AMERICAN EXPRESS <AXP> MAY SELL SHEARSON STAKE
American Express Co said it and its
Shearson Lehman Brothers Inc subsidiary have been holding talks
on the possible equity investment in Shearson Lehman by <Nippon
Life Insurance Co> of Japan.
    The company said, "The discussions have led to a general
understanding by which Nippon Life would purchase a 13 pct
equity investment in Shearson Lehman for approximately 530 mln
dlrs and American Express, Shearson Lehman and Nippon Life
would explore mutually advantageous, nonexclusive business and
investment opportunities."
    The company said a definitive agreement on the matter is
subject to a number of conditions, including approval of the
American Express board and the Japanese Ministry of Finance.
    The company said its board is scheduled to meet March 27
for its regular monthly sessions.
    American Express said it is continuing to evaluate various
courses of action of strategic importance to Shearson Lehman in
addition to the possible investment by Nippon Life.
    It said the options range from expanding Shearson's
capacity to meet international competition, to broadening
further its access to capital.
    The company also said, "All the courses of action under
study reflect the continuing integral role of Shearson Lehman
in American Express' worldwide financial services strategy."
 Reuter
