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September 21, 1997

FedEx Director Receives Award for Outstanding Leadership

TAIPEI, September 21, 1997 - Eddy Chan, managing director for Federal Express Corporation (FedEx) in Taiwan, was honored with an award for his outstanding leadership at a ceremony yesterday.

The 1997 Jin Feng Best Business Leaders award was presented to Eddy Chan in recognition of Mr. Chan's business leadership and Federal Express Corporation's outstanding reputation.

"With advanced management systems and enthusiastic, as well as attentive, employees, FedEx provides efficient and quality services that are able to benefit local consumers," according to the award panel. Dignitaries, including Economic Vice Minister Chang Chang-pang, were present to witness the ceremony.

"I'm extremely pleased and honored to have won this award. This would not have been possible without the concerted efforts by all of the employees at FedEx Taiwan who strive consistently to deliver speed and reliability in our services for FedEx customers," Mr. Chan said.

The Jin Feng Best Business Leaders award, launched last year by the Outstanding Business Managers Association, recognizes top business leaders and their significant contributions to the country. Eddy Chan is the only person from the international express transportation industry to receive this award to date. Since Mr. Chan assumed his current position in March 1996, FedEx Taiwan has won several awards, including the 1996 Excellent Enterprise and the 1996 Excellent Product awards by the Chung Hua Economy & Commerce Research Development Association, and the 1996 Excellent Achievement award by the China Service Quality Development Association. Recently, Mr. Chan was also the recipient of a divisional Senior Vice President's award from FedEx, paying tribute to his top-notch performance in the company's Asia Pacific Division.

FedEx currently serves the Asia Pacific market with approximately 4,300 employees serving more than 30 countries and territories. The company provides the most extensive trans-Pacific air lift of any major competitor. 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, as well as destinations in the U.S.

Federal Express is the world's largest express transportation company providing fast and reliable services for more than 2.8 million items in 212 countries each working day. The company employs approximately 137,000 people, has more than 42,500 drop-off locations, and operates more than 590 aircraft and 38,500 vehicles in its integrated global network. FedEx maintains electronic connections with more than 750,000 users via FedEx PowerShip®, FedEx Ship® and FedEx interNetShipSM. Federal Express reported revenues of US$11.5 billion for its fiscal year ended May 31, 1997.

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