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FedEx Archives: 2003 Press Releases

FedEx Expands Presence in China, Widens Market Lead




    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 24, 2003--

FedEx Offers More Resources and Services to Customers in Fast Growing
    Economy; New, Regional Headquarters to Be Created in Shanghai

    FedEx Express, a subsidiary of FedEx Corp. (NYSE:FDX), announced today it will increase its presence in China by establishing a new, regional headquarters in Shanghai. The structure will provide broader expertise, expanded resources and service offerings to mainland customers as a part of the company's long-term commitment to China.
    As the current market leader, FedEx serves more than 220 cities in China and plans to increase that number by 100 over the next five years. The new regional structure will enable the company to be more responsive to the needs of its customers in and serving China.
    "China is one of the fastest-growing and most complex markets in the world," said Michael Ducker, executive vice president, FedEx Express. "The new structure will enable us to better serve our customers' increased needs for global transportation solutions and strengthen our competitiveness in the market."
    FedEx will maintain its Asia Pacific Headquarters in Hong Kong. Scheduled to open on December 1, 2003, the new Shanghai presence will not impact the local Hong Kong and Taiwan operations.
    Recent service enhancements, which significantly increase shipment-handling capacity and boost the speed of shipments to and from growing Asia Pacific markets, continue to position FedEx as the express transportation leader throughout Asia. The Asia Pacific region continues to record strong sales growth for FedEx, as FedEx International Priority(R) revenue grew 12 percent during the first quarter of fiscal 2004, spurred by a nine percent jump in exports from Asia.


--	FedEx recently launched the first direct express cargo service from Shenzhen's Baoan Airport in southern China to the United States. The new Shenzhen to Anchorage, AK flight is the only direct flight from Shenzhen to the U.S.
--	In late September, FedEx was awarded 13 additional frequencies in and out of Hong Kong by the U.S. Department of Transportation. FedEx is the U.S. carrier with the greatest number of flights in and out of Hong Kong.
--	FedEx will provide customers with better intra-Asian connectivity as a result of adding six flights to the company's AsiaOne hub in Subic Bay, Philippines linking the FedEx AsiaOne(R) network and the rest of the world. In late October, FedEx customers can utilize more extensive service between Asia and Europe with six additional flights between Hong Kong and the FedEx European hub at Charles DeGaulle Airport in Paris, one of which will be routed via Mumbia, India.

About FedEx

With annual revenues of $23 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, the largest U.S. provider of regional less-than-truckload freight services; FedEx Custom Critical, North America's largest provider of expedited time-critical shipments; and FedEx Trade Networks, North America's largest customs broker and a provider of international freight forwarding and trade facilitation services. FedEx ranked highest in the J.D. Power and Associates 2002 Small Package Delivery Service Business Customer Satisfaction Study(SM) in the categories of air, ground and international delivery services.

    --30--MC/na*

    CONTACT: FedEx, Memphis
             Ed Coleman, 901-434-7784

    KEYWORD: TENNESSEE ALASKA TAIWAN INDIA HONG KONG FRANCE CHINA
INTERNATIONAL ASIA PACIFIC EUROPE
    INDUSTRY KEYWORD: TRAVEL TRANSPORTATION NETWORKING SOFTWARE
PRODUCT
    SOURCE: FedEx