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January 24, 1996

Federal Express Names New Vice President For South Pacific

John W. Allison promoted, David J. Ross replacing Allison as Managing Director of Hong Kong and Macau

Hong Kong, January 24, 1996 -- Federal Express Corporation (FedEx) announces today that John W. Allison has been promoted to the position of vice president - South Pacific region. He replaces Michael L. Ducker, who has recently been appointed senior vice president to head up the company's Asia Pacific Division. David J. Ross, formerly director of FedEx (Australasia) Pty Ltd, is promoted to managing director, replacing Mr Allison in Hong Kong.

In his new position, Mr Allison will be responsible for planning, organizing and implementing FedEx's operations in the South Pacific region, responsible for Singapore, Hong Kong, China, Malaysia, Indonesia, the Philippines, Australia, New Zealand, the Pacific Islands, and Indo-China.

"John has a distinguished career with FedEx. We are extremely fortunate to have a person with such extensive experience to manage our South Pacific region. We wish John every success in his new managerial role," Mr Ducker said.

Mr Allison joined FedEx as a service engineer for the Michigan District in 1984 and was then promoted to become senior manager of the Detroit Station in 1985. He was appointed senior manager of Troy Station in 1986. In late 1986, he was promoted to the position of managing director - Northland District.

Prior to his assignment in Hong Kong, Mr Allison held the position of managing director of Australia and New Zealand operations for three years, responsible for overseeing the acquisition of Rainers Transport and the merger of the Australia and New Zealand branches of Flying Tigers with FedEx.

Assuming his new position December 1, 1995, Mr Ross is primarily responsible for organizing and implementing corporate strategies and operations in Hong Kong and Macau. Mr Ross joined FedEx in 1992.

While Mr Allison is relocated to South Pacific region's headquarters in Singapore, Mr Ross has been assigned to manage the operation based in Hong Kong.

FedEx serves more than 210 countries, providing fast and reliable package delivery for nearly 2.4 million items each working day. The company has more than 119,000 employees, and operates 531 aircraft, 35,000 vehicles and nearly 180,000 Powership® and FedEx ShipTM automated shipping systems in its integrated global network. FedEx reported revenue of US$9.4 billion for its 1995 fiscal year.

FedEx currently services the Asia-Pacific market with nearly 3,000 employees serving more than 30 countries and territories. The company provides the most extensive trans-Pacific air lift of any major competitor, with four wide-bodied MD-11, DC-10 and A310 aircraft daily linking its FedEx AsiaOne network of major commercial centers in the region.

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