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Non-Tech : American Express (AXP)

AXP 365.82

+1.5%

3:59 PM EST

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To: Valueman who wrote (22)	8/7/1997 11:27:00 AM
From: Carey Thompson	of 179

Notes from a long term owner of AXP, these may help provide history: Historical notes: American Express Qtr4 of 1996 - AXP takes charges of $125 mill to restructure intl business and $13 mill for early retirement of debt Oct 1996 - Board authorizes the repurchase of up to 40 mill shs of com stk over next 2-3 yrs. May 1996 Nippon Life Ins converts its convertible pfd stock into 4.7 mill shs of AXP common During 1994 AXP repurchased and cancelled 4.7 mill shs of com stk @avg cost of $27.67/sh Nov 1994 I sold my 10 shares of Lehman Bros @ 15; must adjust my cash basis for other AXP shs; proceeds were $150.00 May 1994 Lehman Brothers was spun off to shareholders @ 1 sh of Lehman for every 5 shs of AXP;fiscal years 94,93,92 restated to exclude Lehman Brothers, all other yrs include Lehman Bros 1991 - 92 I invested $1,084.31 in AXP via its Dividend Reinvest. Plan. I bought my 1st sh using the Moneypaper's buy 1 sh to get in the DRiP plan. I am very pleased with this method of investing because it allows me to invest $$$s in a stock when I have it w/o paying broker's commission aka dollar cost averaging. At this stage in my investing career its the way to go. avg price= $21.77

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