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November 11, 1997

FedEx Celebrates the Opening of New CKS Transshipment Center in Taiwan

New Facility Enhances Speed and Reliability for Taiwan Shippers

TAIPEI, November 11, 1997 - Federal Express Corporation (FedEx) held a ribbon-cutting ceremony today to officially open the company's new FedEx Transshipment Center at the Chiang Kai Shek (CKS) International Airport in Taipei, Taiwan.

The FedEx Transshipment Center features a 24-hour Customs service, high-speed sorting capabilities that can process 3,000 express shipments per hour, and a fully automated Customs clearance system called Taiwan Express Broker.

The ceremony was attended by a number of special guests. These included: Vice Minister Mao Chi-kuo, MOTC; Vice Minister Wu Chia-sheng, Ministry of Finance; Vice Chairman Schive Chi, Council for Economic Planning and Development; Legislator Tina Pan; and Legislator Hsu Shao-ping.

Also in attendance were Acting Director Lauren Moriarty of the American Institute in Taiwan and Michael L. Ducker, senior vice president of FedEx's Asia Pacific division.

"We're extremely pleased to have this new facility in Taiwan. After all, Taipei is a critically important market for Federal Express, and I know this Center further enhances our services to Taiwan shippers. The FedEx Transshipment Center also provides strong support to Taiwan's development as a regional center," Mr. Ducker said.

At the ceremony, Eddy Chan, managing director for FedEx Taiwan's operations, also expressed his thanks to the employees at the FedEx Transshipment Center. "The efficiency and effectiveness of our employees in establishing this facility is a great example of our commitment to Taiwan and our ability to delivery speed and reliability to our customers," Mr. Chan said.

Federal Express and the Civil Aeronautics Administration (CAA) of Taiwan signed an agreement for the establishment of the FedEx Transshipment Center at CKS in January 1997. In May, the CAA handed over the land to FedEx and construction began. Within three months, FedEx completed the work and operations started on August 11.

The FedEx Transshipment Center spans an area of 1,682 square meters (approximately 18,000 square feet) of land beside the Express Handling Unit which is operated by the government-owned Taipei Air Cargo Terminal. The facility features a two-floor building, with the ground floor dedicated to sorting and warehouse facilities, while the second floor houses offices, an information-intensive control room, and conference rooms.

According to Mr. Ducker, FedEx is also poised to expand its operations at the second cargo terminal which is scheduled to begin operations by the year 2000.

"Our expansion at the second cargo terminal is an integral part of our future development plan for Taiwan," Mr. Ducker said. "It serves to meet the increasing demand for time-certain, as well as reliable, delivery services locally, regionally, and globally."

FedEx currently services the Asia Pacific market with approximately 4,500 employees in more than 30 countries and territories. Operating its own wide-bodied MD-11, DC-10 and A310 aircraft, FedEx offers over 250 flights per week to the following locations: Bangkok, Beijing, Hong Kong, Kaohsiung, Kuala Lumpur, Manila, Osaka, Penang, Seoul, Shanghai, Singapore, Subic Bay, Taipei and Tokyo.

Federal Express is the world's largest express transportation company providing fast and reliable services for more than 2.9 million items in 212 countries each working day. The company employs approximately 137,000 people, has nearly 34,000 drop-off locations, and operates more than 590 aircraft and 38,000 vehicles in its integrated global network. FedEx maintains electronic connections with more than 650,000 users via FedEx PowerShip®, FedEx Ship® and FedEx interNetShipSM. Federal Express reported revenues of U.S.$11.5 billion for its fiscal year ended May 31, 1997.

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