• The new American Express Singapore
  Airlines Business Credit Card will help small and medium-sized enterprises (SMEs)
  better manage cash flow and turn business expenses into benefits
• SMEs will get up to 8.5 HighFlyer
  points for every S$1 spent -- worth up to 8.5% in savings -- and 0% interest on instalments
  over six months on Singapore Airlines flights
• Travel benefits include complimentary airport lounge
  access, accelerated upgrade to KrisFlyer Elite Gold, and Accor Plus membership with
  an annual complimentary night's stay

SINGAPORE -�Media OutReach�- 2 August 2019 -�American Express and Singapore Airlines are extending their 20-year partnership
with the launch of the American Express Singapore Airlines Business Credit Card.
This new Card will help SMEs better manage their businesses, fund their
expansion efforts, all while enjoying a number of premium travel benefits.

�

According to a survey by American
Express and Singapore Airlines, most SME owners are bullish -- with more than 74%
expecting to grow their businesses in the next 12 months. That said, more than
half of the respondents say that increasing competition and cash flow
management keep them up at night, and one in three feels challenged taking their
business overseas.

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"Our survey shows that Singapore SMEs are optimistic
about growth, but cash flow and overseas expansion are ever-present concerns,"
said Mr. Geoff Begg, Senior Vice President, Global Commercial Services for Asia
Pacific, American Express. "American Express and Singapore Airlines are
bringing the first SME business travel card to give them access to credit
terms, more savings, and a suite of travel benefits -- to support their ambitions
and help them overcome these challenges."

�

"Singapore Airlines' HighFlyer Programme was launched two
years ago to reward and support SMEs, including in their endeavours to expand
overseas," said Mr. Campbell Wilson, Senior Vice President Sales and Marketing,
Singapore Airlines. "We are excited to now partner American Express to take the
programme further with the new American Express Singapore Airlines Business
Credit Card. This new product enables SMEs to maximise their HighFlyer
privileges by earning more rewards faster, which can be redeemed for a range of
benefits that improve their bottom line even as employees themselves continue
to earn KrisFlyer miles for their own personal benefit."

�

SAVVY, FREQUENT
TRAVELERS PRIORITISING VALUE, FLEXIBILITY AND PEACE OF MIND

�

According to the SMEs Go Places Survey, SME owners travel
at least once every six weeks for business, while 70% of SMEs have employees
travelling two or more times per month. These frequent travellers prioritise value,
convenience and flexibility, with 47% citing the importance of having
complimentary travel insurance when it comes to corporate airline programmes.

�

Nine in 10 SMEs surveyed have
dealings overseas, with one in three of them citing lack of access to capital
and cash flow as key inhibitors to international expansion.

�

"SMEs have different needs and they don't always get the
same level of support as larger companies. Our survey reaffirms this as 59% of
SMEs said partnering established companies for guidance and support would have
made their expansion overseas easier. This is precisely why American Express
and Singapore Airlines are bringing the first business travel card for Singapore
SMEs to support them by turning their business expenses into rewards," said Ms.
Celine Chua, Vice President, Global Commercial Services
for Singapore, American Express.

�

To support SMEs, the American Express Singapore
Airlines Business Credit Card offers a suite of benefits:

�

REWARDS

• Earn up to 8.5 HighFlyer
  points for
  every S$1 spent on all eligible Singapore Airlines Group flights and 1.8
  HighFlyer points per S$1 for other eligible spending.
• Easily
  use HighFlyer points to offset future travel with no caps, no blackout
  periods and no restrictions through a simple, one-stop portal.
• Enjoy 0% interest on instalments
  over six months on Singapore Airlines flights (beginning in October 2019) and up to 51
  interest-free days.
• Earn
  HighFlyer points for the businesses, while employees continue to earn
  KrisFlyer miles when flying with Singapore Airlines.

TRAVEL BENEFITS

• Travel
  with peace of mind with complimentary travel insurance when travel
  tickets are purchased with the American Express Singapore Airlines Business Credit
  Card.
• Accelerate to KrisFlyer Elite
  Gold status
  with spending of S$15,000 or more on eligible spend with the Singapore Airlines
  Group in the first year of Card Membership.
• Enjoy
  two complimentary visits to 1,200 airport lounges worldwide with Priority
  Pass.
• Rest
  easy with a complimentary Accor Plus membership, which includes a
  complimentary night stay every year, up to 50% off dining across 1,100
  restaurants in Asia Pacific, and more.
• Take
  to the road with Hertz Gold Status, which gives members 10% off best
  available retail rates, one car class upgrade for rentals, and more.

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WELCOME OFFER

Card Members enjoy a bonus
of up to 50,000 HighFlyer points when they spend on the Card. This includes:

• 5,000
  first spend bonus HighFlyer points when they spend S$500 with the Singapore
  Airlines Group in the first year of their membership,
• 30,000
  welcome bonus HighFlyer points when they spend S$5,000 in the first three
  months of their membership, and
• 15,000
  annual loyalty bonus HighFlyer points when they spend S$10,000 per year on the Singapore
  Airlines Group.

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The American Express Singapore Airlines Business
Credit Card joins four existing Singapore Airlines and American Express consumer
products.

�

For
details, terms and conditions, visit http://americanexpress.com/sg/business. For more info on the
SMEs Go Places Survey, refer to the attached infographic.

ABOUT AMERICAN EXPRESS

American
Express is a globally integrated payments company, providing customers with
access to products, insights and experiences that enrich lives and build
business success.� Learn more at americanexpress.com and connect with us on facebook.com/americanexpresssingapore, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.

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ABOUT
SINGAPORE AIRLINES

The
SIA Group's history dates back to 1947 with the maiden flight of Malayan
Airways Limited. The airline was later renamed Malaysian Airways Limited and
then Malaysia-Singapore Airlines (MSA). In 1972, MSA split into Singapore
Airlines (SIA) and Malaysian Airline System. Initially operating a modest fleet
of 10 aircraft to 22 cities in 18 countries, SIA has since grown to be a
world-class international airline group.

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ABOUT SMES GO PLACES SURVEY

In June 2019, American
Express and Singapore Airlines commissioned the SMEs Go Places Survey online to
study 200 Singapore SME senior executives' outlook, experience going overseas,
and their business travel habits. The respondents' businesses have annual
revenues of under S$20 million.