AMERICAN EXPRESS CO — Director's Dealing 2004

Nov 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2004-11-23

Reporting Person: CHENAULT KENNETH I (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-12	Common Shares	G	314	—	Disposed	1218010	Direct
2004-11-23	Common Shares	S	14700	$55.95	Disposed	1203310	Direct
2004-11-23	Common Shares	S	2300	$55.97	Disposed	1201010	Direct
2004-11-23	Common Shares	S	1000	$55.96	Disposed	1200010	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	21348	Indirect
Common Shares	17543	Indirect
Common Shares	40764	Indirect
Common Shares	27600	Indirect
Common Shares	42536	Indirect

Footnotes

F1: Shares held in reporting person's account under the Company's Incentive Savings Plan as of November 23, 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.