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AMERICAN EXPRESS BROKERAGE ANNOUNCES PRICING CHANGES

MINNEAPOLIS, September 18, 2000 -- American Express Brokerage announced today that it will make the following changes to its commission schedule:

“We are making these changes to ensure that we can continue to provide the level of service and advice that our customers have come to expect,” said Francois Odouard, vice president, American Express Brokerage. “The new free trading structure will actually affect a very small percentage of our current clients. More than 98 percent of our clients already trade within these limits. The other pricing changes still place us in a very competitive position relative to similar online services.”

The former commission schedule was as follows: Accounts with $100,000 or more in total assets received free online equity trades and accounts with $25,000 to $99,999 in total assets received unlimited free online equity buys. Also, online market and online limit/stop orders at lower asset levels were $14.95 and telephone orders placed through service representatives were $44.95.

The new pricing schedule will take effect October 30.

American Express Brokerage plans to add new enhancements to its service early next year, including additional equity research and portfolio analysis tools.

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 $286 billion in assets. Through a network of more than 11,000 financial advisors and its online brokerage, the company provides comprehensive, long-term financial planning and high quality financial products to more than 2.3 million clients throughout the United States.


For trades placed over 3,000 shares, add $0.03 for each share purchased over 3,000. Asset balance (defined as the equity value of cash, money market funds, mutual funds, stocks, options and bonds) is reviewed periodically to determine commission rates. All commission rates and fees are subject to change. Other fees may apply.

American Express Financial Advisors Inc. Member NASD, SIPC. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer.

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