FedEx Delivers On 2006 FORTUNE Global 500 List Moves Up 18 Places Based on Strong Financial Performance

FedEx Corp. (NYSE: FDX) rose through the rankings of the 2006 FORTUNE “Global 500” list to 197, up 18 spots from the previous year. The survey result was based on the improved FedEx financial performance for fiscal 2005, which ended May 31, 2005. FedEx continued to grow financially in fiscal 2006 ending May 31, 2006, posting annual revenue of US$32.3 billion, up 10 percent from the previous fiscal year. FedEx in Asia is part of the company’s growing business, and plans are in place to further expand FedEx Express services in Asia Pacific, particularly China. FedEx Express is building a US$150 million Asia Pacific hub in Guangzhou that will serve the entire Asia-Pacific region. This will be the biggest FedEx Express hub outside the United States. In January, FedEx also announced an agreement with its joint venture partner, Tianjin Datian W. Group Co., Ltd. (DTW Group) to acquire FedEx-DTW International Priority express joint venture and DTW Group’s domestic express network for US$400 million. Upon closing, FedEx-DTW, which was established in 1999, will turn from a joint venture into a wholly-owned subsidiary of FedEx. “Asia is one of our fastest-growing regions and an important part of the FedEx global strategy,” said David Cunningham, Jr., president of FedEx Express Asia Pacific. “We are committed to further expanding our presence in Asia, especially in China, and are ready to serve the growing demands of our customers. The growth in Asia will continue to contribute to our rise in ranking of the FORTUNE “Global 500” list in the future.” In Thailand, FedEx has 14 FedEx service centers strategically located throughout the country, employs more than 400 people and operates 159 delivery vehicles locally. “Thailand remains an integral part of our global and Asia Pacific network as evidenced by our continued targeted investments in the market to expand our service portfolio and enhance the customer experience,” said Mr. David Carden, Managing Director for Thailand and Indochina. “We recently opened five new World Service Centers – at Khaosan, Nana Square, Bangna, Pratunam Plaza and North Pattaya – bringing the total to 14. Mr. Carden added that FedEx continues to help Thai value-added manufacturing industries meet their needs for efficient and cost-effective transportation infrastructure and air express services to remain competitive in the global supply chain. “FedEx presence in Thailand is driven by multinational investment and the emergence of rising exports. The Thai jewelry sector is a very good example, as more and more purchases are ordered via the Internet,” he said. FedEx in Thailand is also further penetrating a broader range of customer bases with the launch of its new International Dangerous Goods (IPDG) service – that allows for the safe and efficient delivery of goods produced in the biotechnology, chemical research, automotive and aerospace sectors. The FORTUNE “Global 500” list is a ranking of the top 500 global corporations as measured by revenue. FedEx frequently features prominently in the FORTUNE global surveys. It was ranked the 50th “Biggest Employer” in this year’s FORTUNE “Global 500” survey with more than 260,000 employees and contractors worldwide. Earlier this year, FedEx was ranked 64th in the 2006 FORTUNE “100 Best Companies To Work For,” and was recognized for promoting employees from within. FedEx has been honored by FORTUNE as a “Blue Ribbon Company” for appearing on five of the magazine's honors lists in 2005, including “FORTUNE 500,” “Global 500,” “FORTUNE 100 Best Companies to Work For,” “America's Most Admired Companies,” and “World’s Most Admired Company.” About FedEx Corp. FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $33 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brands. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 275,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com . About FedEx Express FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee. NOTE TO EDITORS: FedEx Express press releases are available on the World Wide Web at http://www.fedex.com . For further information, please contact: Patsy Koh, Senior Corporate Communications Specialist, FedEx South Pacific Tel: +65 6390 5574 Email: [email protected] OR Aziam Burson-Marsteller Sribenja Semmeesook or James Best, Tel: 02 252 9871 Email: [email protected]

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