(PHOENIX, Ariz., Sept. 3, 2004) - On Thursday, Sept. 9 American Express officials will present members of the Phoenix College Achieving a College Education (ACE) program with a grant of more than $18,000 during an American Express Company Card presentation at noon in the Willo Room at Phoenix College. The grant will assist in funding the ACE Personal Money Management (PM2), a program created and implemented by the Phoenix College Alumni Association (PCAA) and the Half-Century Club.

In an effort to reduce the high school dropout rate and increase the number of baccalaureate degrees achieved by underserved populations who fall in the mid-range academically, Phoenix College unveiled PC-ACE in Spring 2001. Since then, PC-ACE has traditionally targeted at-risk high school students from low income, inner-city communities in Phoenix. By serving as a critical link between high school and college, PC-ACE provides a supportive, two-year college experience for underserved, non-traditional junior and senior high school students who would not normally consider obtaining a degree an achievable goal.

To strengthen its mission, PC-ACE partnered with the Phoenix College Alumni Association (PCAA) and the Half-Century Club, to develop and implement PM2, a tool to enhance the students' overall ACE experience with knowledge and information on financial literacy in 2002. PM2 became an award-winning program and is nationally recognized by the Council for Advancement and Support of Education (CASE) for its goals. PM2 goals include:

--Raising awareness about basic financial literacy;
--Instilling in students and parents the importance of developing personal money management skills; and,
--Learning how to apply personal money management skills to help fund a college education.

PM2 , which enters its third year this semester, draws its curriculum from an established financial literacy program provided by the National Endowment for Financial Education (NEFE) known as "NEFE High School." Since PM2 started in 2002, more than 100 PC-ACE students and their parents have participated in personal money management workshops. The workshops are held on various Saturdays throughout the year and students are expected to attend them in addition to their ACE classes.

"Preparing for the escalating costs associated with going to college is something that high school students and their families face everyday," said Phoenix College director of Alumni & Development, Frank Luna. "Phoenix College and the Alumni Association are privileged to be launching this important partnership with American Express to help ACE students learn basic money management skills and how this knowledge can help them fund their college education."

"American Express is pleased to invest in the PM2 Program and support these students. At the same time, we know this investment will also help to make our community stronger," said JoEllen Lynn, community affairs manager for American Express.

For more information on the Phoenix College ACE Program, please call 602-285-7391 or 602-285-7667.

About American Express
American Express Company is a diversified worldwide travel and financial services company founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, investment products, insurance and international and online banking. Recognized as One of the Top Companies to Work for in the Valley, American Express currently has over 7,000 employees in Arizona. Find out more about American Express at http://www.americanexpress.com/home.

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