SOURCE: Holzer Holzer & Fistel, LLC

June 27, 2008 11:15 ET

Holzer Holzer & Fistel, LLC Announces That a Shareholder Derivative Lawsuit Has Been Filed Against Certain Officers and Directors of American Express (NYSE: AXP)

ATLANTA, GA--(Marketwire - June 27, 2008) - A shareholder derivative lawsuit has been filed in the Supreme Court of the State of New York, County of New York, against certain officers and directors of American Express Company ("American Express") (NYSE: AXP), asserting violations of relevant state laws.

According to the complaint, American Express and certain of its officers, directors and employees engaged in knowing, repeated, and systemic violations of criminal and regulatory laws, including laws governing bank secrecy and money laundering activities. The complaint further alleges that after federal and state law enforcement authorities uncovered the serious and knowing control failures of the Company, American Express entered into settlement agreements with authorities that included the filing of deferred criminal charges against the Company and the payment of tens of millions of dollars in fines.

Holzer Holzer & Fistel, LLC is investigating whether, as a result of the foregoing allegations, there are violations of the Employee Retirement Income Security Act of 1974 ("ERISA") by the American Express and certain of its officers, directors, and employees. If you have or have had an individual account with the American Express Incentive Savings Plan 401(k), and your account holds or held American Express common stock, you may have legal claims under ERISA.

Current and former American Express Incentive Savings Plan 401(k) participants with questions concerning their legal rights are invited to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is a national law firm located in Atlanta, Georgia that dedicates its practice to vigorous representation of aggrieved shareholders and investors in litigation nationwide, including shareholder and ERISA class actions and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.