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September 23, 1997

Federal Express Delivers Internet Shipping to More of the World

Continued commitment to customers by providing time-saving business solutions advances FedEx leadership in global electronic commerce

HONG KONG, September 23, 1997 - In an industry first, Federal Express Corporation (FedEx) today extended the reach of FedEx interNetShip^SM to 26 additional countries in Asia, Europe and South America. Customers located in those countries can now prepare shipment documentation for consignments to more than 160 countries using their own Internet-linked computers and laser printers.

"This new technological application is a great boon for shippers in many countries in Asia," said Michael L. Ducker, senior vice president of FedEx's Asia Pacific Division. "When we launched interNetShip in the U.S., it was the first of its kind in the industry. Based on FedEx interNetShip's success in the U.S. domestic market, we are now bringing this unique and practical function to much of Asia and integrating it with our Asian country-specific web sites launched earlier this year."

By simply accessing the FedEx home page (http://www.fedex.com) and entering a valid FedEx account number and a FedEx interNetShip user identification, shippers in Asia can now prepare and print shipping lables/air waybills and shipping documentation online.

FedEx interNetShip also enables Asian customers to keep laser printed copies of all their shipping information without needing to store pre-printed forms. In addition, up to 75 frequently used names and addresses can be saved in an address book function for even faster preparation of air waybills, thus reducing addressing errors.

"The launch of FedEx interNetShip in Australia, Guam, Hong Kong, Japan, Macau, Malaysia, New Zealand, Singapore and Taiwan is a clear sign of FedEx's technological leadership. Furthermore, we are currently developing additional shipping solutions and improving current services to provide our customers, large and small, with a full suite of services that provide 'user-friendly' business solutions," said Mr. Ducker.

In line with the FedEx commitment to value-added technology, an automatic e-mail facility allows shippers to send a message to the recipient, detailing package status tracking information. Commercial invoices can also be produced with a few simple key strokes. "FedEx interNetShip helps level the global playing field for smaller companies that may not have the shipping resources and expertise of large corporations," said Dennis H. Jones, chief information officer, Information and Telecommunications division at FedEx. "These latest FedEx interNetShip improvements, combined with our global network, put technological capabilities and service reliability in the hands of more businesses around the world."

FedEx interNetShip illustrates the growing trend of companies conducting business on the Internet. According to Forrester Research, Inc., the total value of goods and services traded between companies over the Internet will reach US$8 billion this year and $327 billion in the year 2002. It is estimated that, by the year 2000, home use of the Internet in leading markets such as Japan and Australia will increase more than three-fold.

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: Bangkok, 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 2.9 million items in 212 countries each working day. The company employs approximately 137,000 people, has more than 42,500 drop-off locations, and operates more than 590 aircraft and 38,500 vehicles in its integrated global network. FedEx maintains electronic connections with more than 750,000 customers 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.