Press Release

December 3, 2010

FedEx Corp. (NYSE: FDX) will increase shipping rates for FedEx Ground and FedEx Home Delivery by a net average of 4.9% effective January 3, 2011.

The FedEx Ground and FedEx Home Delivery full average rate increase of 5.9% will be partially offset by adjusting the fuel price threshold at which the fuel surcharge begins, reducing the fuel surcharge by one percentage point. FedEx SmartPost rates also will change.

FedEx previously announced on Sept. 29, 2010 that it will increase shipping rates for FedEx Express also effective January 3, 2011 and that FedEx Express and FedEx Ground will implement a change to the dimensional weight volumetric divisor from 194 to 166 for U.S. domestic services.

Details of dimensional weight charges, surcharge changes and new rates can be found at www.fedex.com/us/2011rates.