Gary Kusin Resigns as Leader of FedEx Kinko's; Kenneth A. May Named President, Chief Executive Officer

Kusin assumed leadership of Kinko's when he joined the company inAugust, 2001, and continued at the helm after FedEx Corp. acquiredKinko's in February 2004. The Dallas-based company was rebranded asFedEx Kinko's Office and Print Services and is one of four FedExoperating companies, along with FedEx Express, FedEx Ground and FedExFreight.

"Gary's leadership transformed FedEx Kinko's into a global networkoffering the industry's broadest range of business services and helpedchange the way business is done in the digital age," said Frederick W.Smith, chairman, president and chief executive officer of FedEx Corp."I have the utmost confidence that Ken will take FedEx Kinko's to newheights by building on this outstanding record of innovation andservice to our customers,"

May, 45, was named to his present position in August, 2004 andoversees day-to-day management of the company's worldwide performance.May joined FedEx in 1982 and previously served as senior vicepresident of U.S. domestic ground operations and senior vice presidentof Air, Ground and Freight Services at FedEx Express.

Brian D. Philips, 38, vice president of U.S. marketing for FedEx,will succeed May as chief operating officer at FedEx Kinko's. Philipsis a 12-year veteran of FedEx and his responsibilities includeadvertising, brand management and retail marketing. Before joiningFedEx, Philips worked for Kimberly Clark in brand management.

About FedEx Kinko's Office and Print Services

FedEx Kinko's Office and Print Services is the world's leadingprovider of document solutions and business services. Its globalnetwork of more than 20,000 team members and 1,500 digitally-connectedlocations offers access to technology for color printing, finishingand presentation services, Internet access, videoconferencing,outsourcing, managed services, Web-based printing, document managementsolutions and the full range of FedEx day-definite ground shipping andtime-definite global express shipping services. Dallas-based FedExKinko's Office and Print Services has locations in 11 countries. Formore information, please visit www.fedexkinkos.com. Products, servicesand hours vary by location.

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businessesworldwide with a broad portfolio of transportation, e-commerce andbusiness services. With annual revenues of $31 billion, the companyoffers integrated business applications through operating companiescompeting collectively and managed collaboratively, under therespected FedEx brands. Consistently ranked among the world's mostadmired and trusted employers, FedEx inspires its more than 260,000employees and contractors to remain "absolutely, positively" focusedon safety, the highest ethical and professional standards and theneeds of their customers and communities. For more information, visitwww.fedex.com.

For free B-roll/video content about FedEx please log ontowww.thenewsmarket.com/fedex to preview and request video. Media canreceive broadcast-standard video digitally or by tape from this site.Registration and video is free to the media.