OPEN from American Express® and BankAtlantic Announce Agent Bank Alliance to Help Serve Small Business Customers

Agreement Marks OPEN from American Express’ First Florida Strategic Partnership

NEW YORK.- OPEN from American Express® and BankAtlantic announced today that BankAtlantic will be the first financial institution in Florida to offer American Express® Business Cards. The agent bank agreement calls for the companies to jointly market small business charge and credit cards that carry the BankAtlantic and American Express brands. Beginning this month, the companies will market two co-branded Cards to BankAtlantic’s small business customers in nearly 100 stores in Florida. BankAtlantic stores are located in Broward, Miami-Dade, Palm Beach, Martin, and St. Lucie counties, as well as the Tampa Bay and Orlando markets.

BankAtlantic’s small business customers will be eligible to apply for the Business Gold Rewards Card, which provides Cardmembers with automatic enrollment in the Membership Rewards® program(1) from American Express which allows them to earn valuable rewards points toward travel, dining, entertainment and retail purchases. In addition they will be able to apply for the SimplyCash(SM) Business Card(2), which automatically offers up to 5% cash back annually on gas, office supplies, and wireless purchases and 1% on virtually all other purchases. Both Cards include access to the OPEN Savings® program(3), which gives Cardmembers automatic savings when using their Card for purchases with partners such as FedExKinkos®, Hertz®, Hyatt Hotels & Resorts®, Delta Airlines®, JetBlue Airways® and more.

American Express will issue the new Cards and service the accounts. BankAtlantic and OPEN from American Express will market the Cards through BankAtlantic’s in-store, direct mail, telemarketing and online channels.

The agent bank alliance brings together OPEN from American Express, a leading issuer of small business credit and charge card products in the United States, with one of the largest financial institutions based in the state of Florida. BankAtlantic holds assets of more than $6 billion.

“Our partnership with BankAtlantic allows us to broaden our reach to additional Cardmembers and share our industry-leading products and capabilities with small business customers in Florida,” said Raymond Joabar, Senior Vice President, OPEN from American Express. “BankAtlantic is an excellent partner for OPEN and our alliance will allow small business customers to enjoy best-in-class, co-branded card products from two trusted brands.”

“We believe these products are an excellent complement to BankAtlantic’s existing business product offerings,” said Nona Wilgus, Senior Vice President from BankAtlantic. “BankAtlantic is excited to partner with American Express and provide these offerings to our customers.”