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February 22, 2000

FedEx Expands Presence in Ipoh

IPOH, February 22, 2000 - Federal Express Corp., (FedEx) the world's largest express transportation company, today announced the launch of its direct services in Ipoh through its appointed agent, F.I.P (Perak) Sdn Bhd. This new service is in response to increased demand for inbound and outbound air express services in the rapidly-expanding state.

According to Luiz Tung, Managing Director of Federal Express Malaysia, "the growing strength of the local economy has translated well into strong demand for time-definite air express services from local companies, both in and out of the region. This coupled with the growth of Perak's small and medium-sized industries have resulted in significant demand for our services."

"The rapid expansion of FedEx services to Johor, Kuching and now Ipoh, all within less than a year, is part of our business strategy to extend our services to the whole of Malaysia and to focus our efforts on small and medium sized industries, in addition to the larger customers.

We are committed to providing small local businesses throughout the country with a range of tools and solutions to compete on a global scale. Small businesses in Ipoh will be able to benefit from more immediate access to our AsiaOne service, which allows businesses to have a time-definite air express service five days a week. The direct air connections to major Asian destinations provide overnight door-to-door services, improving delivery times by up to 24 hours. Customers in Ipoh will be able to enjoy FedEx's excellent service by well trained staff whose goal is to provide total customer satisfaction," said Mr. Tung.

Occupying an area of 4,160 square feet, the station features a sorting and distribution center with a FedEx World Service Center (WSC) for walk-in customers. It will also provide ease of access for customers who will be able to drop-off their shipments.

"We are very pleased to appoint F.I.P (Perak) Sdn Bhd as our agent here. With in-depth knowledge and experience of the local market, customers will be able to enjoy the fast and reliable service that heas become synonymous with FedEx," said Mr Tung.

FedEx first established operations in Malaysia in 1991. The company's local headquarters are located in Damansara Uptown, Kuala Lumpur.

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