AMERICAN EXPRESS CO — Director's Dealing 2006

Nov 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN EXPRESS CO (AXP)
CIK: 0000004962
Period of Report: 2006-11-13

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-13	Common Stock	M	68544	$38.224	Acquired	329639	Direct
2006-11-13	Common Stock	M	55632	$38.224	Acquired	385271	Direct
2006-11-13	Common Stock	M	125000	$38.922	Acquired	510271	Direct
2006-11-13	Common Stock	F	200777	$58.945	Disposed	309494	Direct
2006-11-13	Common Stock	S	16000	$58.91	Disposed	293494	Direct
2006-11-13	Common Stock	S	5500	$58.9	Disposed	287994	Direct
2006-11-13	Common Stock	S	18899	$58.89	Disposed	269095	Direct
2006-11-13	Common Stock	S	8000	$58.87	Disposed	261095	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-13	Employee Stock Option (Right to Buy)	$38.224	M	68544	Disposed	2010-02-27	Common Stock (68544)	Direct
2006-11-13	Employee Stock Option (Right to Buy)	$38.224	M	55632	Disposed	2010-02-28	Common Stock (55632)	Direct
2006-11-13	Employee Stock Option (Right to Buy)	$38.922	M	125000	Disposed	2011-02-25	Common Stock (125000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4617	Indirect

Footnotes

F1: Shares held in reporting person's account under the Company's Incentive Savings Plan. 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."