AMERICAN EXPRESS CO — Director's Dealing 2004

Dec 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2004-12-22

Reporting Person: KELLY ALFRED F JR (Member, Global Leadership Team)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-22	Common Shares	S	22500	$56.92	Disposed	242726	Direct
2004-12-22	Common Shares	S	1100	$56.93	Disposed	241626	Direct
2004-12-22	Common Shares	S	900	$56.94	Disposed	240726	Direct
2004-12-22	Common Shares	S	417	$56.95	Disposed	240309	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	4465	Indirect

Footnotes

F1: Shares held in reporting person's account under the Company's Incentive Savings Plan as of December 20, 2004. This plan uses unit accounting, and the number of shares that a participant is deemed to hold varies with the unit price of the Company pooled stock fund.