FedEx Named In FORTUNE Most-Admired Companies For Sixth Consecutive Year

HONG KONG, May 8, 2007.—FedEx Corp. (NYSE: FDX) has been named one of the “World’s Most Admired Companies” in 2007 for the sixth consecutive year, according to rankings recently released by FORTUNE magazine. FedEx ranked seventh in the survey, and the top company in the express delivery industry, underscoring FedEx’s global leadership in the business community.

“This recognition is a testimony of how our people-first management philosophy has driven the success of the company,” said David L. Cunningham Jr., president of FedEx Asia Pacific. “Day in, day out, our employees demonstrate the strength of their commitment to making every FedEx experience outstanding for our customers.”

FORTUNE‘s “Most Admired” rankings are selected by financial analysts, executives and directors at 347 companies with revenues of more than US$8 billion. Respondents rated companies in their industry on nine key attributes of reputation. FedEx ranked tops in seven attributes, including Innovation, People Management, Use of Corporate Assets, Quality of Management, Long-term Investment, Quality of Products/ Services and Globalness.

FedEx has been constantly ranked top in various global surveys. Earlier this year, FedEx ranked 15^th in the Harris Interactive/Reputation Institute’s annual corporate reputation survey, which was released by The Wall Street Journal in January. FedEx also ranked 197 in the 2006 FORTUNE “Global 500” list, 50^th “Biggest Employer” and 64^th in the 2006 FORTUNE “100 Best Companies To Work For.” In the meanwhile, FedEx Japan has been selected as the top 10 Best Employer by Hewitt Associates.

About FedEx Corp

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $35 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 275,000 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.