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July 6, 1999

FedEx announces new appointment in Mid-Pacific Region

Peter Yin named VP, Mid-Pacific, Hong Kong & Macau

HONG KONG, July 6, 1999 -- Federal Express Corporation (FedEx), the world's largest express transportation company, today announced Peter Yin, Vice President of Asia Pacific Marketing, Communications and Customer Service, would assume the role of Vice President of Mid- Pacific, Hong Kong & Macau.

"This appointment, which further strengthens operations of our important markets in Hong Kong and the Mid-Pacific region, reflects FedEx's commitment to enhancing our senior management in line with its corporate objectives. As the Hong Kong market teems with new opportunities, we are pleased to have secured a top-notch leadership to steer and further drive our business in this fast-growing market in the Asian Pacific region," said Michael L. Ducker, President of FedEx Asia Pacific Division.

In his new role, Peter Yin will also be responsible for the overall planning, implementation and management of corporate and business strategies for Hong Kong, this important trading and transportation center in Asia.

Yin joined FedEx US domestic operations in 1984 and moved to the Asia Pacific headquarters office in Hong Kong to become Managing Director, Market Development for the Asia Pacific region in 1992. He was subsequently appointed to be Vice President Marketing, Communications and Customer Service in 1993.

"We're excited to continue helping the Mid-Pacific region grow as a manufacturing and an industrial export distribution center. The size of Hong Kong's international express industry is second only to the U.S. worldwide, and we continue to be excited about this strategic market," said Yin.

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