AMERICAN EXPRESS CO — Director's Dealing 2004

Mar 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2004-03-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-19	Common Shares	M	90750.000	$22.146	Acquired	266682.000	Direct
2004-03-19	Common Shares	M	126000.000	$29.302	Acquired	392682.000	Direct
2004-03-19	Common Shares	S	136000.000	$51.40	Disposed	256682.000	Direct
2004-03-19	Common Shares	F	57003.000	$51.385	Disposed	199679.000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-19	Employee Stock Option (right to buy)	$22.146	M	90750.000	Disposed	2007-02-23	Common Shares (90750.000)	Direct
2004-03-19	Employee Stock Option (right to buy)	$29.302	M	126000.000	Disposed	2008-02-22	Common Shares (126000.000)	Direct
2004-03-19	Employee Stock Option (right to buy)	$51.385	A	57003.000	Acquired	2005-02-26	Common Shares (57003.000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	6410.000	Indirect
Common Shares	1110.000	Indirect

Footnotes

F1: Shares held in reporting person's account under the Company's Incentive Savings Plan as of February 27, 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.

F2: These options vested in three equal annual installments beginning on the date shown as "Date Exercisable."