FedEx to Sponsor Third Gibbs Car; Leffler Named as Driver; Legendary No. 11 Car Strengthens FedEx Sponsorship Portfolio.

CHARLOTTE, N.C. -- FedEx Corp. (NYSE:FDX) and Joe Gibbs Racing (JGR) announced today that FedEx will sponsor JGR's third car for the 2005 NASCAR NEXTEL Cup Series season during an event at the FedEx Express ramp at the Charlotte Airport. Busch Series veteran Jason Leffler will drive the No. 11 FedEx Chevrolet.

In addition, FedEx and JGR unveiled four designs that the newest entry into NASCAR will sport during the 2005 season. Each design will represent one of FedEx's core operating companies FedEx Express, FedEx Ground, FedEx Freight and FedEx Kinko's.

"Our relationship with Joe Gibbs Racing in America's fastest growing sport is a strategic fit for the FedEx brand and a strong extension of our sponsorship portfolio," said T. Michael Glenn, executive vice president of FedEx Corp. "Success on the track depends on reliability, precision, teamwork and speed, and our employees and contractors deliver those values to our customers every day."

The entry of the FedEx car into the world of NASCAR racing bolsters an already strong portfolio of sports sponsorships. FedEx is already the Official Shipper of the National Football League and the PGA TOUR, as well as naming rights sponsor of FedExField, home of the Washington Redskins, and FedExForum, the new home of the Memphis Grizzlies, title sponsor of the FedEx Orange Bowl and the FedEx St. Jude Classic as well as a sponsor of the Williams BMW F1 racing team. These sponsorships support FedEx business goals by helping to enhance and position the brand and providing customer hosting opportunities and direct revenue generation.

"FedEx is one of the most admired and recognizable companies in the world, and I'm happy to have such a renowned addition to the team," Joe Gibbs, owner of Joe Gibbs Racing said. "FedEx and I enjoy a strong relationship on the gridiron, and I am excited to extend that winning relationship to NASCAR."

Leffler, 29, from Long Beach, Calif., is a versatile driver who has competed in all three of NASCAR's top divisions, the 2000 Indianapolis 500-Mile Race and won three consecutive United States Auto Club National Midget titles from 1997-1999 and the 1998 USAC Silver Crown title. He scored his first career Busch Series victory June 12 at Nashville Superspeedway.

Leffler has made 33 NEXTEL Cup starts, including 30 for Chip Ganassi Racing in 2001. Prior to competing with Ganassi, Leffler drove a JGR Busch Series car in 1999 and 2000, making 35 starts.

Dave Rogers, who served as race engineer for JGR driver Tony Stewart's car from 1999-2004, will serve as Leffler's crew chief. Rogers, 30, from Marshfield, Vt., has worked at JGR since July 1998 and obtained a degree in mechanical engineering in 1996 from Clarkson University in Potsdam, N.Y. He earned a masters degree in science and engineering in 1999 from the GMI Engineering & Management Institute in Flint, Mich.

Leffler, Rogers and the No. 11 FedEx Chevrolet will compete for the first time in the Twin 125 qualifying races Feb. 17, 2005 at Daytona International Speedway. The Daytona 500 is scheduled for Feb. 20, 2005.

About Joe Gibbs Racing

Based in Huntersville, N.C., and owned by Joe Gibbs, a three-time Super Bowl-winning coach, a member of the Pro Football Hall of Fame and current coach of the Washington Redskins, the team has competed in NASCAR since 1992, winning two of the last four Cup Series championships and more than 40 NASCAR races, including the 1993 Daytona 500 and the 2000 Brickyard 400.

About FedEx

FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $26 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 240,000 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.