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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 21, 1995
AMERICAN EXPRESS COMPANY
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(Exact name of registrant as specified in its charter)
New York 1-7657 13-4922250
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification)
American Express Tower, World Financial Center
New York, New York 10285
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, (212) 640-2000
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
On September 21, 1995, American Express Company issued the
following press release:
NEW YORK, September 21, 1995 -- "Several major financial
institutions have expressed an interest in acquiring the American Express
Bank, a wholly-owned subsidiary of ours. As a result we have begun holding
discussions about a possible sale. The inquiries were from companies who
believe the Bank could be a better fit with their organizations than with
ours, and a more important part of their future growth plans.
"We have begun to review whether these inquiries represent an
opportunity to realize value for our shareholders. That review will look at
the value that might be realized from a sale, versus the longer term potential
of the Bank as part of American Express.
"During the past few years, the Bank has exited off-strategy businesses,
addressed problems in the loan portfolio, improved credit quality and
strengthened its compliance program. It has also begun to standardize
operating systems, outsource information technology activities and reduce
operating expenses.
"The Bank is headquartered in New York, although its operations are
largely in the overseas markets. It provides commercial, correspondent,
private banking and consumer financial services to clients in 36 countries.
"No final decision has yet been made about a sale. Details of any
discussions with other institutions will be confidential and American Express
said it would not have further comment until it has reached a definitive
conclusion about whether to sell and to whom. The discussions and related
process are expected to take several months to complete."
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SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
AMERICAN EXPRESS COMPANY
By: /s/ Stephen P. Norman
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Name: Stephen P. Norman
Title: Secretary
Dated: September 21, 1995
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