AMERICAN EXPRESS CO — Director's Dealing 2005

May 11, 2005

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2005-05-02

Reporting Person: Squeri Stephen J (EVP, Chief Information Officer)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	63779	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$29.302	2008-02-22	Common Stock (23800)		Direct
Employee Stock Option (right to buy)	$29.302	2008-02-22	Common Stock (9100)		Direct
Employee Stock Option (right to buy)	$35.292	2009-02-21	Common Stock (21000)		Direct
Employee Stock Option (right to buy)	$43.667	2010-02-27	Common Stock (24000)		Direct
Employee Stock Option (right to buy)	$57.969	2010-07-23	Common Stock (12000)		Direct
Employee Stock Option (right to buy)	$44.465	2011-02-25	Common Stock (65000)		Direct
Employee Stock Option (right to buy)	$43.755	2006-02-25	Common Stock (7973)		Direct
Employee Stock Option (right to buy)	$36.49	2012-01-27	Common Stock (70000)		Direct
Employee Stock Option (right to buy)	$33.403	2013-01-26	Common Stock (63000)		Direct
Employee Stock Option (right to buy)	$42.42	2007-02-23	Common Stock (7420)		Direct
Employee Stock Option (right to buy)	$50.24	2014-01-25	Common Stock (66000)		Direct
Employee Stock Option (right to buy)	$53.565	2008-02-22	Common Stock (5209)		Direct
Employee Stock Option (right to buy)	$53.565	2007-07-27	Common Stock (2011)		Direct
Employee Stock Option (right to buy)	$53.565	2007-02-23	Common Stock (689)		Direct
Employee Stock Option (right to buy)	$51.065	2008-02-22	Common Stock (16481)		Direct
Employee Stock Option (right to buy)	$52.285	2015-01-23	Common Stock (23000)		Direct
Employee Stock Option (right to buy)	$52.285	2015-01-23	Common Stock (60000)		Direct

Footnotes

F1: 8,200 of these options became exercisable on 2/23/2003; the balance became exercisable on 2/23/2004.

F2: 3,600 of these options became exercisable on 2/23/2000; the balance became exercisable on 2/23/2001.

F3: These options will vest in three equal annual installments beginning on the date shown as "Date Exercisable" subject to continuous employment.

F4: These options will vest in four equal annual installments beginning on the date shown as "Date Exercisable" subject to continuous employment.