AMERICAN EXPRESS &lt;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 &lt;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."
  

