FedEx dividend payment increased by 16.7 Percent

The Board of Directors of FedEx Corporation have declared a quarterly cash dividend of USD0.07 per share on FedEx Corporation common stock, an increase of USD0.01 per share over the previous dividend payment. The dividend is payable July 1, 2004 to stockholders of record at the close of business on June 10, 2004.

FedEx Corp provides customers and businesses worldwide with the broadest portfolio of transportation, e-commerce and business services. With annual revenues of USD25 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx and Kinko’s brands. 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.