EXHIBIT 99.1


                          ANNUAL SERVICER'S CERTIFICATE

                             AMERICAN EXPRESS TRAVEL
                         RELATED SERVICES COMPANY, INC.

                          AMERICAN EXPRESS MASTER TRUST

The  undersigned,  a duly authorized  representative  of American Express Travel
Related Services Company, Inc., as Servicer ("TRS"), pursuant to the Amended and
Restated Master Pooling and Servicing Agreement,  dated as of April 16, 2004 (as
amended and  supplemented),  by and among TRS,  as  Servicer,  American  Express
Centurion Bank,  American Express Bank, FSB,  and  American Express  Receivables
Financing Corporation,  each as Transferor, and The Bank of New York, as trustee
(the  "Trustee"),  does  hereby  certify  to the  best  of his  knowledge  after
reasonable investigation that:

1.  TRS is as of the date hereof the Servicer  under the  Agreement. Capitalized
terms used in this Certificate  have their respective  meanings set forth in the
Agreement.

2.  The undersigned is duly authorized  pursuant to the Agreement to execute and
deliver this Certificate to the Trustee.

3.  This Certificate is delivered pursuant to Section 3.05 of the Agreement.

4.  A review of the  activities of the Servicer  during the calendar  year ended
December 31, 2004 and of its performance under the Agreement was conducted under
my supervision.

5.  Based on such  review, to the best of my  knowledge,  the Servicer has fully
performed all its obligations under the Agreement  throughout such calendar year
and no event which,  with the giving of notice or passage of time or both, would
constitute a Servicer Default has occurred and is continuing except as set forth
in paragraph 6 below.

6.  The following is a description of each Servicer Default in  the  performance
of the Servicer's  obligations or Pay Out  Event  under  the  provisions  of the
Agreement  known to me to have been made during the calendar year ended December
31, 2004, which set forth in detail (i) the nature of each such Servicer Default
or Pay Out Event, (ii) the action taken by the Servicer,  if any, to remedy each
such  Servicer  Default or Pay Out Event,  and (iii) the current  status of each
such default: NONE.

Under the Agreement, TRS is required to enter into Lock Box Letters with the
banks holding accounts into which TRS deposits payments received from Obligors
in respect of the Accounts. There are several banks, and from time to time one
or more of them are replaced with other banks. TRS added an additional bank in
2004 and has signed a Lock Box Letter with that bank. This letter required
several rounds of negotiations and was accordingly entered into after the date
required by the Agreement. Although this was not a Servicer Default or a Pay Out
Event, it was a technical breach of the Agreement which has been fully cured. At
no time during the period in which the letter was being negotiated did any
circumstances exist that could have triggered any of the provisions of the Lock
Box Letter, nor do any such circumstances currently exist.

IN WITNESS WHEREOF, the undersigned,  a duly authorized officer of the Servicer,
has duly executed this Certificate this 31st day of March, 2005.

                                                AMERICAN EXPRESS TRAVEL
                                                RELATED SERVICES COMPANY,
                                                INC., as Servicer

                                                By:  /s/ Susanne L. Miller
                                                     ---------------------
                                                Name:  Susanne L. Miller
                                                Title: Vice President
                                                       Treasury Controller