FedEx Express Introduces New Transatlantic Express Freighter Service; Cologne, Germany to U.S. Flight Increases Transatlantic Capacity by 20 Percent

BRUSSELS, Belgium--Nov. 2, 2004--FedEx Express, an operating unit of FedEx Corporation , is connecting more European cities with next day service to the U.S. and increasing its transatlantic capacity with the introduction of five weekly direct flights from Cologne, Germany to Memphis, Tennessee, beginning March 2005.

"FedEx Express is committed to strong import and exports services to and from Europe," said Robert. W. Elliott, president, FedEx Express Europe, Middle East and Africa region. "The Cologne Express Freighter flight will strengthen FedEx service to the region and show customers that FedEx is the fastest way to ship from Europe to more of the U.S."

Utilizing a FedEx Express MD-11, the transatlantic Express Freighter flight will provide next business day service improvements for shippers in the industrial heartland of Germany, as well as key markets in Belgium and the Netherlands. The flight increases transatlantic capacity by 20 percent westbound and improves FedEx International Priority Freight(R) service for customers in Germany. In western Germany, shippers will benefit from later pick-up times of up to three hours.

FedEx Express already provides direct flights from Stansted, England; Paris, France; and Frankfurt, Germany to FedEx hub locations in the U.S.

The Cologne Express Freighter flight announcement follows a series of FedEx service improvements aimed at expanding the company's network and connectivity. Over the past eight to 12 months, FedEx has opened new stations and added new flight routes throughout Europe. FedEx now connects more than 80% of the European economy to its EuroOne network, doubling its network reach over the last five years.

About FedEx Express

FedEx Express, a subsidiary of FedEx Corp., connects areas that generate 90% of the world's gross domestic product in one to three business days with door-to-door, customs-cleared service and a money-back guarantee. 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 approximately 3.1 million packages to 215 countries each working day. FedEx Express employs more than 137,000 employees and has approximately 50,000 drop-off locations, 649 aircraft and approximately 42,000 motorized vehicles in its integrated global network.

About FedEx Corp.

FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $26 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 240,000 employees and contractors 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 fedex.com.