Shippers Group Again Names FedEx the Best

For the second consecutive year, members of the National Small Shipments Traffic Conference (NASSTRAC) have selected three operating companies of FedEx Corporation (NYSE:FDX) to receive the organization's Carrier of the Year award in their respective categories. Honored were FedEx Ground and the FedEx Freight operating companies Viking Freight and American Freightways. FedEx Corp. is rebranding the latter two operating companies as FedEx Freight beginning in June. NASSTRAC's annual awards recognize a carrier's industry leadership and excellence in innovation, customer service, technology and service performance. FedEx Corp. operating companies were honored in the following categories:

—
Parcel Carrier of the Year to FedEx Ground, the second-largest
provider of small-package ground delivery service in North
America. FedEx Ground, based in Pittsburgh, has received the
award three times.

— Multi-Regional
Carrier of the Year to American Freightways, a
leading less-than-truckload carrier specializing in next-day
and second-day delivery to all points direct in 40 states.
American Freightways, based in Harrison, Ark., has won the
award seven times.

— Western Regional
Carrier of the Year to Viking Freight, the
leading less-than-truckload (LTL) carrier specializing in
next-day and second-day deliveries in the western United
States. Viking Freight, based in San Jose, Calif., has also
won the award seven times.

"The FedEx companies are to be commended for demonstrating leadership in three of the seven categories included in the NASSTRAC Carrier of the Year competition. NASSTRAC values its partnerships with these carriers and all of its associate members," said Debra Phillips, executive director, NASSTRAC. The Carrier of the Year competition is sponsored by Logistics Management and Distribution Report. The 2002 awards were announced at NASSTRAC's meeting in Naples, Fla., in early April. "We are pleased to receive these awards because they validate the FedEx Corp. philosophy that allows our operating companies to focus independently on the specific needs of their respective markets, while upholding a common standard of excellence," said T. Michael Glenn, executive vice president, market development and corporate communications, FedEx Corp. "Everyone in the FedEx family proudly salutes the hard-working teams of FedEx Ground and FedEx Freight, who help make FedEx one of the most trusted names in transportation." About NASSTRAC NASSTRAC is a shippers' association focusing on essential transportation, including less-than-truckload and package shipments, and supply-chain functions. The organization's mission is to promote professional development of its members through education, provider relationships, advocacy and professional interaction. NASSTRAC serves the interests of both domestic and global shippers. For more information, call the Washington office at 202/484-9188 or visit the Web site, www.nasstrac.org . About FedEx 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, the largest U.S. 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 clearance, international freight forwarding and trade facilitation. NOTE TO EDITORS: Press releases and additional information about FedEx Corp. and its operating companies can be found on the World Wide Web at http://www.fedex.com .