For Immediate Release: June 26, 2001

AKRON, Ohio – FedEx Custom Critical, North America’s largest time-specific, critical-shipment carrier, yesterday reached an agreement with developers David J. Schipper and John F. Warmus to construct a new headquarters building in Green.

Since January 2000, FedEx Custom Critical’s Summit County workforce has expanded by approximately 100 employees. The new 182,000-sq.ft. building is being designed to accommodate the company’s employment growth and provide a technologically advanced, attractive work setting.

“Our headquarters is the heart of our operations, and we are working with the developers to design an advanced facility,” said John G. (Jack) Pickard, president, CEO and CIO. “The building will include the latest available technology for information systems, the work environment and security.”

The facility, to be located on a 20-acre property at 1475 Boettler Road, will house FedEx Custom Critical’s centralized North American operations, including executive offices and customer service, information technology and administrative functions. The company’s current headquarters is in Coventry Township.

“The new setting is ideal,” Pickard said. “The City of Green is a thriving community, and the site is just five miles from our current headquarters, providing our employees with a similar commute.”

Construction on the facility will begin in July 2001, with a formal groundbreaking ceremony scheduled for July 25. FedEx Custom Critical plans to begin the first phase of its move to the new building in the fall of 2002. Occupancy is expected to be complete in early 2003.

FedEx Custom Critical provides exclusive-use, time-specific shipment services throughout the U.S. and Canada and within Europe. Among its divisions are Surface Expedite, for non-stop, door-to-door transport of critical shipments; White Glove Services®, for shipments that require special care in handling; and CharterAir®, which offers an array of expedited air solutions to meet customers’ critical delivery times. FedEx Custom Critical is an operating subsidiary of FedEx Corp.

With annual revenues of $20 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, a leading provider of regional less-than-truckload freight services; FedEx Custom Critical, the world's largest provider of expedited, time-critical shipments; and FedEx Trade Networks, a provider of customs brokerage, consulting, information technology and trade facilitation solutions.