FedEx Express Enhances Service with the Launch of Boeing 777 Freighters to Meet Growing Demand in Eastern China

Investment in New Aircraft Delivers Two-Hour Improvement in Cut-Off Times for Outbound Shipments to the U.S.

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, is advancing international express shipping with the introduction of its first Boeing 777 Freighter (777F) service in Shanghai, mainland China.

The new 777F directly connects Shanghai with the FedEx SuperHub in Memphis, Tenn. and provides customers in Shanghai, Suzhou and Kunshan with a best-in-class, two-hour improvement in cut-off times* in select areas, making it even more convenient for businesses to ship internationally by giving them more time to prepare their FedEx International Priority and FedEx International Economy shipments.

“Mainland China is one of the fastest-growing markets for FedEx,” said Michael L. Ducker, executive vice president and chief operating officer of FedEx Express. “By providing direct connections from Shanghai to the U.S. through our new 777F, we are well-positioned to support strong customer demand while delivering unmatched service enhancements.”

“The deployment of our first 777F aircraft in the Asia Pacific region demonstrates the FedEx commitment to delivering innovation that advances the express logistics industry, while providing our customers in Asia with unparalleled connectivity and services,” said David L. Cunningham Jr., president, Asia Pacific, FedEx Express. “With the 777F’s shorter flight times, our operational advantages give our customers a competitive advantage in the global marketplace through speed and reliability. In addition, the 777F is able to deliver these benefits while helping FedEx build a more sustainable operation in the long term through its fuel efficiency and reduced emissions.”

The 777F’s state-of-the-art engine technology reduces emissions by 18 percent. Investment in its aircraft fleet is an important part of the FedEx commitment to reduce its CO2 aircraft emissions by 20 percent by 2020**.

FedEx Express is the first U.S.-based, global, all-cargo freight airline to add the 777F to its fleet and has placed the largest order for the aircraft model to date. By April 2010, FedEx Express plans to have a total of four 777Fs serving routes between Asia and the U.S. There will be 15 777Fs in the company’s fleet by the end of fiscal 2014. FedEx Express has a second order of 15 777Fs, which will be delivered between fiscal 2014 and fiscal 2019, and holds options on 15 more.

777F Background

The 777F is the world’s largest twin-engine cargo aircraft. In typical FedEx operations, the 777 Freighter has a revenue payload capacity of 178,000 pounds (81 metric tons), and can fly 5,800 nautical miles, the equivalent of about 6,675 land miles or nearly three times the approximate distance between the east and west coasts of the U.S. This represents a payload improvement of 14,000 pounds and range improvement of 2,100 nautical miles over similarly arranged MD-11Fs, which until now has been the primary long-haul aircraft in the company’s fleet. Over shorter ranges, the 777F has the capability of payloads up to 215,000 pounds.

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $33 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 275,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.

About FedEx Express

FedEx Express is the world’s largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee***.

*Selected stations in Shanghai, Suzhou and Kunshan and shipment declared value of RMB5,000 or less.

**Carbon dioxide emissions on a pounds per ATM basis, or Available Ton Mile, which is defined as one ton of cargo capacity transported one mile.

***Subject to relevant terms and conditions.