American Express 1998 Annual Report Download - page 60

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5858
INFORMATION RELATING TO FORWARD-LOOKING STATEMENTS
This Annual Report includes forward-looking statements.
These are subject to certain risks and uncertainties, includ-
ing those identified below, which could cause actual results
to differ materially from such statements. The words
“believe,” “expect,” “anticipate,” “optimistic,” “intend,”
“aim,” “will” and similar expressions identify forward-
looking statements. Readers are cautioned not to place
undue reliance on these forward-looking statements,
which speak only as of the date on which they are made.
American Express Company undertakes no obligation to
update publicly or revise any forward-looking statements.
Factors that could cause actual results to differ materially
from the forward-looking statements, including the
Company’s goals referred to herein, include but are not
limited to the inability of American Express Company
to: (i) extend the value of the American Express brand to
the financial services industry, (ii) succeed in its ongoing
reengineering efforts and in achieving best-in-class eco-
nomics while also maintaining high service levels,
(iii) increase distribution channels for financial, travel,
card and other products and services, (iv) invest success-
fully in, and compete at the leading edge of, technology
across all businesses, (v) expand its overall revenues, which
depend in part on its ability to increase consumer and/or
business spending on its credit and charge cards, gain mar-
ket share and develop new or enhanced products that
capture a greater share of customers’ total spending on
American Express Cards and other cards issued on its
network, and enhance significantly its international oper-
ations, (vi) retain Cardmembers in consumer lending
products after low introductory rate periods have expired,
(vii) sustain premium discount rates, (viii) increase mer-
chant coverage, (ix) manage effectively consumer debt,
business loans and other credit exposures in the U.S. and
abroad, including unseasoned balances in its new lending
portfolios, all of which could be affected by general eco-
nomic conditions, including interest rates, consumer
credit trends, the rate of bankruptcies and movements in
currency valuations, (x) increase AEFA’s field force and
improve its mutual fund performance, (xi) adequately
address its Y2K issues, successfully identify its systems
containing two digit codes, the nature and amount of
programming required to fix the affected systems and the
costs of labor and consultants related to such effort, con-
tinue to have access to such resources and ensure that
third parties that interface with the Company successfully
address their Y2K issues and (xii) successfully develop
and implement a single company-wide interactive strategy.