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August 13, 1999

FedEx Appoints New VP to Spearhead
E-Commerce and Customer Service Division in Asia Pacific

Rajesh Subramaniam named VP, Asia Pacific Division

HONG KONG, August 13, 1999 - Federal Express (FedEx), the world's largest express transportation company, today announced the appointment of Rajesh Subramaniam as Vice President of Electronic Commerce and Customer Service (ECCS), Asia Pacific. Subramaniam was previously Managing Director of Marketing, Asia Pacific, a position he held since 1996.

Based in Hong Kong, Subramaniam will have overall responsibility for the regional customer service operation, and will spearhead the continued development of the company's e-commerce business in the Asia Pacific market.

"FedEx is committed to offering integrated supply chain management solutions to support and facilitate the e-commerce business model in Asia Pacific. We believe electronic commerce will continue to be the key for companies to remain competitive in the global marketplace, and this explains why information technology is a core element in our efforts to deliver extra value to our customers," said Michael L. Ducker, President of FedEx Asia Pacific Division. "Rajesh's wealth of industry experience and e-commerce knowledge will add great momentum to our goal of achieving service excellence and meeting increasing customer expectations."

"FedEx has long been leading the industry with innovative supply chain management solutions that set us apart from our competitors. Our customers continuously turn to us to help them cut costs and improve speed to market which, in turn, gives them a competitive edge. I look forward to taking on sucha dynamic, leadership role and steering the company towards many more e-commerce and IT milestones," said Subramaniam.

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