American Express and Deutsche Bank Sign Agreement

American Express Corporate Cards and Business Travel Accounts provide companies with a flexible payment solution for their employees. They are designed to help corporate customers to better manage their travel and entertainment expenses and identify opportunities for cost savings. The cooperation links the world-leading corporate card product and the global platform of American Express with the strong distribution power of Deutsche Bank to its target customers. It enables corporations to manage all their travel and entertainment expenses globally in an efficient and comprehensive manner. A high quality management information tool supports the worldwide consolidation of all expenses made by all respective employees and provides detailed reporting according to the customers’ needs. Earlier this year, Deutsche Bank agreed to issue American Express corporate cards to its own employees. The expense management solution will be available to Deutsche Bank corporate customers in July 2004.