February 1, 2001



Sharlene Abrams
Mercury Interactive Corp
1325 Borregas Avenue
Sunnydale, CA 94089


RE:        Schedule 13G


Enclosed pursuant to Rule 13d-1(b) under the Securities  Exchange Act of 1934 is
a report on Schedule 13G reporting  beneficial ownership at December 31, 2000 by
American Express  Financial  Corporation in Common Stock of Mercury  Interactive
Corp.


Sincerely,



Steve Turbenson
Director - External Reports and Tax




Enclosure









                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549

                                  SCHEDULE 13G


                  Under the Securities and Exchange Act of 1934



                            Mercury Interactive Corp
--------------------------------------------------------------------------------
                                (Name of Issuer)



                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)



                                    589405109
--------------------------------------------------------------------------------
                                 (CUSIP Number)






The  information  required in the remainder of this cover page (except any items
to which the form provides a cross-reference)  shall not be deemed to be "filed"
for the purpose of Section 18 of the Securities  Exchange Act of 1934 ("Act") or
otherwise  subject to the  liabilities  of that  section of the Act but shall be
subject to all other provisions of the Act.












                               CUSIP NO. 589405109


1) Name of Reporting Person     American Express Financial Corporation

   S.S. or I.R.S. Identification     IRS No. 13-3180631
   No. of Above Person

--------------------------------------------------------------------------------

2)  Check the Appropriate Box       (a)
    if a Member of a Group          (b) X - Joint Filing


--------------------------------------------------------------------------------

3) SEC Use Only

--------------------------------------------------------------------------------

4) Citizenship or Place of Organization     Delaware

    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
 (5) Sole Voting Power                     -0-
 (6) Shared Voting Power                   1,535,515
 (7) Sole Dispositive Power                -0-
 (8) Shared Dispositive Power              4,061,066
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

9) Aggregate Amount Beneficially
   Owned by Each Reporting Person          4,061,066

--------------------------------------------------------------------------------

10)Check if the Aggregate Amount in
   Row (9) Excludes Certain Shares         Not Applicable

--------------------------------------------------------------------------------

11)Percent of Class Represented by
   Amount In Row (9)                       5.1%

--------------------------------------------------------------------------------

12)Type of Reporting Person                 CO, IA, IV, IA

--------------------------------------------------------------------------------






1(a) Name of Issuer:                      Mercury Interactive Corp

 (b) Address of Issuer's Principal        1325 Borregas Avenue
     Executive Offices:                   Sunnydale, CA 94089

2(a) Name of Person Filing:               American Express Financial Corporation


2(b) Address of Principal Business Office:
                                          American Express Financial Corporation
                                          200 AXP Financial Center
                                          Minneapolis, MN  55474


2(c) Citizenship:                         See Item 4 of Cover Page

2(d) Title of Class of Securities:        Common Stock

2(e) Cusip Number:                        589405109

3    Information if statement is filed pursuant to Rules 13d-1(b) or 13d-2(b):
     American  Express  Company,   one  of  the  persons  filing  this
     statement,  is a Parent Holding  Company in accordance  with Rule
     13d-1(b)(ii)(G)  and is an Investment  Advisor  registered  under
     section 203 of the Investment Advisors Act of 1940.


4(a) Amount Beneficially Owned as of December 31, 2000:See Item 9 of Cover Pages

4(b) Percent of Class:    See Item 11 of Cover Pages

4(c) Number of Shares as to which such person has:
   (i) Sole  power to vote or to direct  the  vote:  See Item 5 of Cover Pages
  (ii) Shared  power to vote or direct  the vote:  See Item 6 of Cover Pages
 (iii) Sole power to dispose or to direct the  dispositioN of: See Item 7
       of Cover Pages
  (iv) Shared power to dispose or to direct the disposition of:   See Item 8
       of Cover Pages





5  Ownership of 5% or Less of a Class:
   If this  statement  is being  filed to report the fact as of the date
   hereof the reporting  person has ceased to be the beneficial owner of
   more  than  five  percent  of the  class  of  securities,  check  the
   following ( ).

6  Ownership of more than 5% on Behalf of Another Person:

                                 Not Applicable

7  Identification  and  Classification  of the  Subsidiary  Which  Acquired  the
   Security Being Reported on by the Parent Holding Company:

                                  See Exhibit I

8  Identification and Classification of Members of the Group:

                                 Not Applicable

9  Notice of Dissolution of Group:

                                 Not Applicable

10 Certification:

        By signing  below I certify  that,  to the best of my knowledge and
   belief, the securities  referred to above were acquired in the ordinary
   course of business  and were not acquired for the purpose of and do not
   have the effect of changing or influencing the control of the issuer of
   such  securities  and  were not  acquired  in  connection  with or as a
   participant in any transaction having such purposes or effect.

         After  reasonable  inquiry  and to the  best  of my  knowledge  and
   belief,  I certify that the  information set forth in this statement is
   true, complete and correct.
                                         American Express Financial Corporation

Dated: December 31, 2000                             By
                                                       Signature


                                             Steve Turbenson
                                             Director - External Reports and Tax
                                             Name/Title

                                             Telephone:(612) 671-2059






                                  Exhibit Index


Exhibit                I  Identification  and  Classification  of the Subsidiary
                       which  Acquired  the  Security  Being  Reported on by the
                       Parent Holding Company.

Exhibit II             Statement of American Express Financial Corporation






                                    Exhibit I

                                       to

                                  Schedule 13G

       American Express  Financial  Corporation,  a Delaware  Corporation,  is a
parent holding company and is registered as investment advisor under section 203
of the Investment Advisor Act of 1940. The relevant  subsidiaries and/or advised
accounts are: Investment  companies registered under section 8 of the Investment
Company Act of 1940;  IDS Life  Insurance  Company and  American  Express  Asset
Management Group Inc., an investment advisor registered under section 203 of the
Investment Advisors Act of 1940.





                                   Exhibit II

                                       to

                                  Schedule 13G

                                    Under the

                         Securities Exchange Act of 1934


       Pursuant to Rule  13d-1(f)(1),  American  Express  Financial  Corporation
affirms  that it is  individually  eligible to use  Schedule 13G and agrees that
this  Schedule  is filed in its  behalf  and on  behalf of it  subsidiaries  and
advised accounts.


                                         American Express Financial Corporation


                                               By:
                                                 Steve Turbenson
                                                 Director - External Reports
                                                 and Tax