AXS Accsys Technologies Plc

RNS No 2505p
AMERICAN EXPRESS
12th June 1998


                  AMERICAN EXPRESS AND GENERALE BANK ANNOUNCE
                           JOINT VENTURE IN BELGIUM

June 11, 1998, Brussels-American Express and Generale Bank, the leading 
financial institution in Belgium, announced today that they are forming a joint
venture to issue American Express cards in Belgium.

Under the agreement announced today, the existing American Express Card 
portfolio and the license to issue cards in Belgium will transfer to the new
company, Alpha Card c.v.b.a.. The joint venture will acquire customers through
Generale Bank's branch office network and will also offer cards to non-bank
customers.  It will begin issuing cards later this year.

"We are very pleased to be joining American Express in this joint venture," 
said Peter Fimmers, Marketing Manager, Consumer Banking, at Generale Bank.  "The
new entity will allow us to offer a wider choice of products to our customers.
By expanding our card portfolio, particularly in the premium and business
segments, we will further enhance our position in the card market in Belgium."

"We welcome Generale Bank to our growing family of bank partners," said James
Cracchiolo, President, American Express Travel Related Services International.
"This unique partnership is particularly well-suited to the Belgian marketplace
and offers tremendous growth potential for both companies.  It matches the
global strengths of the American Express brand and customer service with the
formidable presence and strong customer relationships of Generale Bank, thus
bringing together one of the world's leading banks with one of the world's
leading card issuers."

The announcement today represents an extension of American Express' global 
strategy of opening its merchant network and partnering with other card issuers.
American Express has grown the number of card-issuing partners to 33 announced
worldwide.

The new Belgian company will offer a full range of consumer cards-Personal 
(Green), Gold,Platinum-as well as Small Business and some Corporate Cards.  
American Express will continue to handle acquisition and servicing of merchants
and will provide customer servicing to the new joint venture entity.

The new alliance builds on a card distribution agreement that was announced
last month between the two companies.

Generale Bank will hold a majority share in the new company, which will be
managed by executives from both corporations.  Peter Fimmers, Marketing
Manager, Consumer Banking at Generale Bank will lead the new operation, which
will be headquartered in Brussels.

Generale Bank is Belgium's leading bank, providing finacial services to more 
than 2 million private and business customers through its network of 1100
branches.

American Express Travel Related Services Company, Inc. a wholly-owned subsidiary
of the American Express Company - a diversified worldwide travel and
financial services company founded in 1850.  It provides card, Travelers Cheque,
travel and financial services in over 160 countries.


END

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