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AAA & American Express Renew Travelers Cheque Partnership

18 February 1998

AAA & American Express Renew Travelers Cheque Partnership

    ORLANDO, Fla., Feb. 18 -- AAA and American Express today
announced the extension of their long-standing and highly successful
partnership by signing a new five-year travelers cheque agreement.
AAA is the world's largest seller of American Express(R) Travelers Cheques,
with sales of more than $2 billion in 1997.  The first AAA-American Express
Travelers Cheque agreement was signed in 1983.
    "Over the years, the American Express Travelers Cheque has become a symbol
of safety and security for AAA's 40 million members who took more than 280
million overnight leisure trips in 1997 -- many with travelers cheques in-
hand," said Mark Brown, executive vice president, AAA Association and Club
Services.
    "We are delighted to continue, as well as build upon this relationship,"
said Henry Autry, senior vice president and general manager of American
Express' Travelers Cheque Group.
    "Together we plan to introduce new and innovative product enhancements to
make travelers cheques an even more valuable element of AAA membership," Autry
said.

    Highlights of the agreement include:
    *  No-fee American Express Travelers Cheques and Cheques For Two(R) for
AAA members.  Cheques For Two allow two travel companions to sign and use the
same set of cheques;
    *  Fee-free encashment of American Express Travelers Cheques for AAA
members in all currencies at all American Express-owned or operated foreign
exchange offices outside of North America.  In addition, AAA members will not
pay a fee to convert American Express Travelers Cheques into other foreign
denomination travelers cheques.  The familiar AAA Show Your Card & Save(R)
decal will be displayed at these American Express offices to remind members of
this service;
    *  Increased support of AAA club marketing and advertising promotions;
    *  Establishment of a Travelers Cheque Advisory Group to provide strategic
direction as it relates to marketing positioning and collateral materials,
operational issues and the sharing of best practices with other AAA clubs.
    American Express Travelers Cheques are available worldwide in
10 currencies, are accepted virtually everywhere that cash is accepted and are
refundable if lost or stolen.  Refunds can be made as quickly as 24 hours.
    AAA is a not-for-profit federation of 97 clubs providing its 40 million
members in the U.S. and Canada with a complete line of travel, financial,
insurance and automotive-related services.

SOURCE  American Automobile Association