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This is provided for informational purposes only and does not constitute investment advice.

Your VOTE is important! VOTE your shares at the following website: www.proxyvote.com or by telephone at 1-800-454-8683.

Ticker:	AXP
Shareholder Meeting Date:	04/26/2010
Total Shares Voted:	3,169,107

Number	Description /Reason	Vote
1.	Elect Directors CalPERS is withholding from director nominee K. Chenault for serving on an excessive number of public company boards.	Withhold from director nominee K. Chenault
2.	Ratify Auditor	For
3.	Advisory Vote to Ratify Executive Compensation CalPERS believes the company has not appropriately linked executive compensation and financial performance.	Against
4. Shareholder Proposal	Provide for Cumulative Voting CalPERS believes shareowners should have the right to cumulate votes in the election of directors.	For
5. Shareholder Proposal	Ability to Call Special Meetings CalPERS believes shareowners should be able to call special meetings.	For
6. Shareholder Proposal	Stock Retention/Holding Period CalPERS is a firm supporter of stock ownership guidelines that require executives to satisfy minimum levels of ownership after leaving the company. It should be noted the proposal mandates that executives hold 75% of their equity awards for two years after retirement or termination. CalPERS prefers that guideline specifics be designed and implemented through the company?s Independent Compensation Committee.	For