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FEDEX ANNOUNCES RATE CHANGES FOR 2002

FEDEX ANNOUNCES RATE CHANGES FOR 2002

   FedEx Corp. announced today that its subsidiaries, Federal Express Corp. and FedEx Ground, would increase rates effective Jan. 7, 2002.

   FedEx Express will increase rates an average of 3.5 percent from shipments within the U.S., and for U.S. export shipments. This increase includes a $1.35 per-package residential delivery charge for non-freight shipments within the U.S. to private residences, an increase in the courier pickup charge to $4 from $3, and an adjustment to the special handling fees for dangerous goods, but excludes the current fuel surcharge.

   FedEx Ground also will increase rates an average of 3.5 percent. The residential delivery surcharge will increase from $1.30 to $1.35, and the FedEx Home Delivery surcharge per-package will increase from $1.05 to $1.10.

   “FedEx is committed to providing the highest level of customer service in the industry,” said Michael T. Glenn, FedEx executive vice president of market development and corporate communications.

   Beginning Dec. 7, rates will be available to Express customers on www.fedex.com. Ground list rates will be available on fedex.com beginning Dec. 14.