News

FedEx Freight to Cut Fuel Surcharge by 25%

Shippers to Realize Immediate Benefit

MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Freight, a leading U.S. provider of regional next-day and second-day less-than- truckload (LTL) service, and a subsidiary of FedEx Corp. (NYSE:FDX) will reduce its standard LTL fuel surcharge by 25%, effective July 23, 2007. Additionally, FedEx National LTL, the long-haul LTL company recently formed, will reduce its standard LTL fuel surcharge to levels commensurate with FedEx Freight. Fuel surcharges for both LTL companies are updated weekly, based on fuel prices published by the U.S. Department of Energy.

“FedEx Freight and FedEx National LTL are taking a leadership position in the industry by making changes to benefit our customers and the market as a whole,” said Douglas G. Duncan, president and CEO, FedEx Freight Corporation. “By significantly reducing our fuel surcharges, we offer immediate and long-term assistance to shippers who are facing both a challenging economy and volatile fuel prices.”

In addition to reducing fuel surcharges, FedEx Freight and FedEx National LTL are taking proactive steps to address rising fuel costs. The FedEx LTL companies operate some of the newest equipment in the industry and work with engine manufacturers, the EPA and the Department of Transportation to find new solutions that balance efficiency and productivity.

Fuel surcharges at FedEx Express and FedEx Ground are not impacted by changes to the FedEx Freight and FedEx National LTL fuel surcharges.

About FedEx Freight
Within FedEx Corp., the FedEx Freight Segment had annual revenues of $4.5 billion in fiscal year 2007. The Segment includes FedEx Freight, a leading U.S. provider of regional next-day and second-day and extended LTL freight services. FedEx Freight is known for exceptional service, reliability and on-time performance. Through a comprehensive network of nearly 330 service centers and advanced information systems, FedEx Freight provides service to virtually all U.S. ZIP codes, including Alaska and Hawaii. The carrier's regional and extended LTL service is supported by a no-fee money-back guarantee on all eligible continental U.S. shipments. Internationally, the company serves Canada, Mexico, Puerto Rico, Central and South America, the Caribbean, Europe and Asia. With corporate offices in Memphis, Tenn., the FedEx Freight Segment also includes FedEx National LTL, a leading provider of long-haul LTL services throughout North America; FedEx Freight Canada, an LTL operating company serving most points in Canada; FedEx Custom Critical, North America's largest time-specific, critical shipment carrier; and Caribbean Transportation Services, the leading provider of airfreight forwarding services between the United States and Puerto Rico. For more information, visit the FedEx web site, fedex.com.

Corporate Overview
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $35 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 280,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit fedex.com.