AXS Accsys Technologies Plc

RNS No 7067j
AMERICAN EXPRESS COMPANY
5 May 1999

                BANCO DEL PROGRESO TO ISSUE AMERICAN EXPRESS CARDS
                          IN THE DOMINICAN REPUBLIC

             Latest Step in Global Bank Strategy for American Express

Santo Domingo, Dominican Republic - May 5, 1999 -- Banco del Progreso and
American Express today ammounced an Independent Operator agreement in which
Banco del Progreso will issue American Express Cards in the Dominican Republic
for local use in pesos, the country's currency.  Cardmembers will be able to
use the Card at American Express establishments in the Dominican Republic and
throughout the world.
          "Banco del Progreso is proud to have been selected by American Express
to be it partner in issuing the American Express card in the Dominican
Republic," said Pedro Castillo, Chief Executive Officer of Banco del Progreso.
"This agreement will allow us to offer our clients an outstanding and wide
variety of financial services through one of the most important credit card
companies in the world."
          "We are delighted to be able to add Banco del Progreso to our growing
family of Latin American and Caribbean partners," said James Li, president of
American Express' Global Network Services Group.  "Through strategic
arrangements like this one with Banco del Progreso, we are matching the global
strengths of the American Express brand and worldwide service with the
marketing and operations experience of strong local partners committed to the
same kind of high quality service standards American Express offers its
customers around the world." 
          Under the agreement announced today, Banco del Progreso will conduct 
the American Express card issuing business as well as the merchant acquiring 
and processing business in the Dominican Republic.  Banco del Progreso will be
responsible for all operations supporting the American Express Card - including
billing and payment systems, accounting, customer servicing, credit and fraud 
control, and charge authorizations as well as marketing the Card in the 
Dominican Republic. 
          Banco del Progreso will also take over responsibility for servicing 
local merchants accepting the American Express Card in the Dominican Republic. 
As a result of this agreement, the number of merchants accepting the American 
Express Card in the Dominican Republic will be expanded, significantly 
enhancing the relevance and utility of the Card tio customers living in or 
visiting the country. 
          Dominican customers will have access to the American Express 
international service network and other travel and financial services.  The 
company's network has more than 1,700 owned and representative Travel Service 
Offices worldwide and more than 227,000 ATMs in its ExpressCash network. 
          American Express currently provides a U.S.dollar-denominated American
Express Card to Dominican customers.  Current American Express Cardmembers 
will have the option of converting their Card to the new product, retaining 
their dollar-denominated Card, or carying both Cards.  American Express 
Travelers Cheque and travel businesses are unaffected by this agreement. 
          Banco del Progreso, founded in 1974, is among the largest financial
institutions in the Dominican Republic.  It has 23 offices in 15 cities in the
Dominican Republic, and one of the most extensive ATM networks in the country,
all of which provide services to major financial and tourist centers. 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.


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