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October 10, 2001

FedEx to Sponsor Ferrari Racer in Suzuka Formula 1 Grand Prix

TOKYO, October 10, 2001-Federal Express Corporation (FedEx), the world's largest express transportation company, announced today that it will participate in this weekend's Formula 1 race at Suzuka Circuit in Mie Prefecture as a major Ferrari F-1 sponsor.

FedEx began sponsoring the Benetton Formula 1 team in 1997 as part of a global brand promotion program placing FedEx key words "speed, reliability, technology and teamwork" in bold relief, and has sponsored Ferrari since 1999. FedEx has been stressing these key words throughout its five-year F1 sponsorship, as well as its CART auto race sponsorship, as an important part of its increasing presence in the Japanese market.

"The ingredients required to be a successful Formula 1 team are speed, reliability, innovative technology and outstanding teamwork," said David J. Ross, Vice President of the North Pacific Region at FedEx. "That same set of skills has enabled FedEx to lead the world's express transportation industry. Our alliance with Formula 1 racing and the Ferrari team is a perfect fit."

At the 13th race in Hungary earlier in the current season, Ferrari clinched its 11th constructors' championship in 3 consecutive years, along with Michael Schumacher's win in the driver's championship for the fourth time in his career. With another win in the subsequent 14th race, Schumacher extended the total number of victories to 52, beating Alan Prost's all-time record. Teammate Rubens Barrichello ranks third in the driver's championship after 16 races, closing a 7-point deficit to catch up with David Coulthard of McLaren-Mercedes. The action at Suzuka will highlight Schumacher's outstanding record and Barrichello's aggressive run for second.

FedEx Express began operations in Japan in 1984. Since starting overnight service between Tokyo and the U.S., the company has gradually expanded its service network to cover Osaka and Nagoya, and now provides same-day delivery service with its own flights through both New Tokyo International Airport (NRT) and Kansai International Airport (KIX).

In 1995, FedEx opened its Asia Pacific Hub in Subic Bay, the Philippines, and launched AsiaOne, its new intra-Asia overnight delivery network connecting major commercial and financial centers in the region. FedEx Japan currently has 1,600 employees, 18 stations, 6 World Service Centers, 8 FedEx Authorized Ship Centers and 22 Drop Boxes nationwide.

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