FedEx Corp. Remains Confident in the Strength of FedEx Ground

MEMPHIS, Tenn., January 10, 2008 – FedEx Corp. (NYSE: FDX) today reiterated its confidence in the company’s ability to continue to grow the FedEx Ground business, gain market share and provide excellent service to customers.

”FedEx recognizes its ground-contractor model faces challenges on several fronts,” said Frederick W. Smith, chairman, president and chief executive officer of FedEx Corp. “We continue to aggressively address these issues, and we have strong defenses to these challenges. We continue to believe that FedEx Ground’s owner-operators are properly classified, and the business remains fundamentally strong. It is business as usual at FedEx Ground.”

Analysts and Media Information

A conference call for financial analysts and media will be held at 4:30 p.m. EST on Thursday, January 10, 2008, and will be Webcast at A replay and an MP3 download of the conference call Webcast will be posted on the Web site following the call.

Addtional Information:

FedEx Investor Relations

FedEx Corp. Issues Update on Status of Tentative IRS Assessment Regarding Worker Classification at FedEx Ground

Corporate Overview

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $36 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 290,000 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

Certain statements in this press release may be considered forward-looking statements, such as statements relating to management’s views with respect to future events. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. For additional information on these factors, please refer to FedEx Corp.’s and its subsidiaries press releases and filings with the SEC.