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American Express MoneyPlan Card release

American Express Joins Union Member Benefit Programme with MoneyPlan Credit Card

Auckland, April 23, 2001 A group of New Zealand’s leading trade unions announced today the launch of a new Affinity Card in association with American Express International (NZ) Inc. - the MoneyPlan Credit Card.

The unions involved represent the interests of 160,000 union members, and have an established Member Benefit Programme offering exclusive products in the areas of insurance, superannuation, home loans, small loans and travel, among others.

The MoneyPlan Credit Card will be available to members of The Public Service Association (PSA), The New Zealand Amalgamated Engineering, Printing & Manufacturing Union (NZAEPMU), The New Zealand Education Institute (NZEI), The Association of Staff in Tertiary Education (ASTE), The Association of University Staff in New Zealand (AUS) and The Tertiary Institutes Allied Staff Association (TIASA).

“When we began looking for a new MoneyPlan Credit Card we knew we had to find a card that was superior to any other card on the market,” said Tony Woods, a spokesman for the Unions.

“American Express was prepared to offer our members the most competitive Credit Card available, providing a range of services that far exceeded those offered by other credit card companies,” he said.

The MoneyPlan Credit Card offers union members:

· Competitive 15.49% everyday interest rate after the first six months, negotiated specifically for union members.
· Introductory 8.99% interest rate on the first Balance Transfer.
· Introductory 8.99% on all purchases for the first six months.
· Free first year annual Card fee. After the first year, a $35 annual fee applies.
· Up to 1% MoneyBack on all qualifying purchases to a maximum of $1100 per year.
· Free Supplementary Cards.

American Express Country Manager Anna Hynes said Affinity is a key platform for American Express’ growth strategy, offering New Zealanders greater choice with customised products.

“People are looking for a product that speaks to their personal needs and desires, rather than a product that is meant to appeal to everyone. These are products with relevance to individuals rather than products designed for a mass market,” she said.

American Express’ Affinity programme in New Zealand has only just begun with the launch of the World Wide Fund For Nature Credit Card and the Save the Children Credit Card, earlier this year.

“We are expanding the Affinity programme to other charities, sporting groups and professional organisations.

“We are particularly excited to be working with these leading Trade Unions, which represents the largest professional Affinity group in Australasia,” she said.

(ends)

American Express is a diversified worldwide travel, financial and network services company. Founded in 1850, it is a leader in charge and credit cards, Travellers Cheques, travel, financial planning, investment products, insurance and international banking.

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