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March 27, 2000

FedEx Named Best Total Logistics Operator for Fifth Consecutive Year by Asian Freight Industry

FedEx wins in three categories at the 14th Asian Freight Industry Awards

SINGAPORE, March 27, 2000 - Federal Express (FedEx), the world's largest express transportation company, has been named Best Total Logistics Operator for the fifth consecutive year running at the 14th 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 were Peter Mok, Managing Director - Electronic Commerce, Asia Pacific and Rahim Tahir, Managing Director - Logistics, South Pacific at the awards ceremony in Singapore on March 27.

"It is a great honor to receive three industry awards. We are grateful for our customers' and the Asian freight industry's continued support," said Mr. David Cunningham, President, FedEx Asia Pacific.

"The award for Best Total Logistics Operator, in particular, reaffirms FedEx's longstanding strength and capabilities in the supply chain management area. With the advent of e-commerce and the globalization of markets around the world, effective and efficient logistics solutions are becoming critical to the continued success of companies. We believe that FedEx provides a unique service to customers by offering a one-stop shop of integrated solutions that draw upon our unparalleled transportation, technology and warehousing networks," continued 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.

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