Fedex Custom Critical CharterAir is Now ``Air Expedite''; Name Change to Better Describe Expanded Portfolio of Services.

Business Editors

AKRON, Ohio--(BUSINESS WIRE)--Jan. 13, 2003

FedEx Custom Critical, Inc., North America's largest time-specific, critical-shipment carrier and a subsidiary of FedEx Corp. (NYSE:FDX), is changing the name of its CharterAir(R) division to Air Expedite. The new name reflects the expanded portfolio of expedited air services offered by this division.

"The name change was definitely a customer-focused decision," said Kevin McClellan, director of Air Expedite. "We want our customers to understand that we offer much more than dedicated charter services. We utilize our surface fleet and our alliances with our sister FedEx operating companies to provide services that simply can't be found anywhere else."

One such offering is the company's Point-to-Point Air-Freight Service. On these shipments, FedEx Custom Critical exclusive-use vehicles provide pickups and deliveries to customers' facilities. FedEx Express handles the airlift. Point-to-Point customers benefit from later cutoff times, with earlier deliveries.

"With Point-to-Point, we can provide next-day, same-day and even Saturday deliveries," McClellan said. "We can also utilize temperature-controlled air-cargo containers to move freight that must stay cool during transport in the air. The evolution of the Point-to-Point service is a prime example of why 'Air Expedite' better describes our division. Our service options for customers simply continue to expand."

In addition to the Point-to-Point service, Air Expedite will retain the "CharterAir" name to refer to its dedicated charter services. The division also offers blended services, which utilize chartered aircraft and the Custom Critical surface fleet to provide customers with optimal solutions to meet their cost and speed requirements.

"The aircraft operators we work with are vital to the success of FedEx Custom Critical," McClellan said. "Customers' charter needs are why we began this division in 1991, and we will continue to provide the same, great charter services. The only thing changing is our name. Our dedication to our aircraft operators is stronger than ever."

FedEx Custom Critical provides exclusive-use, time-specific shipment services throughout the U.S. and Canada and within Europe. Among its divisions are Surface Expedite, for non-stop, door-to-door transport of critical shipments; White Glove Services(R), for shipments that require special care in handling; and Air Expedite, which offers an array of air solutions to meet customers' critical delivery times.

With annual revenues of $22 billion, FedEx Corp. is the premier global provider of transportation, e-commerce and supply chain management services. The company offers integrated business solutions through a network of subsidiaries operating independently, including: FedEx Express, the world's largest express transportation company; FedEx Ground, North America's second largest provider of small-package ground delivery service; FedEx Freight, the largest U.S. provider of regional less-than-truckload freight services; FedEx Custom Critical, North America's largest provider of expedited time-critical shipments; and FedEx Trade Networks, a provider of customs clearance, international freight forwarding and trade facilitation.

NOTE TO EDITORS: FedEx Custom Critical press releases are available on the World Wide Web at [e-mail].