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September 2, 1997

FedEx to Launch First Round-The-World Flight

Flight Links Bangkok into FedEx AsiaOne Network Through Asia Pacific Hub in Subic Bay

BANGKOK, September 2, 1997 - Federal Express Corporation (FedEx) today announced the first cargo flight to span the globe. The new "Around-the-World" flight will significantly reduce transit times to the Middle and Far Eastern regions and signals the introduction of the first regular express transportation service to Mumbai, India.

The new flight will originate in Indianapolis, Indiana, and continues to Paris, France and Dubai, United Arab Emirates, to service Middle Eastern customers. The flight then continues to Mumbai, India; Bangkok, Thailand; Subic Bay, the Philippines to serve Asia Pacific customers before returning to the U.S. through Anchorage, Alaska.

"FedEx has established an extensive network and the industry's first hub in Asia Pacific, " said Michael L. Ducker, senior vice president, Asia Pacific division. "We continue to add additional spokes to the AsiaOne network, and I take great pride in finally connecting Bangkok as the 14th spoke in this network."

The primary beneficiaries of this enhanced service will include express shippers, particularly those moving boxes and heavy freight consignments to the Middle East and Asia. The new flight also enables FedEx to provide earlier delivery and later pick-up times to customers in these markets. Transit times for shipments from continental Europe to the United Arab Emirates, for example, will improve by a full day. Time required for customs clearance of dutiable goods will also increase.

FedEx will introduce other service enhancements in Bahrain, Bangladesh, India, Lebanon, Oman, Pakistan, Qatar and Syria, including:

• The package weight of FedEx International Priority shipments will increase to 68 kg per piece;
   
  
• FedEx will introduce International Priority Freight service, enabling customers with pieces over 68 kg to ship with virtually no limits on total shipment weight.

FedEx currently serves the Asia Pacific market with approximately 4,300 employees serving more than 30 countries and territories. The company provides the most extensive trans-Pacific air lift of any major competitor. Operating its own wide-bodied MD-11, DC-10 and A310 aircraft, FedEx offers over 250 flights per week to the following locations: Beijing, Hong Kong, Kaohsiung, Kuala Lumpur, Manila, Osaka, Penang, Seoul, Shanghai, Singapore, Subic Bay, Taipei, and Tokyo, as well as destinations in the U.S.

Federal Express is the world's largest express transportation company providing fast and reliable services for more than 2.8 million items in 212 countries each working day. The company employs approximately 130,000 people, has nearly 43,000 drop-off locations, and operates more than 580 aircraft and 38,000 vehicles in its integrated global network. FedEx maintains electronic connections with more than 650,000 users via FedEx PowerShip^®, FedEx Ship^® and FedEx interNetShip^SM. Federal Express reported revenues of US$11.5 billion for its fiscal year ended May 31, 1997.

FedEx "Around-the-World"
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