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January 22, 1998

Federal Express Contributes to Success of the Vietnam Challenge

HO CHI MINH, January 22, 1998 - Scores of participants in the Vietnam Challenge, an event sponsored by Federal Express (FedEx), reached their destination in Ho Chi Minh City recently. Within the Vietnam Challenge, 70 Vietnamese and American athletes, including former war veterans and participants with disabilities, traveled over 2,000 km between Hanoi and Ho Chi Minh City on bicycle. The purpose of the event was to foster closer ties between Vietnam and America.

Over a thousand onlookers turned up to cheer on the participants, which included the U.S. Ambassador to Vietnam, Pete Peterson and U.S. Senator John Kerry, as they rode through the gates of the Unification Palace. Representatives from both the Ho Chi Minh Peoples Government and the U.S. government were also on hand to welcome the teams, at the end of the 16-day odyssey.

Working in conjunction with the organizers, World T.E.A.M. Sports (WTS) and the Vietnam Veterans of American Foundation (VVAF), FedEx provided financial support in addition to carrying shipments of necessary equipment into and out of Vietnam. In addition, FedEx staff in Vietnam also provided and manned support vehicles to help transport the large amount of equipment and extra bicycles required over the grueling route to Ho Chi Minh City.

"This is the first time that FedEx has been involved in this event and we are proud to have been able to contribute to its success", Mr. Rhicke Jennings, FedEx's Managing Director for Southeast Asia District said. "We have always been supportive of any efforts that will help promote stronger relations between the peoples of Vietnam and the United States. We are pleased to have had the opportunity to support the humanitarian efforts of WTS. We hope that our efforts have proved beneficial to the people of Vietnam, and to the objective of this Challenge.

Funds raised by WTS will support the development of interactive education and medical programs, including a rehabilitative center at Back Mai Hospital.

Vietnam Challenge is one of many community projects FedEx has undertaken in the country. In fact, FedEx was the first global transportation company to enter Vietnam when FedEx aircraft delivered over 50 tons of medical and surgical supplies as part of a relief mission with US-based Heart-to-Heart International in April 1995. FedEx currently, through its agent, has five offices in Vietnam with over 60 employees.

FedEx currently services more than 30 countries and territories in the Asia-Pacific market with approximately 4,500 employees. The company provides the most extensive trans-Pacific airlift of any major competitor. Operating its own wide-bodied MD-11 DC-10 and A310 aircraft, FedEx offers over 260 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 worldwide.

Federal Express connects areas that generate 90 per cent of the world's gross domestic product in 24 to 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 3 million items to 211 countries each working day. FedEx employs approximately 140,000 people and has more than 43,000 drop-off locations, 600 aircraft and 39,500 vehicles in its integrated global network. FedEx maintains electronic connections with more than 850,000 customers via FedEx PowerShip®, FedExShip® and FedEx interNetShipSM. Federal Express reported revenues of US$11.5 billion for its fiscal year ended May 31, 1997.

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