ADVISORY/FedEx Express To Unveil Hybrid Delivery Vehicle.

Business Editors

ADVISORY...for Tuesday (May 20)

--(BUSINESS WIRE)

FedEx (NYSE:FDX):

WHAT:   FedEx Express and Environmental Defense announce a major
        milestone in the quest to create the next generation of clean,
        fuel-efficient delivery vehicles. FedEx Express and
        Environmental Defense will unveil the new truck and discuss
        its benefits and integration of this innovative technology
        into the FedEx Express fleet.

WHO:    Dave Bronczek, President, FedEx Express
        U.S. Senator Orrin Hatch (R-Utah),
        Chairman of the Senate Judiciary Committee
        Fred Krupp, President, Environmental Defense
        Others To Be Announced

WHEN:   Tuesday, May 20, 2003

        11:45 a.m. (ET) Washington, D.C. press conference,
        vehicle demo and luncheon

        2:00 p.m.  (ET) Interactive teleconference with executives
        (for media unable to attend the live press event/vehicle
         demonstration)

        Teleconference Dial-In Information:
        1-800-475-2151

        Participants will be asked to provide their names and
        companies/outlets, and will have the opportunity to ask
        questions following the discussion.

WHERE:  Press Event:
        Ronald Reagan Building and International Trade Center
        Pavilion & Plaza
        1300 Pennsylvania Avenue, NW
        Washington, D.C. 20004

REGISTRATION:

        Media are requested to register at www.fedexevents.com prior
        to May 20, 2003.

PRESS KIT & B-ROLL:

        Electronic press kit and a b-roll feed -- including sound
        bites from the executives and pre-taped footage of the
        vehicle -- will be distributed via FedEx Express on May 20.
        To obtain the electronic press kit and b-roll, visit
        www.fedexevents.com

BACKGROUND:

        Additional project information is available at
        www.fedexevents.com

         For additional information, contact Kristine Duckett,
               FedEx Public Relations, at 646-935-4159.