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March 16, 2001

FedEx Voted Best Total Logistics Operator For Sixth Consecutive Year by Asian Freight Industry

Award reflects FedEx's continued excellence in providing integrated logistics solutions

HONG KONG, March 16, 2001 - Federal Express (FedEx), the world's largest express transportation company, has been named Best Total Logistics Operator for the sixth consecutive year at the 15th Asian Freight Industry Awards (AFIA). In addition, FedEx once again received top honors as the Best All Cargo Airline and Best Air Cargo Carrier: North America.

Accepting the awards on behalf of FedEx was Luiz Tung, Managing Director, FedEx Hong Kong, at the awards ceremony in Hong Kong on March 16.

"It is a great honor to receive these three industry awards", said Mr. David Cunningham, President of FedEx Asia Pacific. "With the globalization of markets around the world, companies must be concerned about squeezing time out of the supply chain and this is the real value in the age of the Internet", continued Mr. Cunningham.

"We believe that FedEx provides a unique service to customers by offering a one-stop shop of integrated solutions that draw upon our unparalleled distribution and technology networks. Receiving the award for the "Best Logistics Operator" for the sixth year in a row reaffirms FedEx's long-standing strength and leadership position in the supply chain management area. It is also a reflection of our success in listening and tailoring our solutions to meet customers' needs", said Mr. Cunningham.

The AFIA is held annually by Cargonews Asia, the leading freight industry trade publication in the region. More than 13,000 readers, which include customers and service users, were individually balloted and asked to vote for the best service providers in 37 industry-specific categories. The AFIA is the only awards event in which winners are selected by customers instead of a panel of judges. All returned nomination forms and final ballot forms are audited by international auditor Deloitte Touche Tohmatsu.

FedEx Express, a $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 and a money-back guarantee*. 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 149,000 employees and has more than 46,000 drop-off locations, 663 aircraft and 49,000 vehicles in its integrated global network.

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