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June 30, 2000

FedEx Appoints New Managing Director for Australasia

FedEx set to further consolidate its presence in Asia Pacific

SYDNEY, June 30, 2000 - Federal Express (FedEx), the world's largest express transportation company, has appointed Donald Hardy as Managing Director of its operations in Australia and New Zealand.

Donald Hardy brings to the position in Australia over 21 years experience with FedEx - more specifically, 15 years in the role of Managing Director for various divisions at the company's headquarters in Memphis Tennessee and Indianapolis Hub.

Assuming his new position immediately, Hardy will have overall responsibility for 500 employees in Australasia, overseeing the smooth operation of all its office, sorting, warehousing and airport ramp facilities.

He envisages continuing Australia's steadily increasing contribution to FedEx's dynamic growth in the region.

"Asia Pacific has certainly become the leading growth market for FedEx worldwide - Australia is certainly one of our key growth markets in the region," said Hardy.

"With our AsiaOne service coming up to its second year anniversary, FedEx is well positioned to take advantage of rising export and trading opportunities - both those generated by traditional business and the Internet commerce boom."

Donald Hardy joined FedEx in 1979 as Manager of Checking, Sorting and Handling in Memphis. He quickly moved onto Senior Manager, Station Operations in Nashville Tennesse and then has held the position of Managing Director in five different sectors of the company with a strong focus on Hub operations.

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