AMERICAN EXPRESS CO — Director's Dealing 2004

Oct 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2004-10-05

Reporting Person: HOUSE DAVID C (Member, Global Leadership Team)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-05	Common Shares	M	62500	$27.458	Acquired	222179	Direct
2004-10-05	Common Shares	F	42928	$52.72	Disposed	179251	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-05	Employee Stock Option (right to buy)	$27.458	M	62500	Disposed	2008-09-27	Common Shares (62500)	Direct
2004-10-05	Employee stock option (right to buy)	$52.72	A	42928	Acquired	2008-09-27	Common Shares (42928)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	6682	Indirect
Common Shares	1110	Indirect

Footnotes

F1: The reported disposition represents the surrender of shares to cover the cost of exercise and tax obligations arising from the ex
ercise of employee stock options.

F2: Shares held in reporting person's account under the Company's Incentive Savings Plan as of October 1, 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.