Hong Kong, July 27, 2004 - FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, launches a new television commercial in the Asia Pacific region, “The Stepping Stones”, highlighting FedEx’s spirit of teamwork. The commercial was debuted in Hong Kong on July 25, 2005, followed by other markets across Asia Pacific from July to September.

“Our new commercial continues our highly successful ‘WeLiveToDeliver’ platform by focusing on the way our uniquely talented employees work together to get the job done,” said Malcolm Sullivan, Vice President, Marketing for FedEx Asia Pacific. “Behind every FedEx delivery, there is more than one person working to go above and beyond to ensure that every package is delivered on time no matter what the circumstances. The commercial highlights the employees behind the scene that customers may not see every day, but who are vital in ensuring on-time and safe delivery. It gives a whole new meaning to ‘contingency planning’ as the FedEx team always finds creative ways to solve problems.”

The commercial opens with a FedEx courier stuck in heavy traffic on a river bridge. With a surprising plan and the cooperation of a crack team of FedEx specialists, he amazingly manages to get the package through.

Mr. Sullivan continued, “Challenges to the delivery process are a fact of life. But these can be overcome. Our new ad conveys a strong message that the FedEx team will always go the extra mile to deliver quality service and a satisfying customer experience. It does so with tongue-in-cheek humor that we hope will brighten up the day of every viewer.”

The FedEx ‘WeLiveToDeliver’ campaign began in 1998 and is unique in the industry, in that it focuses on the people that make the deliveries happen. The campaign was first kicked off by a pilot commercial, “Flood”, which used a dramatic “Come rain or shine” theme. A second commercial, “Heavy”, highlighted FedEx’s capability to transport heavyweight packages anywhere, at any time, followed by the well-loved “Is It There Yet” spot, reinforcing FedEx’s reliability.

This series was followed by a number of humor-driven spots, “Pizza”, “Ambulance”, and “Jenny”, which explored the mysterious, previous lives of today’s FedEx star couriers: a pizza delivery employee with a unique gift for seeing the city in plan form, an ambulance driver who defied all odds to get the patient to the hospital, and a woman who brought an intensity of purpose to whatever she delivered. With a whimsical twist, a later ad, “The Difficult Package”, showed the ingenuity of an entire FedEx team who needed to convey even the most challenging parcel. The new commercial, “The Stepping Stones”, is the second to emphasize the FedEx team spirit along with individual talent.

The commercial was developed by David Guerrero from BBDO, directed by Andy Lambert and filmed on location in New Zealand.

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 3.3 million packages to more than 220 countries and territories each working day. FedEx Express employs more than 139,000 employees and has over 50,000 drop-off locations, 670 aircraft and approximately 40,000 motorized vehicles in its integrated global network.