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NEWS RELEASE

For Immediate Release
August 4, 2008

WINNERS ANNOUNCED IN FEDEX/JA REGIONAL INTERNATIONAL TRADE CHALLENGE

Students from Six Asian Markets Show Entrepreneurial Excellence in Final

Colorado Springs, Colo. - FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, and JA Worldwide® (Junior Achievement™) today announced the three winning teams in the second FedEx Express/Junior Achievement™ Regional International Trade Challenge, a competition aimed at nurturing the entrepreneurial spirit and business skills of students in the Asia-Pacific region.

Team OCP from Japan took first place, followed closely by Team Pretty Alien from Australia and Team BS also from Australia.

The winning teams were selected based on two main criteria: content and presentation. They were scored on their thoroughness, creativity and professionalism in developing and executing their business plan, and their team members’ demonstration of key business traits, such as teamwork, leadership, communication, and public speaking.

The Challenge, which is in its second year, attracted a total of 18 teams, comprising three teams of two students each from Australia, Hong Kong, Japan, Malaysia, South Korea and Singapore.

The teams reached the Final in Kuala Lumpur after competing in two preliminary stages in their respective home markets, where they were required to submit and present business strategies and plans to market their proposed products in various overseas markets.

"Asia has a strong track record of producing successful entrepreneurs. The International Trade Challenge aims to continue that tradition by nurturing the next generation's entrepreneurial spirit and helping them compete on a global level," said David Ross, regional vice- president, FedEx South Pacific. "By opening up their minds to more possibilities and equipping them with the right skill set, this forward-looking initiative prepares our students to become the business leaders of tomorrow. The impressive work presented in the Final is testament to that."

"The FedEx Express/Junior Achievement™ International Trade Challenge teaches students how to run a global business, and helps prepare them to succeed in our global economy," said Jack E. Kosakowski, executive vice president and COO of JA Worldwide. "It also gives them a better understanding of the four cornerstones of international trade – clear goals, market knowledge, cross-cultural communication skills, and the passion to excel."

In February 2007, FedEx announced a three-year agreement with Junior Achievement Worldwide™ that involves a grant of more than US$1 million and includes the Regional International Trade Challenge. The Challenge was launched last year with teams participating from Hong Kong, Australia and South Korea. It will be expanded from six markets this year to a total of 11 Asia-Pacific countries next year.

As well as sponsoring the event, FedEx employees volunteered their time to coach the students and facilitate business lessons.

FedEx employees log more than 100,000 hours of volunteer work each year in support of local Junior Achievement operations and many other philanthropic organizations.

About FedEx Express
FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every U.S. address and to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.

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 280,000 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 news.van.fedex.com.

About JA Worldwide® (Junior Achievement)
Junior Achievement is the world's largest organization dedicated to inspiring and preparing young people to succeed in a global economy. Through a dedicated volunteer network, Junior Achievement provides in-school and after-school programs for students which focus on three key content areas: work readiness, entrepreneurship, and financial literacy. Today, 139 individual area operations reach 4.2 million students in the United States, with an additional 4.3 million students served by operations in 118 other countries worldwide. For more information, visit www.ja.org.

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