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November 27, 2001

FedEx Announces New Planning And Engineering Director
for South Pacific

SINGAPORE, November 27, 2001 - FedEx Express (FedEx) has announced the appointment of Mr. Sanjay Gandhi as Managing Director of Regional Planning and Engineering for the South pacific region.

FedEx South Pacific Vice President, Mr. Peter Yin, announced the appointment today.

Based in Singapore, Mr. Gandhi is responsible for managing planning and engineering activities to provide superior air-ground network and operational infrastructure to maximize reliability & value-added offerings for FedEx's customers.

Prior to his current appointment, Mr. Gandhi held the position of manager, business planning and engineering, for the South Pacific region. Mr. Gandhi joined FedEx in 1995.

Mr. Gandhi holds a Bachelor's degree in engineering from the Indian Institute of Technology, New Delhi, India, and he also holds a Post Graduate Diploma in Management (MBA) from the Indian Institute of Management, Bangalore, India. Prior to joining FedEx, Mr Gandhi held various managerial positions, in the area of IT and engineering, with a leading automobile company in India.

FedEx Express, a US$15 billion subsidiary of FedEx Corp., connects areas that generate 90% of the world's gross domestic product in 24-48 hours with door-to-door, customs-cleared service. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of more than 3.3 million items to 211 countries each working day. FedEx employs approximately 144,000 employees and has more than 46,000 drop-off locations, 640 aircraft and more than 45,000 vehicles in its integrated global network.

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