return on average segment capital (A)		16.9	%		15.5	%		12.6	%		12.3	%		10.9	%
Return on average tangible segment capital (A)		35.4	%		33.5	%		27.1	%		26.6	%		23.6	%
Global Network & Merchant Services
Segment income	$	1,148		$	1,085		$	1,025		$	966		$	963
Average segment capital	$	1,866		$	1,746		$	1,664		$	1,578		$	1,510
Average goodwill and other intangibles		140			105			70			37			36
Average tangible segment capital	$	1,726		$	1,641		$	1,594		$	1,541		$	1,474
Return on average segment capital (A)		61.5	%		62.1	%		61.6	%		61.2	%		63.8	%
Return on average tangible segment capital (A)		66.5	%		66.1	%		64.3	%		62.7	%		65.3	%

(A) Return on average segment capital is calculated by dividing one year period segment income by one year average segment capital.  Return on average tangible segment capital is computed in the same manner as return on average segment capital except the computation of average tangible segment capital, a non-GAAP measure, excludes average goodwill and other intangibles.  The Company believes that return on average tangible segment capital is a useful measure of the profitability of its business.

29

(Preliminary)
American Express Company
Net Interest Yield on Cardmember Loans
Appendix III
(Millions)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
Net interest income	$	1,151		$	1,134		$	1,190		$	1,184		$	1,188
Average loans (billions)	$	58.5		$	58.5		$	58.5		$	57.4		$	57.5
Adjusted net interest income (A)	$	1,313		$	1,326		$	1,371		$	1,381		$	1,379
Adjusted average loans (billions) (B)	$	58.2		$	58.3		$	58.4		$	57.4		$	57.4
Net interest income divided by average loans (C)		7.9	%		7.9	%		8.1	%		8.2	%		8.3	%
Net interest yield on cardmember loans (D)		9.0	%		9.2	%		9.3	%		9.5	%		9.6	%

(A)  Represents net interest income allocated to the Company's cardmember loan portfolio excluding the impact of card fees on loans and balance transfer fees attributable to the Company's cardmember loans.

(B)  Represents average cardmember loans excluding the impact of deferred card fees, net of deferred direct acquisition costs of cardmember loans.

(C)  This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(D)  Net interest yield on cardmember loans, a non-GAAP measure, is computed by dividing adjusted net interest income by adjusted average loans, computed on an annualized basis.  The calculation of net interest yield on cardmember loans includes interest that is deemed uncollectible. For all presentations of net interest yield on cardmember loans, reserves and net write-offs related to uncollectible interest are recorded through provisions for losses - cardmember loans; therefore, such reserves and net write-offs are not included in the net interest yield calculation.

30

(Preliminary)
U. S. Card Services and International Card Services
Net Interest Yield on Cardmember Loans
Appendix IV
(Millions)
	Quarters Ended
	June 30,			March 31,			December 31,			September 30,			June 30,
	2011			2011			2010			2010			2010
USCS:
Net interest income	$	1,063		$	1,091		$	1,122		$	1,124		$	1,111
Average loans (billions)	$	49.7		$	49.6		$	49.8		$	49.1		$	49.1
Adjusted net interest income (A)	$	1,080		$	1,112		$	1,143		$	1,150		$	1,145
Adjusted average loans (billions) (B)	$	49.5		$	49.6		$	49.8		$	49.2		$	49.2
Net interest income divided by average loans (C)		8.6	%		8.9	%		8.9	%		9.1	%		9.1	%
Net interest yield on cardmember loans (D)		8.7	%		9.1	%		9.1	%		9.3	%		9.3	%
ICS:
Net interest income	$	239		$	219		$	228		$	237		$	243
Average loans (billions)	$	8.8		$	8.8		$	8.7		$	8.3		$	8.3
Adjusted net interest income (A)	$	233		$	214		$	228		$	231		$	234
Adjusted average loans (billions) (B)	$	8.7		$	8.7		$	8.5		$	8.2		$	8.2
Net interest income divided by average loans (C)		10.9	%		10.1	%		10.4	%		11.3	%		11.7	%
Net interest yield on cardmember loans (D)		10.7	%		10.0	%		10.6	%		11.1	%		11.4	%

(A)  Represents net interest income allocated to the Company's cardmember loan portfolio excluding the impact of card fees on loans and balance transfer fees attributable to the Company's cardmember loans.

(B)  Represents average cardmember loans excluding the impact of deferred card fees, net of deferred direct acquisition costs of cardmember loans.

(C)  This calculation includes elements of total interest income and total interest expense that are not attributable to the cardmember loan portfolio, and thus is not representative of net interest yield on cardmember loans. The calculation includes interest income and interest expense attributable to investment securities and other interest-bearing deposits as well as to cardmember loans, and interest expense attributable to other activities, including cardmember receivables.

(D)  Net interest yield on cardmember loans, a non-GAAP measure, is computed by dividing adjusted net interest income by adjusted average loans, computed on an annualized basis.  The calculation of net interest yield on cardmember loans includes interest that is deemed uncollectible. For all presentations of net interest yield on cardmember loans, reserves and net write-offs related to uncollectible interest are recorded through provisions for losses - cardmember loans; therefore, such reserves and net write-offs are not included in the net interest yield calculation.

31