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September 22, 2000

FedEx Launches Next Day Delivery Service to Major Asian and North American Cities

Delivery Time Shortened from Two Days to One Day

BEIJING, September 22, 2000 - Federal Express Corp. (FedEx), the world's largest express transportation company, recently provided its Chinese customers more convenient and faster services - FedEx AsiaOne service and North American Next Day Delivery service. FedEx customers in Beijing, Shanghai, Guangzhou, Shenzhen and neighboring cities can now enjoy next-day express service to major Asian and North American cities.

Through FedEx AsiaOne service, customers' packages collected from the above mentioned cities can now be delivered to 15 Asian cities in the next working day. Service cities include Singapore, Manila, Hong Kong, Seoul, Kuala Lumpur, Tokyo, Penang, Osaka, Jakarta, Subic Bay, Taipei, Cebu, Kaohsiung, Bangkok, Bombay.

FedEx North America Next Day Delivery service provides its customers with next day delivery service to major cities in the United States and Canada. FedEx is the first express transportation company to unveil this kind of service in Mainland China.

By enlarging its courier team and extending its gateway and ramp working hours, FedEx is able to shorten its delivery time from two days to only one day. In addition, FedEx extended its call-in cut-off time from originally 10:00am to 11:00am in Beijing, Shanghai, Guangzhou and Shenzhen, providing customers with an even more convenient and flexible service. The launch of the new services marks a successful integration of FedEx China network to its Asian and global network. The new services will better address its customers' needs in China.

"China is a very important market for FedEx," said Wilson Chung, General Manager of FedEx China. "We are dedicated to continually investing in this market and providing outstanding value to our Chinese customers by introducing world-class express service."

Poh-yian Koh, Managing Director of FedEx China Operations added that, "With our own flights to and from destinations in China, and a strong joint venture partner (Da Tian) in Beijing and strong operators in other parts of China, FedEx service now is available in 190 Chinese cities. We are planning to expand our services to more cities in the near future."

FedEx Express, a US$14 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 210 countries each working day. FedEx employs approximately 150,000 employees and has more than 34,000 drop-off locations, 650 aircraft and 45,000 vehicles in its integrated global network. The company maintains electronic connections with more than 2.1 million customers via FedEx Powership®, FedEx Ship® and FedEx interNetShip®.

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