FedEx Express Applauds Open Skies Agreement with Thailand New comprehensive air rights

Bangkok--Oct 13--MDK Consultants (Thailand) FedEx Express Applauds Open Skies Agreement with Thailand New comprehensive air rights and customs changes help facilitate trade FedEx Express, a subsidiary of FedEx Corporation (NYSE:FDX), praised the landmark all-cargo open skies accord between the U.S. and Thailand as a bold step in liberalizing trade in the region. The new agreement provides FedEx Express with tremendous operational flexibility to connect Thailand with the company's global network, while providing customers faster and more efficient service. This landmark agreement coupled with recent improvements made by Royal Thai Customs, is making it easier for U.S. exporters to do business in Thailand. "Thailand should be commended for its vision and leadership in crafting an agreement that positions it as a great place for global commerce," said Michael L. Ducker, Executive Vice President, International for FedEx Express. "We are hopeful that other APEC member economies will acknowledge this bold step to remove trade barriers, and consider joining a multi-lateral open skies agreement to provide further flexibility in this important region." The U.S. Departments of State and Transportation should also be recognized for their hard work and dedication to enabling free trade around the world. President George W. Bush will formally sign the accord during his anticipated visit to Thailand in mid-October for the Asia-Pacific Economic Council. Ducker, one of three business leaders appointed by President Bush to represent the U.S., will be in Thailand for the signing of the accord and to attend the APEC Ministerial in Bangkok. The United States has long been an important trading partner with Thailand, ranking second in total exports to the country with an emphasis on such items as semi-conductors, manufactured goods, automobiles and auto parts. Currently, FedEx operates 12 weekly international flights to and from Bangkok International Airport with service to all cities in Thailand. About FedEx Corp. With annual revenues of $23 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, North America's largest customs broker and a provider of international freight forwarding and trade facilitation services. FedEx ranked highest in the J.D. Power and Associates 2002 Small Package Delivery Service Business Customer Satisfaction StudySM in the categories of air, ground and international delivery services. End. -RK-

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