Swedbank and American Express sign licence agreement

Swedbank and American Express sign licence agreement Stockholm - American Express and Swedbank today announced the signing of a network license agreement. Under the terms of the license agreement Swedbank will begin issuing American Express branded cards in Sweden later this year. The cards, which will carry the American Express Blue Box logo at the bottom right corner, will be designed, issued and serviced by Swedbank, and will operate on the global American Express merchant network. "Our aim is to offer our customers the very best in financial services. This agreement with American Express will enable us to do just that and builds upon our position in the marketplace as the largest card-issuer in Sweden and as a premium provider of financial services", said Markus Edstrom of Swedbank. Peter Wright, Head of Global Network services, American ExpressEurope, added "We are delighted to have formed a Card issuing agreement with Swedbank, a partner whose innovation is well renowned in the marketplace. I am confident that through our combined strenghths we will bring superior value to customers in the Swedish marketplace. " This latest agreement forms part of the American Express' global strategy to expand its business through partnerships with banks in selected markets. To date American Express has signed agreements with 58 different Card-issuing partners around the world. Swedbank was created by the merger in 1997 of Föreningsbanken (Co- operative Bank) and Sparbanken Sverige (Savings Bank) to create the largest Bank in Sweden with over 695 branches thoughout Sweden. American Express Travel Related Services Company, Inc., a wholly-owned subsidiary of the American Express Company -- a diversified worldwide travel and financial services company founded in 1850. It provides card, Travelers Cheque, travel and financial services in over 160 countries. Contact: Atalia Da Silva American Express phone + 44 171 976 4677 Kennet Karlsson, Swedbank phone + 46 8 5859 2341 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/13/20000113BIT00520/bit0001.doc http://www.bit.se/bitonline/2000/01/13/20000113BIT00520/bit0002.pdf