Business Wire - November 14, 2003

The 46664 global initiative, named after Nelson Mandela's prison number on Robben Island where he was incarcerated for 18 years, will raise money from a celebrity-filled concert, and associated CD and DVD, as well as through a global fundraising event via the telephone or Internet. The FedEx Web site, www.fedex.com, provides additional background information on the event and initiative, as well as a link to the official 46664 Web site.

"As a company facilitating global trade, FedEx is committed to causes that help improve the communities where we live and work around the world," said Robert W. Elliott, President, FedEx Express Europe, Middle East, India and Africa. "FedEx is proud to support Nelson Mandela's fight against HIV/AIDS, a global pandemic with devastating effects on so many of our communities."

Preparation is underway for the November 29 concert featuring artists such as Bono, Brian May and Roger Taylor of Queen, Peter Gabriel and Beyonce, among others, who are joining together to perform and record songs specifically written for the 46664 campaign. During the show, influential entertainers and politicians will spread the word about the devastating effect of AIDS, and seek to raise additional funds for vital research and care programs. The concert will reach an estimated television audience of more than 3 billion people in 90 countries.

FedEx Express provided the necessary air transportation, and FedEx South African global service provider, MyExpressCo, is coordinating ground transportation and logistical support to move the concert and band equipment. The manifest included Brian May's snare drum, Roger Taylor's guitar and a three-dimensional rendering of Nelson Mandela that is more than 10 meters tall and will serve as the stage backdrop. >From the airport, a caravan of FedEx vehicles will deliver the equipment safely and on-time to Green Point Stadium. Chevron Texaco generously provided the jet fuel for this important flight.

FedEx Community Involvement

FedEx is recognized as one of the world's most admired brands in part because of our commitment to helping people in need. In addition to corporate philanthropy and employee volunteerism, FedEx has a number of strategic relationships with charitable organizations that share our same ethics and values. These organizations include: Heart to Heart International, American Red Cross, America's Fund for Afghan Children, ORBIS International, United Way of America and March of Dimes.

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.

CONTACT: FedEx Media Relations

Kristin S. Krause, 301-610-2087

SOURCE: FedEx Corp.

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