About FedEx

2004 Press Releases

July 15, 2004

FedEx Strengthens Services with Launch of International Priority Service for Restricted Goods

SYDNEY, AUSTRALIA – July 15, 2004 – FedEx Express (FedEx), the world's largest express transportation company, now offers door-to-door services for customers transporting restricted or classified goods under its new International Priority Dangerous Goods (IPDG)* service.

The launch of the IPDG service in Australia will enable local businesses in the biotechnology and aviation sectors the ability to ship all classes of classified goods (excluding radioactive or explosive products) from their site to their customer’s front door, across the globe. The new service is specifically targeted at the transportation of dry-ice products, high-value engine parts with residual fuel, and diagnostic samples and equipment from the biotechnology sector.

Mr. Peter Yin, Regional Vice President of FedEx Express, South Pacific said, "With the recent increase in interest and continued growth in the biotechnology sector as an emerging industry and Australia’s continued leadership in aviation parts distribution and repair and return services, FedEx is keen to play a significant role in facilitating the growth of these export sectors."

Mr Rhicke Jennings, Managing Director of FedEx in Australia, New Zealand and Pacific Islands said, "The introduction of this service is in direct response to customers’ demand for increased coverage with door-to-door services to customers in Sydney, Melbourne and Brisbane."

The Australian Stock Exchange values the biotechnology sector at approximately AUD$10.5 billion, and the industry has, on the whole, shown strong capital growth over the last 5 years, which is expected to continue.

According to Eric Zitter, an analyst with GTH Capital and member of the Australian Biotechnology Association, most of the biotechnology companies in Australia are small, with high levels of research and development spending and often rely on partnerships with larger companies, including international companies. These partnerships are extremely valuable and will continue to be important to Australian businesses.

The Australian aerospace industry comprises of a few key large multinational corporations, and several hundred small to medium enterprises (SMEs) across a diverse range of specialist and technical businesses, which form part of the critical supply chain to the major businesses. Australia is a major distribution point for the local region, and trades with partners in North America, Europe and Asia (including Singapore, Malaysia, Japan).

The new service is specifically targeted at the transportation of dry-ice products, high-value engine parts with residual fuel, and diagnostic samples and equipment from the biotechnology sector. All shipments with classified goods are handled by FedEx in accordance with International Air Transport Association (IATA) regulations for air transport and FedEx's terms and conditions.

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX), connects areas that generate 90% of the world's gross domestic product in one to three business days with door-to-door, customs-cleared service and a money-back guarantee. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of more than 3.1 million items to 215 countries each working day. FedEx employs approximately 138,000 employees and has more than 50,000 drop-off locations, 643 aircraft and approximately 43,000 vehicles in its integrated global network.

*IPDG is available in selected countries. For more information on this service, please contact the FedEx customer service hotline on 13 26 10.