Following is a truncated version of the American Express press release. For the complete version, Click Here.

FOR IMMEDIATE RELEASE

MINNEAPOLIS, MN - August 5, 2002 - American Express Retirement Services' Financial Education and Planning Services group today announced the Personalized Retirement Evaluation Program with redesigned personalized education tools. The program provides employees in 401(k) or other defined contribution plans an improved visual picture of their retirement profile, which can serve to better motivate employees to take necessary actions to make sure they are on track to meet retirement goals.

The Personalized Retirement Evaluation Program consists of four unique retirement planning tools driven by a technology that generates a variety of different savings profiles. The tool that best fits each employee is electronically matched based on an employee's savings profile. An employee's own payroll and plan information is then used to generate a meaningful analysis of their retirement savings needs, whether it be participation or deferral rate, goal-setting or asset allocation. Employees receive this personalized, printed statement directly in the mail.

Effective use of full-color graphics and text makes the information easy to understand. The program offers a variety of cover photos organized by visual themes. Most important, each of the program's four products has a clear message motivating employees to take action.

"It's hard to match the effectiveness of proactively and personally communicating with an employee about their savings needs and opportunities," said Rusty Field, vice president of American Express's Financial Education and Planning Services. "Providing tools like the Personalized Retirement Evaluation Program can be an excellent way to motivate people to take action and make changes, if necessary, to stay on track toward their retirement goal."

American Express Financial Advisors is one of the nation's leading financial planning companies. It is part of the American Express Financial Corporation, which currently owns or manages more than $238 billion in assets. Through a network of more than 11,300 financial advisors and its online services, the company provides comprehensive, long-term financial planning and high quality financial products to more than 2.6 million clients throughout the United States.

American Express Retirement Services, a service group of American Express Financial Advisors, is a provider of services for defined contribution and 401(k) plans with total combined assets of more than $31 billion and a participant base of more than 1.2 million. For more information on American Express Retirement Services, and FEPS, visit http://www.americanexpress.com/sponsors.

Registered investments and financial planning services are offered through American Express Financial Advisors Inc., Member NASD. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer. Retirement plan and trust related services are offered through American Express Trust Company.

Joel Karasik joel@archimedes.com
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