American Express finalizes acquisition of Harbor Payments

New York, January 12, 2007 – American Express has completed its acquisition of Harbor Payments, Inc. closing the deal on December 31, following regulatory approval. Terms were not disclosed.

American Express last month announced an agreement to buy the Atlanta-based provider of industry-leading e-invoice and e-payment solutions for corporations and their suppliers. The move supports American Express’ strategy to offer a suite of solutions, named S2SSM, to enable companies to automate their “source-to-settle” processes – by integrating steps in their entire electronic purchasing cycle. S2S will help companies improve the efficiency of their supply chain, reduce processing costs and increase control and compliance throughout the purchasing process.

In the coming months American Express will announce details of the first S2S module, an electronic invoice and payment solution.

About American Express Global Commercial Card
Through its Global Commercial Card group, American Express provides the Corporate Card™, Corporate Purchasing Solutions™ and other expense management services to mid-sized, large and global companies worldwide. In the US, it is the leading issuer of commercial cards, serving more than 50% of the Fortune 500 as well as tens of thousands of mid-sized companies. American Express issues local-currency commercial cards in 36 countries, and International Dollar Corporate Cards in an additional 85 countries.
More information can be found at http://www.americanexpress.com/corporateservices
The American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, insurance and international banking.