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BRIEFLY

July 28, 1987

American Express said it will buy back up to 9.3% of its common stock in the next two to three years, potentially doubling the number of shares the company has repurchased since late 1985. The company's directors authorized the repurchase of up to 40 million of the company's 429 million common shares outstanding, depending on market conditions. Based on Monday's closing price, the latest buyback would be worth $1.4 billion.

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