FedEx Rebrands Parcel Direct as FedEx SmartPost

MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 21, 2004--

Rebranding Further Aligns Leading National Parcel Consolidator with Industry's Broadest Portfolio of Residential Shipping Solutions

“The name also aptly describes a smart, cost-effective way to deliver packages to residences using the delivery strengths of the United States Postal Service.”

FedEx Corporation (NYSE:FDX) today announced a new brand identity for recently acquired national parcel consolidator Parcel Direct -- FedEx SmartPost(SM). The New Berlin, Wisconsin-based subsidiary of FedEx Ground, the small-package ground delivery unit of FedEx Corporation, will begin operating under the new brand immediately.

"Rebranding Parcel Direct as FedEx SmartPost allows us to leverage the considerable power of the FedEx brand in the emerging parcel consolidator market," said T. Michael Glenn, executive vice president, FedEx Corporation. "The name also aptly describes a smart, cost-effective way to deliver packages to residences using the delivery strengths of the United States Postal Service."

FedEx SmartPost operates a highly efficient, low-cost network specifically built to tender low-weight, less time-sensitive packages into the U.S. Postal Service system, typically at the local post-office level, for final delivery to residences. Customers in the burgeoning e-tail and catalog industries have increasingly requested this service, which takes advantage of the competitive postage rates available through the U.S. Postal Service.

FedEx SmartPost adds another proven solution to the unmatched FedEx portfolio of residential shipping services, which includes feature-rich, time-definite FedEx Express options and day-definite FedEx Home Delivery options.

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 www.fedex.com.