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FedEx Archives: 2001 Press Releases

( BW)(TN-FEDEX)(FDX) FedEx Corp. Announces Stock Repurchase Program

    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 24, 2001--FedEx Corporation (NYSE: FDX) today announced that its Board of Directors has authorized management to repurchase, within its discretion, up to 5 million shares of the company's common stock.
    The company said purchases may be made in the open market and in negotiated or block transactions. FedEx currently has 298 million shares outstanding.
    With annual revenues of $20 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Freight, a leading provider of regional less-than-truckload freight services; FedEx Custom Critical, the world's largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions.

    --30--LR/na*

    CONTACT: FedEx Corp., Memphis
             Media:
             Shirlee Clark 901/818-7463
             or
             Investor:
             Jim Clippard, 901/818-7468
             http://www.fedex.com

    KEYWORD: TENNESSEE
    INDUSTRY KEYWORD: TRANSPORTATION AIRLINES
    SOURCE: FedEx Corp.