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New Macy's American Express® Card Provides Brand New Privileges and BenefitsPopular Star Rewards program remains in place
CINCINNATI, Ohio, August 19, 2010 --

Macy's and American Express today announced the launch of the new Macy's American Express® Card, which will provide Macy's American Express Cardholders attractive, in-store benefits when shopping at Macy's, as well as special out-of-store dining, travel and retail offers. Cardholders will also be able to participate in the Daily Wish program from American Express and access new emergency assistance referral services. Additionally, Macy's Preferred American Express Cardholders can enjoy a special suite of premium benefits with the new Macy's Preferred Travel service.

The new co-branded Macy's American Express Card will be issued by Citi, which also issues the Macy's store credit card.

"With the Macy's American Express Card, our Cardholders can get the same great rewards that they have always had when shopping at Macy's, plus exciting new benefits and services through our co-brand partnership with American Express," said Tom Cole, Macy's chief administrative officer.

"Our Cardholders will continue to enjoy Macy's widely acclaimed Star Rewards program and can now also earn rewards and take advantage of great new offers when shopping outside of Macy's. For example, in celebration of our launch, rewards earning Cardholders can earn double rewards through the end of this year on gas, grocery and drugstore purchases. We will also provide many more exciting offers to our Cardholders in the future," added Cole.

Macy's American Express Cardholders can enjoy:

  • Macy's savings offers through the Star Rewards program,
  • 15% back from the total bill at participating restaurants from September 6 through December 31, 2010*,
  • Double rewards through the end of 2010 on gas, grocery and drugstore purchases (for rewards earning Cardholders)**,
  • Daily Wish from American Express, which brings great, hand-picked products -- from travel to electronics -- at up to 50% off and
  • Emergency assistance referral services when travelling across the country or around the world.

Macy's Preferred American Express Cardholders can access additional premium benefits, such as:

  • Unlimited $25 Star Rewards Certificates -- Cardholders get rewards when they use their Card at Macy's (3% rewards) and everywhere American Express is welcome (1% rewards), excluding gift cards and cash advances -- and
  • Macy's Preferred Travel service, which delivers thousands of dollars in exceptional savings through Best Available Rates and complimentary room upgrades at hundreds of leading hotels in the U.S. and around the world and up to 25% off car rental bookings.

"This new co-brand partnership is a great win for Macy's customers, who will be able to enjoy brand new privileges and benefits from American Express," said William Stredwick, vice president and general manager, American Express Global Network Services. "In addition, as the exclusive network for the new Macy's co-branded cards, American Express can further strengthen its position as the network of choice for loyal, high-spending customers."

Qualifying Macy's Visa cards will be replaced with a new Macy's American Express Card. The new cards will be sent to customers throughout the fall season and in advance of existing expiration dates, and customers are being notified of this change prior to receiving their new cards.

Existing balances, account information, credit limits and loyalty program rewards points will remain the same under a new account number. Customers who hold a Macy's store credit card (not co-branded, also issued by Citi) will see no change, and those cards will continue to be accepted only at Macy's.

Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2009 sales of $23.5 billion. The company operates about 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com and bloomingdales.com. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc. Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has established 128 partnerships in 130 markets around the world. Learn more at www.americanexpress.com/gns.

All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, changes in expected synergies, cost savings and non-recurring charges, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.


NOTE:

*Cardholders who register will receive an automatic statement credit of 15% of their total dining bill (including taxes and tip) whenever they use their Macy's American Express Card at participating locations, until they reach a cumulative maximum credit of $25.00.

**Through the end of 2010, rewards earning Cardholders can receive double rewards (2%) when using their Macy's American Express Card to make out-of-store purchases at gas stations, grocery stores and drugstores.


Contacts

Nina Chang+44 (0)127 321 6826nina.y.chang@aexp.com

       
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