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FedEx Archives: 2000 Press Releases

( BW)(TN-FEDEX)(FDX) FedEx Chairman Undergoes Successful Bypass Surgery; Prognosis for Frederick W. Smith is ``Excellent''

    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Nov. 25, 2000--FedEx Corp. (NYSE:FDX) Chairman, President and Chief Executive Officer Frederick W. Smith underwent successful coronary bypass surgery last evening at St. Francis Hospital in Memphis. Smith, 56, is alert and resting comfortably today, according to his physician.
    "Fred Smith is doing very well today after undergoing coronary bypass surgery last night," said Dr. Gwin Robbins, a cardiac surgeon who performed the procedure at St. Francis Hospital. "We recommended the procedure after indications from a routine examination and subsequent tests. Mr. Smith is in otherwise excellent health, and we expect to release him to return home within the next few days. We are confident that he will recover fully and be able to resume his regular work schedule within a reasonable period of time."
    Smith's responsibilities will be handled on an interim basis by the company's executive committee, which is comprised of: Kenneth R. Masterson, Executive Vice President and General Counsel; Alan B. Graf, Jr., Executive Vice President and Chief Financial Officer; T. Michael Glenn, Executive Vice President, Market Development and Corporate Communications; and Robert B. Carter, Executive Vice President and Chief Information Officer.
    "Fred was in good spirits when we spoke this morning and is eager to return home to be with his family," said Kenneth R. Masterson, Executive Vice President and General Counsel, FedEx Corp. "We look forward to his return to his regular responsibilities and work schedule soon."
    Smith is widely credited with the creation of the express transportation industry and is the founder of Federal Express Corporation.
    With annual revenues of $19 billion, FedEx Corp. is the premier global provider of transportation, logistics, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Logistics, an integrated logistics, technology and transportation-solutions company; FedEx Custom Critical, the world's largest provider of expedited, time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions. More than 2.5 million customers are connected electronically through the FedEx information network and approximately two-thirds of its U.S. domestic transactions are now handled online.

    --30--DH/na*

    CONTACT: FedEx Corp., Memphis
             William G. Margaritis, 901/218-3457 or 901/818-7090
             wgmargartis@fedex.com
             or
             Shirlee M. Clark, 901/218-6515 or 901/818-7463
             smclark@fedex.com
             or
             Gregory M. Rossiter, 901/218-5446 or 901/818-7303
             gmrossiter@fedex.com

    KEYWORD: TENNESSEE
    INDUSTRY KEYWORD: AIRLINES MEDICAL TRANSPORTATION