CORRECTING and REPLACING American Express OPEN and Lowe's Announce Agreement to Offer Small Business Cobrand Rewards Card

CORRECTING and REPLACING American Express OPEN and Lowe's Announce Agreement to Offer Small Business Cobrand Rewards Card

NEW YORK--(BUSINESS WIRE)-- The second graph second sentence should read: Lowe's has been a card-accepting merchant of American Express since 1982 (sted Lowe's has been a card-accepting merchant of American Express since 1999).

The corrected release reads:

AMERICAN EXPRESS OPEN AND LOWE'S ANNOUNCE AGREEMENT TO OFFER SMALL BUSINESS COBRAND REWARDS CARD

American Express OPEN and Lowe's Companies, Inc. today announced an agreement to issue a co-branded rewards card that will allow small business owners to earn points on virtually all purchases and generate valuable rewards.

The agreement brings together two of the most respected companies and valuable brands:1 American Express OPEN, the nation's leading issuer of payment card products for business owners, and Lowe's, the world's second-largest home improvement retailer, to offer an array of benefits and services that will provide exceptional value for business owners. Lowe's has been a card-accepting merchant of American Express since 1982.

"Commercial customers have been an integral part of Lowe's history, and they are essential to our future growth," said Larry D. Stone, president and chief operating officer of Lowe's. "Our agreement with American Express will offer an innovative, new financing option to our commercial customers that will provide them with benefits and rewards for their purchases and additional value for their loyalty to both of our brands."

"With more than twenty years experience in serving business owners, American Express OPEN knows that our Business Cardmembers value choice and appreciate rewards," said Susan Sobbott, president, American Express OPEN. "Lowe's commercial business customers span many industries, including property management, business maintenance, trades, and contractors. Partnering with a leading retailer serving a wide array of commercial customers represents an outstanding opportunity to offer these business owners access to working capital they need to help manage their companies."

The Card will launch broadly in the first quarter of 2010.

About American Express OPEN

American Express OPEN is dedicated exclusively to the success of small business owners and their companies. OPEN supports business owners with exceptional service. With products and services tailored to small businesses, the team delivers purchasing power, flexibility, control and rewards to help customers run their businesses. Specifically, business owner customers can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN, visit www.OPEN.com, or call 1-800-NOW-OPEN to apply for a card. Terms and conditions apply. American Express Companywww.americanexpress.com is a leading global payments, network and travel company founded in 1850.

About Lowe's

With fiscal year 2008 sales of $48.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 14 million customers a week at more than 1,675 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

1Lowe's and American Express are ranked #47 and # 29 respectively on the World's Most Admired Companies list from Fortune; Lowe's is ranked #8 on Interbrand Design Forum's The Most Valuable U.S. Retail Brands List; American Express is ranked #22 on Interbrand's Best Global Brands list.


    Source: Lowe's Companies, Inc.