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                 AMERICAN EXPRESS CREDIT CORPORATION
            (a wholly-owned subsidiary of American Express
                Travel Related Services Company, Inc.)

                              EXHIBIT 99

         EXCERPT FROM AMERICAN EXPRESS COMPANY'S QUARTERLY REPORT
             ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 1999


Year 2000

The Company's Year 2000 (Y2K) compliance effort is divided into two
initiatives.  The first, known as "Millenniax," relates to mainframe
and other technological systems maintained by the American Express
Technologies organization (AET).  The second, known as "Business T,"
relates to the technological assets that are owned, managed or
maintained by the Company's individual business and staff units.  Our 
plans for remediation of the Y2K issue include the following program 
phases: (i) employee awareness and mobilization, (ii) inventory 
collection and assessment, (iii) impact analysis, (iv) 
remediation/decommission, (v) testing and (vi) implementation. With 
respect to systems maintained by the Company, the first three phases 
referred to above have largely been completed for both Millenniax and 
Business T.  In addition, the remediation/decommission phase for 
critical systems is nearly complete. As of March 31, 1999, for 
Millenniax, the remediation/decommission, testing and implementation 
phases for critical and non-critical systems in total are 91%, 85% and
74% complete, respectively. For Business T, such phases are 94%, 85%
and 84% complete, respectively.

The Company's cumulative costs since inception of the Y2K initiatives
were $427 million through March 31, 1999 and are estimated to be in
the range of $90 - $116 million for the remainder through 2000.* These
costs, which are expensed as incurred, relate to both Millenniax and
Business T, and have not had, nor are they expected to have, a
material adverse impact on the Company's results of operations or
financial condition.*  Y2K costs related to Millenniax represent 6%
and 1% of the AET budget for the years 1999 and 2000, respectively.*

The Company's major businesses are heavily dependent upon internal
computer systems, and all have significant interaction with systems of
third parties, both domestically and internationally.  The Company is
working with key external parties, including merchants, clients,
counterparties, vendors, exchanges, utilities, suppliers, agents and
regulatory agencies to mitigate the potential risks to us of Y2K.  As part 
of our overall compliance program, the Company is actively communicating 
with third parties through face-to-face meetings and correspondence, on 
an ongoing basis, to ascertain their state of readiness.  Although numerous 
third parties have indicated to us in writing that they are addressing 
their Y2K issues on a timely basis, the readiness of third parties overall 
varies across the spectrum. The failure of external parties to resolve 
their own Y2K issues in a timely manner could result in a material financial 
risk to the Company.  

At this point, with remediation and testing of individual internal
systems substantially complete, the Company's primary focus is on
testing of systems on an integrated basis, independent validation of
such testing and completing Y2K contingency plans.  The contingency
planning effort is a full-scale initiative that includes both internal
and external experts under the guidance of a Company-wide steering
committee.  Our contingency plans, which are based in part on an
assessment of the magnitude and probability of potential risks,
primarily focus on proactive steps to prevent Y2K-related failures
from occurring, or if they should occur, detecting them quickly,
minimizing their impact and expediting their repair.  The Y2K
contingency plans supplement disaster recovery and business continuity
plans already in place, and include measures such as selecting
alternative suppliers and channels of distribution and developing our
own technology infrastructure in lieu of those provided by third
parties.

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Such plans encompass the creation of both remediation and business
resumption contingency plans, generally in accordance with guidelines 
established by the Federal Financial Institutions Examination Council. 
For the Company's critical systems that are not yet Y2K compliant,
we are on track to achieving remediation by the second quarter of 
1999*; to the extent that unforeseen circumstances arise that result
in non-compliance of any such systems, remediation contingency plans
are also being developed to mitigate such risk. Our business resumption
contingency planning effort is divided into four phases: (i) establishing
organizational planning guidelines; (ii) completing a business impact
analysis; (iii) developing the business resumption contingency plans
and (iv) validating and verifying the business resumption contingency
plans. The first two of these phases have essentially been completed,
and have identified and assessed the need for Y2K business resumption
contingency plans for the Company's most critical core business 
processes. Such processes include, but are not limited to, credit 
authorization, Cardmember billing, merchant payment, client investments, 
funds transfer, securities settlement, and travel reservations. The 
contingency plans also address third party systems that the Company's 
businesses interface with and rely upon, such as international 
telecommunications networks, global financial payment and clearing 
systems, and airline and other travel systems. The Company expects 
that the development phase of its business resumption contingency plans 
will be substantially complete by the second quarter of 1999.* The final 
phase, which will include independent validation and verification of 
these plans, will take place during the third quarter of 1999.* The Company 
will continue to refine its contingency planning activities throughout 
1999 as additional information related to our exposures is gathered.* 
To the extent that there are Y2K failures that affect major internal 
processes or third party systems that the Company relies upon, including 
but not limited to those described above, such failures could have a 
material impact on the Company and its businesses or subsidiaries 
through business interruption or shutdown, financial loss, reputational 
damage and legal liability to third parties.

For a more complete discussion of the Y2K issue, see pages 22 and 23
of the Company's 1998 annual report to shareholders, which is
incorporated by reference in the Company's 1998 10-K report.


* Statements in this Y2K discussion marked with an asterisk are
forward-looking statements which are subject to risks and
uncertainties.  Important factors that could cause results to differ
materially from these forward-looking statements include, among other
things, the ability of the Company to successfully identify all
systems containing two-digit codes, the nature and amount of
programming required to fix the affected systems, the costs of labor
and consultants related to such efforts, the continued availability of
such resources, and the ability of third parties that interface with
the Company to successfully address their Y2K issues.

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