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December 11, 2001

FedEx Express Cooperates with China Council for
the Promotion of International Trade

FedEx is appointed as exclusive express company for delivery
of souvenirs symbolizing China's entry into the WTO

Hong Kong, December 11, 2001 - Federal Express (FedEx), the world's largest express transportation company, announced today its cooperation with the China Council for the Promotion of International Trade (CCPIT) to act as the official delivery service for its "Open China" project, a worldwide promotional event to celebrate China's entry into the World Trade Organization (WTO).

FedEx has been appointed as exclusive express company for the delivery of 1,000 specially created souvenirs commemorating China's historic entry into the WTO. The commemorative souvenir is composed of two parts: "Splendid China", a Chinese painting album; and "China Guide", a VCD introducing natural conditions, social customs and the business environment of each province in China. Interestingly, the wrapper of the souvenir is made from a Chinese bamboo slip.

The 1,000 souvenirs will be sent to several prominent people throughout the world including heads of state, celebrities, and top officials of well-known multinational organizations. In total, deliveries will be made to over sixty countries. The whole delivery process will take until April-May 2002.

"As strong proponents of China's WTO accession, FedEx firmly believes that normalization of trade relations will have enormous impact on global trade and ultimately on the global economy. As such, we are very proud to have been chosen to deliver these very meaningful mementos to the list of distinguished recipients across the globe," said David L Cunningham, Jr., President of Asia Pacific, FedEx Express. "FedEx will ensure that all the souvenirs will reach their destinations quickly and securely thanks to our unmatched transportation network.

FedEx Express, a US$15 billion subsidiary of FedEx Corp., connects areas that generate 90% of the world's gross domestic product in 24-48 hours with door-to-door, customs-cleared service. 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 3.3 million items to 211 countries each working day. FedEx employs approximately 144,000 employees and has more than 46,000 drop-off locations, 640 aircraft and more than 45,000 vehicles in its integrated global network.

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